IOLTA compliance is critical for attorneys dealing with client funds, particularly in the modern age of online payments. With transactions taking place online more frequently, it's important that all client money is efficiently deposited, thoroughly recorded, and effectively handled.Being compliant safeguards clients, maintains professional standards, and minimizes the possibility of...
Tracking Law Firm Expenses: 6 Steps to Improve Financial Reporting
In the world of legal practice, the phrase “time is money” takes on a literal meaning. But to properly manage a law firm’s finances, one must have a thorough understanding of where money flows and why, in addition to keeping track of billable hours. Even mentally tough lawyers risk losing...