When is a Good Time to carry out an Internal Procedures Review?

Monday, April 12th, 2021

Internal reviews on procedures surrounding the accounts department are never deemed a particularly exciting part of running a law firm, however they could make a real difference to efficiency and compliance.

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Approaching Residual Client Balances

Wednesday, March 3rd, 2021

As legal cashiers we can often come across a matter balance listing which needs reconciling to get the monies moved to the correct place. Quite often the monies are to be returned to the client.
For long matter listings, the prospect of handling residual balances can be quite daunting. This article will detail how to handle client residual balances in bite-sized chunks to make the job easier.

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A New Year, a new start for your legal practice?

Thursday, January 21st, 2021

Often, we hear phrases like “a fresh start” or “a new start” at the beginning of a year. This makes sense because as a community we feel like the start of a year gives us a natural opportunity to reset, especially after a short Christmas break. Therefore, why shouldn’t the same be applied to legal practices?

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Profit costs, disbursements and expenses – Preparing Compliant Bills – The Law Factory

Monday, November 9th, 2020

Legal billing can be a minefield and when drawing a bill for your clients, you need to be very careful about what is being billed and whether or not to apply VAT to each item. It is crucial to understand each legal billing element and there are three main areas: Profit Costs Disbursements Expenses Profit […]

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Legal Accounts Software Migration; Will DIY Really Save Money?

Tuesday, October 13th, 2020

When choosing software, the migration of the data can often be one of the last considerations. Data migration itself is unfortunately a “necessary evil” when switching case and practice management system providers. However, the way it is done is crucial and can significantly affect the relationship between provider and firm moving forward.

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What does “promptly” mean? A look at the new SRA Accounts Rules 4

Wednesday, September 9th, 2020

In this article, I shall be looking at one part of the new SRA Accounts Rules which every legal cashier should be questioning: the meaning of the word “promptly” which appears several times across the new rules.

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Should I upgrade Legal Accounts Software?

Tuesday, July 7th, 2020

This article, explores the reasons why you should consider upgrading your Legal Accounts Software now.

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Changes in Legal Accounts for Lockdown 2020

Wednesday, May 6th, 2020

In this article we cover all recent changes affecting law firms, legal accounts and their businesses in the current Coronavirus crisis.

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Interest on Client Money

Friday, February 7th, 2020

In recent years we have seen the rules regarding interest on client money change several times.

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Residual Client Balances: Why you should never ignore them!

Thursday, September 19th, 2019

It has always been the traditional way to start a practice that the firm creates an office account, a client account and occasionally a savings account for taxes etc. Are we about to see the loss of the client account?

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