Since guarantees are legally binding, the strength of the contract itself is important. You’ll note in this diagram that the order of preference in terms of loan repayment/recovery is cash flow, followed by refinancing, then enforcement action against direct and indirect security. If a loan in default cannot be fixed or refinanced, the lender’s next […]

Law firms need a CFO who understands legal billing cycles and practice area profitability analysis. Organizing time-tracking data from multiple lawyers with inconsistent tracking methods can quickly become unmanageable. Some law firm accounting platforms offer legal time tracking features to centralize data and help streamline the process. Our 2025 Legal Industry Report found that 37% […]

Law firms need a CFO who understands legal billing cycles and practice area profitability analysis. Organizing time-tracking data from multiple lawyers with inconsistent tracking methods can quickly become unmanageable. Some law firm accounting platforms offer legal time tracking features to centralize data and help streamline the process. Our 2025 Legal Industry Report found that 37% […]

Law firms need a CFO who understands legal billing cycles and practice area profitability analysis. Organizing time-tracking data from multiple lawyers with inconsistent tracking methods can quickly become unmanageable. Some law firm accounting platforms offer legal time tracking features to centralize data and help streamline the process. Our 2025 Legal Industry Report found that 37% […]

Law firms need a CFO who understands legal billing cycles and practice area profitability analysis. Organizing time-tracking data from multiple lawyers with inconsistent tracking methods can quickly become unmanageable. Some law firm accounting platforms offer legal time tracking features to centralize data and help streamline the process. Our 2025 Legal Industry Report found that 37% […]

Law firms need a CFO who understands legal billing cycles and practice area profitability analysis. Organizing time-tracking data from multiple lawyers with inconsistent tracking methods can quickly become unmanageable. Some law firm accounting platforms offer legal time tracking features to centralize data and help streamline the process. Our 2025 Legal Industry Report found that 37% […]

Law firms need a CFO who understands legal billing cycles and practice area profitability analysis. Organizing time-tracking data from multiple lawyers with inconsistent tracking methods can quickly become unmanageable. Some law firm accounting platforms offer legal time tracking features to centralize data and help streamline the process. Our 2025 Legal Industry Report found that 37% […]

Outsource accounting is smart, safe, and low-cost for all. Startups need clear money records to stay on track daily. Outsource accounting services give safe, correct, and ready data. Industries We Serve with Virtual Trust Accounting for Law Firms Outsource accounting services give safe, correct, and ready data. For CFOs focused on sustainable APAC growth, this […]

§ When a specific account is determined to be uncollectible, the loss is charged to Bad Debt Expense. Notes payable represents a liability created when a company signs a written agreement to borrow a specific amount of money. The discount on bonds payable represents the difference between the amount of cash a company receives when […]

Explore the top accounting software options for law firms and find out how they can streamline your financial management. Mismanagement of trust accounts in law firms can result in severe consequences, including ethical violations and legal issues. It is crucial for law firms to adhere to meticulous record-keeping practices and keep separate accounts as required […]