A strong client intake process is essential for any law firm. It’s the first impression you make on a potential client, and it can help you determine whether they’re a good fit for your firm. Here are some best practices for creating a strong client intake process: Document your client intake policies and processes. This will …
Adapted by Peggy Gruenke – Originally Published in Attorney at Work As an attorney, you have a responsibility to uphold the highest ethical standards in your work. This includes how you handle your clients’ money. There are numerous financial ethics traps that law firms can fall into, and it’s important to be aware of them …
The Six Month Financial Checkup Here we are, midway through 2023. Soon you’ll be sitting down to do your monthly reconciliation for June. You may be prepared to ease into your usual steps and call it done. Instead, we recommend taking a little time to check the pulse of your firm’s financial health. How well …
…They May Come Back for More In a recent conversation with one of our clients about one of their more demanding clients, I was reminded of the children’s book called “If You Give a Mouse a Cookie” by Laura Joffe Numeroff. If you aren’t familiar with the story, a mouse asks for a cookie. This …
We are headed into the second quarter of 2023, and hopefully your firm is off to a great start. But have you checked in with your bottom line lately? Can you forecast where you will end the year? Do you understand your firm income, expenses, profit and cash reserves? These are all important pieces to …
Are You Ready for a Trust Account Audit? It’s just a typical Tuesday morning when a letter from the state Supreme Court arrives and says, “The Office of Attorney Ethics conducts a program for random inspection of attorneys’ records to determine compliance with the recordkeeping provisions of the Rule of Professional Conduct 1.15. Your firm …
Need help with your trust accounting? Reach out to the CPN Legal team, we are here to help. Law school does not adequately prepare you for the day-to-day business of running a firm. It is imperative that you pay close attention to the handling of your trust account. How you handle your client’s funds cannot …
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Part II: Key Metrics to Review for Profitability We are closing out 2022 with blogs to focus on measures to track profitability. We talked about reports to prepare for 2023 in our last blog. Now let’s talk about some key metrics to have in place for 2023 and review on a regular basis. Understanding which …
On October 10, 2022, 12 members of the CPN Legal team traveled to Nashville, Tennessee to participate in the 10th annual Clio Cloud Conference. As one of the leading Bookkeeping and Accounting groups for small and solo law practices, CPN Legal has invested time and talent in discovering and implementing the best in legal technology. …
Is 2023 going to be a profitable year? Key Metrics to Track Part One: Law Firms Are Profitable. Is your firm? Let’s set the stage with a very positive image: Law firm businesses are very profitable businesses. According to an IBISWorld article in 2022, law firms ranked in the Top 10 most profitable industries, seeing a 1.5% …
