Why great billing advice fails without the right systems behind it The American Bar Association recently published excellent guidance on billing practices that help law firms collect payments faster. Their advice covers the fundamentals: communicate fees clearly, offer multiple payment options, use retainers effectively, track time religiously, keep clients updated, and make paying easy. It's solid guidance. But here's what the article doesn't tell you: implementing these pr

The financial cushion that separates thriving firms from struggling ones Every law firm owner knows the anxiety of watching their operating account balance fluctuate. A big settlement comes in and suddenly you feel flush. Then payroll hits, rent is due, and you're back to wondering if there's enough to cover next month. This rollercoaster isn't inevitable. It's a symptom of operating without adequate cash reserves. At Accounting Girl, we talk constantly about   cash flow mana

Understanding the number that actually determines whether your law firm thrives or struggles Your firm billed $750,000 last year. Congratulations—that’s impressive! But here's the question that actually matters: how much did you keep? Revenue is vanity. Profit is sanity. And profit margin—the percentage of revenue that becomes actual profit—is the number that determines whether your law firm is building wealth or just staying busy. At Accounting Girl, we talk to attorneys eve