When it comes to trust accounting, maintaining compliance with your state’s requirements is of the utmost importance. And yes, you probably already knew you have to remain compliant, but as any practicing attorney can attest, maintaining trust accounting compliance can be complex. From meticulous recordkeeping (print and digital) to distinguishing between earned and unearned income and avoiding commingling, trust accounting … Read More
Navigating Law Firm Growth Through the Four Forces of Scaling
This blog post was contributed by Trevor McCandless, CPA, MTax, Fusion CPA. Watch our webinar with Trevor to learn more. Growing a law firm quickly isn’t easy, but if you’re ready to expand and want to do so as fast as possible, you’ll need to focus on these key forces of scaling: Finances Operations Human resources Marketing and sales To … Read More
Set Your Firm Up for Success in 2024: Strategies to Have Your Best Year Yet
As we prepare to bid farewell to 2023, it’s time for law firms to take stock of their yearly performance to see where they stand as an organization. If things have been going well for your firm, it might be tempting to stick to the game plan that’s gotten you this far, but if you want to take things to … Read More
The Best New Year’s Resolutions for Law Firms for 2024
As you flip your calendar to December and anticipate 2024, you may be thinking, “New year, new me.” But let’s be honest—it’s still the same you, and that’s a great thing! It’s time to embrace a variation on this phrase instead: “New year, new practice.” After all, what truly matters is the opportunity to refine the processes and habits that … Read More
2024 Technology Trends to Help Grow Your Practice
In today’s rapidly evolving legal landscape, firms of all sizes and in all areas of legal practice need to stay ahead of the technological curve to succeed. As our technological capabilities advance faster than ever before, law firms that use software solutions to manage their practices can experience lower overhead costs, increased lead conversions, better compliance and data security measures, … Read More
CosmoLexPay Lets You Meet Your Clients Where They Are
These days, even seemingly antiquated agencies like the Department of Motor Vehicles allow you to renew your license and registration and pay online with just a few clicks. It sure beats waiting in line with your checkbook. Accordingly, consumer demand for digital payment options has grown significantly. How can your law firm take advantage of this widespread transition to digital … Read More
6 Takeaways from 2023: A Reflection on the Year’s Challenges and Successes
2023 stands out as a year of significant transformation for the legal field. Law firms, both large and small, found themselves navigating new and nuanced challenges, from the intricacies of remote work to pressing cybersecurity concerns. And then there’s the elephant in the room: generative AI. Yet, with challenges come opportunities. As we reflect on the past year, it’s evident … Read More
Simplify Year-End Accounting: 4 Tips to Optimize Your Accounts Payable
The new year can sneak up fast, so it pays to make a plan to tackle those eleventh-hour tasks now instead of waiting until the last minute. After all, the end of the year should be a time of relaxation and restoration, not a time to burn the midnight oil while drinking endless cups of coffee at the office. Get … Read More
Top 5 Year-End Accounting To-Dos for Legal Teams
As the year winds down, everyone is looking forward to holiday festivities and a well-deserved break from the whirlwind of cases, clients, and courtrooms. But there’s a looming task you have to take care of before that end-of-year break: year-end accounting. Wrapping up the year is an excellent opportunity to analyze the year’s progress, ensure compliance, and set the stage … Read More
11 Questions for a Successful Year-End Close
As the year draws to a close, law firms are presented with a unique opportunity—a chance to reflect, recalibrate, and refocus. While the end of the year is associated with holiday festivities and time away from the office, it’s also a critical period for law firms to assess their financial health, client relationships, and future growth strategies. The questions you … Read More