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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When is a Good Time to carry out an Internal Procedures Review?
Monday, April 12th, 2021Approaching Residual Client Balances
Wednesday, March 3rd, 2021As 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.
Conveyancing; the Unseen Pressure in a Chaotic Market!
Tuesday, February 16th, 2021This blog explores the effect of the pandemic and the Stamp Duty holiday on the housing market and solicitors working in conveyancing. It offers thanks for the hard work in difficult conditions they have put in and the challenges still to be faced.
A New Year, a new start for your legal practice?
Thursday, January 21st, 2021Often, 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?
Can I increase efficiency by becoming a paperless law firm?
Tuesday, December 22nd, 2020The thought of going paperless may at first seem very daunting, especially when a firm has been running paper-based files forever. The change itself can sometimes seem like a summit which is impossible to climb. The key however is to ascertain what resources are available and how we gain easy access to digital files.
Profit costs, disbursements and expenses – Preparing Compliant Bills – The Law Factory
Monday, November 9th, 2020Legal 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 […]
Legal Accounts Software Migration; Will DIY Really Save Money?
Tuesday, October 13th, 2020When 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.
What does “promptly” mean? A look at the new SRA Accounts Rules 4
Wednesday, September 9th, 2020In 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.
Legal Cashiers: A Necessity for Every Legal Practice
Thursday, August 13th, 2020In this article, I explore some of the reasons given by firms for not using a legal cashier.. I will explain why I believe this course of action is flawed and assert that every practice should have a legal cashier no matter it’s size.
Should I upgrade Legal Accounts Software?
Tuesday, July 7th, 2020This article, explores the reasons why you should consider upgrading your Legal Accounts Software now.
