by Lynda Artesani | Feb 20, 2022 | Chart of Accounts, Financial Statements/Distributions, General Tips
One of the things I love about collaborating with other accountants and bookkeepers is learning new trade tricks. The last few weeks have been narrowly focused on how to clean up your client files. This week is also similar as one of the final steps in the cleanup is...
by Lynda Artesani | Feb 6, 2022 | General Tips, IOLTA/Trust Accounts
The interest on a lawyer’s trust account, commonly known as IOLTA, is one of the most mysterious accounts in attorney’s chart accounts. Yes, we know it’s a bank account; we know that there’s interest, but we’re not sure how to put that...
by Lynda Artesani | Dec 26, 2021 | Financial Statements/Distributions, General Tips
There are several types of entities that we typically see law firms drawn into. In the US, they are taxed differently, and it is important to be aware of this when considering your law firm’s structure. Below we will break down the different entity choices: Sole...
by Lynda Artesani | Dec 5, 2021 | Accounts Receivable, General Tips, LeanLaw, Legal Apps, Work Processes
There are so many acronyms when you work with attorneys. You may be asked as a bookkeeper who works with lawyers about LEDES. LEDES is an acronym for Legal Electronic Data Exchange Standard. What does that exactly mean? LEDES has been around since 1995 and is a file...
