by Diana Halenz | Nov 20, 2015 | Clio, Law Firm Accounting, Xero
In Mid-October, I noticed that although the attorneys that I work with were approving bills in Clio, they were stuck in Draft in Xero. “That’s no problem, I’ll just approve them manually in Xero” I thought. Then I noticed that changes in Clio to any bills in draft...
by Diana Halenz | Nov 18, 2015 | Business Management, Clio, IOLTA, Law Firm Accounting, Law Firm Practice Managment, Xero
As a technology-loving accountant, I am frequently asked for recommendations for software to do this or that, including the “perfect platform” for a business or law firm. The answer is: there isn’t one. There is no one size fits all answer to the...
by Diana Halenz | Sep 24, 2015 | IOLTA, Law Firm Accounting
Accounting for law firms requires an understanding of some specifics around how to account for funds held in trust. it is easy to expose a law firm to significant financial risk in the event of an audit if the firm’s accountants or bookkeepers don’t know...
by Diana Halenz | Sep 8, 2015 | Law Firm Accounting, Law Firm Practice Managment
Google “law firm embezzlement” or a similar term and plenty of recent cases pop up… $961,000 taken by a bookkeeper who had access to the firm’s accounts and the absolute trust of the partners. In this case, the bookkeeper’s personal...
by Diana Halenz | Sep 1, 2015 | Law Firm Accounting, Law Firm Practice Managment
I recently posted some metrics that a law firm can use to measure profitability and productivity. However, all the profits don’t matter if it doesn’t translate to money coming in the door. Ideally, law and other professional services firms collect payment...
by Diana Halenz | Jul 10, 2015 | IOLTA, Law Firm Accounting, Xero
Cloud software is being refined and with its maturity, is paving the way for law offices to perform more efficiently than ever before. Just a few years ago, a sole practitioner needed bricks and mortar, a secretary and/or paralegal, and volumes of books just to get...
