Regardless of your opinion of budgets, they are vital for building and managing a law practice, says Brenda Barnes, a certified public accountant (CPA) and managing principal of B2 Management and Consulting LLC. She adds that while lawyers often don't appreciate or pay attention to budgets, they are critical to financial planning within your firm. The benefits of a budget … [Read more...] about Why budgeting and cash flow forecasting are essential for effective law office management
financial planning
How to create a budget for your law firm
While many attorneys cringe at the thought of creating a budget, there are five important reasons why your law firm needs one, says Elizabeth Miller, an independent law firm administrator and consultant. Budgets help law firms achieve long-term goals, such as growing their businesses or buying an office instead of renting office space. You can't spend money you … [Read more...] about How to create a budget for your law firm
Sample Budget Spreadsheet
Why you need this budget spreadsheet: While many attorneys cringe at the thought of creating a budget, there are several important reasons why your law firm needs one, including helping you prepare for unexpected expenses. How this budget spreadsheet helps you: This 12-month, month-by-month spreadsheet lists some common fixed expenses of a law firm. How to use this budget … [Read more...] about Sample Budget Spreadsheet