A comprehensive desk reference designed to keep lawyers in the clear when it comes to the tough demands of legal accounting compliance.
What’s Inside?
Law Firm Accounting Demystified is a one-of-a-kind reference guide for legal professionals looking to manage their accounting. We have attempted to take a comprehensive look into the many subtleties and nuances of legal accounting.
This book takes legal accounting topics that would otherwise be easily misunderstood by both lawyers and accountants and simplifies them into a common language that can be understood by anyone involved with a law firm's accounting.
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About the Authors
Rick Kabra, Ph.D.
Rick Kabra, Ph.D., founded CosmoLex Cloud, a web-based law practice management system. Rick led legal software teams for nearly 15 years, catering to the specialized technology needs of small and mid-sized law firms. Rick has given hundreds of seminars and has published numerous articles on legal technologies related to law office management, cloud computing, legal billing, and business & trust accounting compliance issues.
Pamela Rozsa
Pamela Rozsa was a management consultant for over thirty years in the legal industry. She has hands-on experience managing small to medium-sized law firms as a Managing Director, during which Pam worked with legacy practice management packages that included accounting modules. Pam began evaluating cloud-based practice management applications in 2010 and was one of the first consultants to adapt and promote cloud-based legal practice management software.
Full Chapter List
01 Overview
02 What is an Accounting System?
03 Retainer Management
04 Trust Accounting
05 Matter Billing Types
06 Matter Expenses
07 Billing & Payments
08 Income Tracking
09 Credit Card Expenses
10 Business Accounting
11 Bank Reconciliations
12 Financial Reports
13 Productivity Reports
14 Year-End Activities
15 Canada-Specific Legal Accounting
16 Conclusion
What Readers Are Saying...
"Law Firm Accounting Demystified analyzes the concepts of legal accounting as a firm-wide process resulting in a big picture comprehension for non-accounting individuals. This book is a must-read for all firm members desiring a better understanding of the cohesive link between time and billing and the fundamental day-to-day accounting activities of a law firm. The authors cover specific accounting requirements and concerns of law firms and discuss how these burdens can be efficiently overcome with an appropriate workflow process."
