“With a staffing footprint of only a few attorneys why do I need a bookkeeper?” It’s a question I’ve heard a lot over the course of my career. Many lawyers who work in small firms don’t see the benefit of relying on external expertise to keep their books organized. Unfortunately, many of those same lawyers eventually come around to a different way of thinking only after something bad, or even catastrophic, happens with their accounts.
Last week, in our article about paper-based vs. electronic accounting systems , we mentioned cloud bookkeeping solutions. You may know a little, or a lot, about the concept of cloud technology. What you may not know, is that there are multiple cloud-based solutions for storing your bookkeeping data. You may also not know how these solutions can make your data safer, more accessible, and more secure. Read on below to learn more about the difference between cloud and local bookkeeping solutions.
You see, whether someone is an independent contractor or an employee is a legal determination based on the circumstances of their engagement with the firm they work with. It has nothing to do, or at least very little to do, with how their firm has decided to label them. There are hundreds, if not thousands of reported cases elucidating the different circumstances of contractors and employees.
Many small firms struggle to choose between electronic and paper-based bookkeeping systems for their trust accounting. While each method has its upsides and drawbacks, we argue below that a properly organized and maintained electronic system is superior to its paper-based ancestors. Read on below to find out why!
Last week we covered some common trust accounting mistakes. This week we’re going to do the opposite. We’ll cover some trust account best practices that will help prevent trouble from arising in the first place. So read on to discover some basic, easy, and simple tips to keep you out of the clutches of your local state bar.
