“Accounting is not just about counting beans; it’s about making every bean count.” – William Reed Introduction In 5 years, the role of an accountant won't be the same as it is today. Using technology like automation is becoming the norm, not the exception. Accountants’ roles are also changing, where they are no longer simply [...]
"An investment in knowledge pays the best interest." — Benjamin Franklin Profit drives every business. However, there's no formula for doing this because each business is different. To maximize profits, a strategy based on a keen understanding of the financial landscape is key. Also crucial is finding the right accountant. Whether in-house or outsourced, [...]
“Without ethics, man has no future. This is to say, mankind without them cannot be itself. Ethics determine choices and actions and suggest difficult priorities.” - Joe Berger (IFAC) Introduction Accountants need a strong moral compass. Under ethical codes of conduct, they help guide businesses based on honesty, transparency, and fairness. As the word [...]
We are finally letting the cat out of the bag and could not be more excited. After working with the cloud-based legal practice management service, Clio, for several years, our partnership is now official. Clio offers an extensive platform that includes advanced practice management, precise time tracking, efficient billing features, and secure client communication. [...]
In this interview, we delve into the concept of purposeful leadership and its important impact on organizational success. CEO, Matt Lescault shares his insights on his journey and the importance of surrounding himself with knowledgeable team members. We also discuss the significance of a clear company vision, effective communication strategies, and maintaining consistency with [...]
After years of teaming up, we're thrilled to share our new partnership with {{{{link id='59319' text='Clio' esc_html='false' target='_blank' rel='noopener'}}}}. In this collaboration, we want to shine a light on one of Clio's standout features: their legal client portal software. Good communication is vital in the legal world, and having technology that lets clients work [...]
Introduction Cash flow management is critical when it comes to the success and sustainability of a law firm. The simple truth is that insufficient cash flow affects a firm's inability to cover expenses, invest in growth and weather unforeseen challenges. Here are 10 cash flow optimization tips. 1- Check Your Firm's [...]
When running a law firm all owners and executives cannot deny that bookkeeping for a law firm is incredibly important. It builds trust with stakeholders, allows law firm accounts to be compliant with legal requirements, and is the cornerstone of making the right business decision when faced with operational questions. Let's unpack 10 reasons [...]
Legal penalties! If you are involved in bookkeeping for a law firm, this statement should make your blood run cold, and rightfully so. The consequences of not being compliant as a practitioner can have a dire impact and may even lead to disbarment in certain cases. To help you mitigate this, below are 9 [...]
Nonprofit healthcare organizations are largely focused on providing healthcare to the community, however they can not ignore the business-critical aspects of the operation. In addition to adhering to GAAP standards, there are strict guidelines to follow which ensure that the organization complies with regulations and shows accountability by submitting accurate financial statements annually. Nonprofit [...]
