Financially Legal is a twice-monthly podcast with accompanying articles on the financial aspects of the business of law. Host, Dan Lear, talks with law firm leaders, academics, business professionals and thought leaders to provide compelling and provocative insights at the intersection of finance, economics, and law.

Simple Strategies To Cashflow Success For Your Law Firm (even during COVID)

Posted by Emery Wager on May 30, 2020

Written By Devon Thurtle Anderson, CEO of Financial Consulting Firm, Skepsis

2011 DMTA Firm Photo

When I first left my law practice to become a law firm bookkeeper and financial strategist, I was shocked to discover how many law firms struggle with cashflow.  Even more surprising was that this struggle isn’t just limited to a few seemingly rag-tag solo general practice firms.  To the contrary, when I had a chance to look under the hood at dozens of law firms’ books and financial records – including law firms I had always seen as hugely successful – I learned that almost every law firm has a cashflow problem within any given 12-month period.  So, as part of my bookkeeping and consulting services, I set out to change that.

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Topics: Firm Financials, Credit Card Fees, Key Performance Metrics, IOLTA, Accounting, Invoices, Business of Law

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