One of the main roles of forensic accountants is to assess the economic loss suffered by individuals and organizations as a result of accidents and incidents. This typically involves calculating how much money has been lost due to factors such
Accounting and Bookkeeping Best Practices for Law Firms
Lawyers often neglect their finances, but it can have serious consequences. If you want to get off on the right foot as a new lawyer and understand your firm’s numbers in full detail- from billable hours per client down to
Why is Accounting Important to Lawyers?
Law firms need to comply with various laws and codes of conduct. The accountant’s role is key for this, as they can provide services such as budgeting or bookkeeping which help keep track of financial statements that ensure solvency during
What Happens After You Reach a Personal Injury Settlement
The process of receiving your settlement funds isn’t without its challenges. There are going to come to some pretty big decisions, which could impact how much money is left over after everything else has been paid off. This is including
How Can Injury Accounting Services Help Personal Injury Cases
If you have been injured and your doctor tells you that the injury was due to another person’s carelessness, can help with quantifying how much economic loss there was. The most common types of personal injuries involve hiring multiple experts
How Does the Accounting Work at the End of the Case
Legal accountants are often asked to assist attorneys and insurance companies in the quantification of economic losses resulting from personal injury, wrongful death, or lost employment. These individuals may have a stream of current earnings as well as future ones
Is Your Bank Responsible When Financial Fraud Occurs?
When is the bank responsible for fraudulent checks cashed. We have seen some horror stories at law firms. You need to have safeguards in place. Interested if anybody has their own story. Check out the blog post we ran accross
Personal Injury Lawyers – What numbers do you manage?
What are the key metrics? Three main business problems for a personal injury lawyer are picking up cases, funding the cases and waiting for the settlement. You must measure these numbers so you can manage them and work to improve
Personal Injury Lawyer Loses $80,000 in Embezzlement
Simple Procedure Would Have Prevented this Loss A small personal injury law firm had an $80,000 embezzlement by their in house bookkeeper. The bookkeeper was a friend of the family and a trusted employee. The firm was using QuickBooks. The
Simple QuickBooks Online Procedure saves a Personal Injury Lawyer $20,000
Lawyers can’t afford to lose on client cost advances I was recently engaged to help a personal injury law firm clean up their books. The first thing we did was setup QuickBooks Online and transfer their desktop file. That way