Law Technology Today From the ABA Legal Technology Resource Center
When you’re running a law firm, your everyday accounting practices have a big impact on your financial success. It’s common knowledge that most lawyers are not professional bookkeepers or accountants, and daily bookkeeping tasks can slow down your productivity if the right processes are not in place.
But it’s not just the arduous task of inputting numbers that can slow down your office, it’s the laundry list of rules and compliance regulations in place that you must be sure to follow — a list that can create challenges every day if you’re not vigilant.
In “How to Avoid the Top 5 Legal Accounting Pitfalls” we’ll cover the most common accounting challenges lawyers face every day, like improving matter cost recovery, eliminating duplicate data entry, and simplifying your financial data collection. We’ll also discuss actionable items that you can put in place to overcome each pitfall.
Learning objectives:
- Define and identify unique characteristics of “legal accounting”
- Learn how to spot the top 5 legal accounting pitfalls
- Identify how technology can help lawyers overcome accounting challenges
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