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When you start to work with the larger firms, you'll find that the compensation reporting can get a bit tricky. There are multiple ways of compensating attorneys. The most common are: 1. Ruler or Monarch Method 2. Partner Share Method 3. Eat what you Kill Method 4....
Budgeting? Do I need to create a budget for my law firm? So many things to do; is this essential to running my law firm? This discussion is half the conversation I hear when I bring up the topic of budgeting. Some clients are all in, and they really want to get organized and stick to a budge...
As we wind down 2020, it has been an interesting year for sure. Some clients thrived, while others struggled with closed courtrooms. The one resounding message I get from my clients is they are hopeful and optimistic that 2021 will be better. I love this! Optimism at its finest. People ar...
This week was supposed to be about pricing your first attorney-client lead. Part of a series you can find here. However, what is that saying, "life got in the way"? We have a pretty big client migration underway and it is at the "first billing" stage which typically requires much more tr...
This week is all about getting closer to the engagement letter and completing the file review. Back in the first post, I mentioned that you should charge for this service. In the second post, I talked about how you don't want to forget anything or forget to look at an area that may g...
In last week's post, it was all about how to handle your first attorney-client prospect. We talked all about what to say and what information to gather. You made the initial sale during the conversation you had with the client. Note: We have a full course you can buy to help you...
Reconciling the advanced client cost account is a must if you do attorney bookkeeping. It is important to track this account. If it is left untouched, you could be leaving important transactions that should be billed back to the client or expenses that should become the firm's expenses in ...
Hard cost (Direct) and soft costs (Indirect), I guess I should have included them in my list of terminology that you need to know when you work with a Law firm. But this post is about how LeanLaw works and handles these two items. Soft Costs I’ll start with the easy one, soft costs. Soft ...
