Legal Accounts Software: The new features!

Monday, November 13th, 2023

The Law Factory LLP has covered the topic of legal accounts software many times in blogs, articles and on The LawCast but we have focused primarily on different types of legal accounts software and the overall picture. In this article we are going to focus on some of the newer features appearing in legal accounts […]

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Credit Control or Credit Out of Control? The importance of good processes for Law Firms

Thursday, July 13th, 2023

Credit control is often an area that is lacking attention in law firms. It is not an area of the work that is relished by anyone and as a result can spiral out of control if left untouched.

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The SRA’s 2023 Open Consultation & What This Means for the SRA Accounts Rules

Wednesday, May 31st, 2023

Since the SRA released the latest set of Accounts Rules changes in 2019 there has been a lot of feedback from firms stating that certain aspects are unclear. This year, the SRA put out an open consultation where they sought to clarify the rules & alter the wording in hope that it would make things clearer for solicitors’ practices. This article explores those changes.

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Legal Aid BACS – To spreadsheet or not to spreadsheet?

Wednesday, May 10th, 2023

This article will explore the different ways in which Legal Aid BACs can be entered onto your legal accounts system and the positive benefits of the spreadsheet method including aiding with compliance with the SRA Accounts Rules.

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The True Value of Budgets

Tuesday, January 24th, 2023

As I write this article, we are amidst what many deem a “cost of living crisis”, where “inflation is out of control”. These are very strong terms, but nonetheless the country is having to do what it can to pull through in this post-pandemic era. Companies are having to review how they work, for example where staff are now working in a “hybrid” format, part time at home, part time in the office. Companies should also be taking this time to review their finances and their budgets.

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Cashflows: Make them work for you!

Thursday, October 27th, 2022

One of the fundamental aspects of running a successful firm, is understanding the flow of funds through the bank. We come across many firms who often do not use their cashflow properly or in some cases, do not use one at all.

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Client Account and Recalled Credit Card Payments

Wednesday, June 8th, 2022

This article explores the problems a solicitor may face if they take payment on account for services by credit card.

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New Software Choices: Get involved, get the training!

Thursday, November 4th, 2021

Historically, the main area of focus for legal software was the accounts department. Legal software companies knew that most solicitors ran a paper file, but the accounts were electronic. It was therefore often the cashier having the final say on a choice of software. The process now is very different. This article explains why the accounts department are still crucial when making your choice.

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Legal Aid: Are you ready for the changes to claim checks for civil submissions?

Tuesday, September 7th, 2021

At the beginning of July, the Legal Aid Agency (LAA) posted an update in its News Section regarding improvements to their checking system for civil claims.

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Being the COFA – not just a title

Monday, August 9th, 2021

In 2012 the SRA introduced Compliance Officers into law firms, the first being the Compliance Officer for Legal Practice (COLP) which focuses on regulatory requirements for the work undertaken by the staff and firm. The second is the Compliance Officer for Finance and Administration (COFA) who ensures that the regulations surrounding monetary & financial aspects are adhered to. It is the COFA that I will be focusing on in this article.

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