The best time to hire a bookkeeper for your business is right now! Like many other businesses, Law Firms require meticulous attention to detail as well as a knowledge of the rules and laws required to run a practice.
Hiring a bookkeeper is much more affordable than you think! In fact, not using a bookkeeper for your law firm can become expensive and have serious consequences in the long run.
Did you start your own business because you wanted to be your own boss, have more time with your family, and build something you can be proud of? Well I am here to help you reach those goals and dreams.
I started Thrive Bookkeeping with the goal of partnering with other like-minded business owners around the community and I have truly found my passion in helping other businesses grow.
Running your Salon or Barber Shop can be time-consuming and involved, just like owning any business! Finding the time to take care of your business’s books can be nearly impossible but that doesn’t make it any less important.
If you’re anything like me, it can be tough to be motivated in the mornings. This can be especially true if you work from home so it is important to have a few habits and tricks to get the wheels turning.
Bookkeeping can be a daunting and complicated task for any business, but for law firms in particular, the job of keeping the books is involved, meticulous, and integral to staying in compliance. In addition, the ramifications of improper bookkeeping practices can lead to serious consequences. Regardless of the size of your firm, having sound bookkeeping practices is integral to the success of your business. These six bookkeeping tips for law firms will give you valuable tools to help you run your business.
Hi, I’m Haley Bonczyk, owner of Thrive Bookkeeping, and today I want to give you a helpful tip when it comes to taking care of your business’s finances.
So here it is, and it’s very simple but many business owners do not do this. Keep business and personal expenses separate.
Many small law firms start their business with a bank account, a spreadsheet, and a vague idea of what bookkeeping means. But the task of maintaining a law practice as well as keeping track of the business’s finances soon becomes overwhelming and frustrating, costing you time and money. Knowing when to transition from taking care of the books yourself to hiring a professional can be tough, but there is never a better time than now to hire a great bookkeeper to take care of your business. Remember, you’re a lawyer, not a bookkeeper! And that’s ok!
The best way to begin understanding the SOCF is to compare it to the Profit & Loss.. The income statement shows what the company earned in the past year while the SOCF tracks how much money was received and where it went. Income and cash are very different things.
The Balance Sheet is a report that is incredibly useful for business owners to use and understand. There are a number of things that the balance sheet does and we will cover many of them here.
(...) As a business owner it is part of your responsibility to look at this report and know where your business is financially but note that I didn’t say that you have to do it on your own. A good bookkeeper will accomplish all the heavy lifting, so to speak, for the creation of these reports. But that still doesn’t solve the dilemma of understanding what those reports are telling you!
Let’s jump in and begin mastering the Profit & Loss.
