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Every law firm should start 2022 with accurately balanced accounting that is ready for all that the new year will bring. However, doing so requires the complete closure of books from the 2021 fiscal year. While this annual process is typically easier for firms that have consistently updated their books monthly, those that wait until year’s end can still complete this important task successfully. This year-end closing process comes together through reconciling bank accounts, adjusting entries, and preparing financial statements for analysis.

Closing the Books for the 2021 Fiscal Year

Evaluating end-of-year compensation for your attorneys may be the last thing (or, we’ll say it, most dreaded thing) on your to-do list as you work through closing the books for 2021.

Answers to Your 7 Biggest End of Year Attorney Compensation Questions

How Your Law Firm Can Give Back to the Community This Holiday Season

If you’re like most people, managing your clients’ funds is unfamiliar territory. Most of us don’t have an accounting background, and accounting isn’t a subject that’s included in law school curriculums. Join us as we give you a quick overview of the basics of attorney trust accounts and describe how you should manage settlement proceeds and other funds on behalf of a client.

Accounting for Lawsuit Settlement Payments: Tips for Handling Client Funds

Answers to Your 7 Biggest End of Year Compensation Questions

By thoughtfully creating a budget ahead of the coming fiscal year, you can better align anticipated revenue and expense with your law firm’s goals. Successful budgeting involves critically thinking about your financial expectations so that strategies can be implemented to promote greater profitability and prevent financial pitfalls.

9 Tips for Setting Your Law Firm's 2022 Budget

Law firms are starting to embrace legal operations, realizing it has value for improving client service while driving down costs through better practice management.

The Evolving Role of Legal Operations in Law Firms

Wellness is not a one-size-fits-all concept because different people need different strategies to help them feel healthy and at their best. Wellness includes an improved work-life balance, better stress management, and a positive mindset that prioritizes self-care.

Everything You Need to Know About Wellness in the Legal Community

When law firm leaders fail to plan, implement, and enforce strict cybersecurity protocols, they are potentially exposing the firm to costly and damaging attacks. Though it will take some time and money to get adequate plans in place, when done correctly, it is one of the best investments a firm can make to deter fraudsters and keep client data secure.

Your Guide to Preventing Law Firm Cyberattacks

Centerbase Wins the NetDocuments Inspire 2021 Partner of the Year Award

Most law firm leaders do not enter the legal industry with an accounting background, but a basic understanding is important to ensure the proper management of your firm’s finances.

How to Navigate the World of Law Firm Accounting

Whether seeking to attract new attorneys out of law school, entice lateral hires, or retain current members, law firms are taking unprecedented steps away from tradition in hopes of engaging and keeping top legal talent.

The Evolving Dynamics of Recruiting and Retaining Law Firm Talent

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