Cash flow can easily dictate the success or failure of any business. Law firms are beholden to the same need for consistent incoming funds as every other company.
There are three primary ways law firms accept bill payments or retainers:
Cash
Check
Credit Card
Each presents its own set of compliance concerns and requires best practices be carefully followed in order to limit risk.
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How to Keep Your Three-Way Reconciliation Accurate and Efficient
There isn’t anything I don’t like. Easier timekeeping and keeps the books straight because they have to match up…we switched because it includes bookkeeping and timekeeping in one program.
Rebecca Norton | On Point Legal, Louisiana
We needed to find an alternative solution to PCLaw, as we were moving to a cloud-based system. It appeared the employees at CosmoLex had more experience in migrating the data from PCLaw to CosmoLex.
Andrea C. Kryszak | Kryszak & Associates, Co., LPA
Using a third-party platform for accounting didn’t make sense anymore…conflict check approach is good and I like the ability to handle my accounting within the case management software.
