All tagged law firm

Bookkeeping Tips for Lawyers

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.

When is it time to outsource the bookkeeping for your small law firm?

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!