In many cases, accounting is seen as debits and credits - making sure you’re following the rules. In reality, your accounting should be much more. You should be using your financial system to drive profitability and cashflow.
When you think about your firm’s accounts receivables, what comes to mind? Pain? Headache? Lost money? Wasted time? Accounts receivable exists in every business. In a law firm, this can be a sore subject as late payments and rising AR causes anxiety and potential cash flow issues. At Headnote, we’ve put significant effort into cleaning … Continue reading Re-thinking Your Law Firm’s Accounts Receivable
Headnote CEO Sarah Schaaf was interviewed on the Legal Toolkit podcast discussing best practices for law firm accounts receivable and payments.
Of the many processes in a law firm, AR is one that has potentially the most frustration but the most potential. If a process is keeping money out of your firm plus causing tremendous headache, it’s probably worth finding a better way.
Making the switch is much easier than you think.
As a solo, small or medium size law firm consistent cash flow can make or break the business.
Law firms get paid 39% faster when they accept online payments.
"If you are a lawyer that is still sitting on paper checks and paper invoices and are trying to figure out how to collect with credit cards and echecks, man, what a good option. It’s worth a try." - Sam Glover Listen or read along and let us know what you think! Listen to the … Continue reading The Lawyerist Podcast with Sam Glover
Your clients are consumers, too, yet only 15% of solos and 12% of small firms are currently offering online payment options for clients to pay their fees.