Each jurisdiction has specific guidelines for managing retainer funds, so make sure your law firm is compliant with state bar trust accounting regulations. Commingling is when a law firm mixes client funds with firm funds, either intentionally or by mistake. It’s a serious ethical violation that can result in bar sanctions, fines, and even disbarment. Read more about Law Firm Mergers & Acquisitions: A Guide to Integrating Financial Systems and Client Accounts[…]

We highlight the top 10 finance and accounting outsourcing companies in India for 2026, focusing on those offering the best offshore accounting services India has to offer. Look for outsourced accounting services that utilize user-friendly and scalable software that can integrate with your existing tools. The software should be customizable to fit your unique workflows Read more about Outsourcing Accounting and Tax Services to Indian Firms for CPA Practices[…]

Choose a policy by analyzing risks, reviewing coverage levels, and selecting a reliable insurer like Allianz Trade or Atradius USA. If you want your policyholders to pay their premiums consistently and on accounts receivable insurance time, make it incredibly easy for them. Accept a broad range of payment types — such as credit cards, automated Read more about Trade Credit Insurance[…]

Instead, they reallocate a portion of the RE to common stock and additional paid-in capital accounts. This allocation does not impact the overall size of the company’s balance sheet, but it does decrease the value of stocks per share. At the end of each accounting period, retained earnings are reported on the balance sheet as Read more about 1 4 Financial Statements: Statement of Stockholders Equity Accounting, The Language of Business[…]

One major challenge many law firms face is the high cost of hiring a full-time CFO (Chief Financial Officer) and accounting staff. It can be a significant hurdle for firms trying to manage their finances effectively. At FinOp Group, we specialize in understanding the unique financial needs of law firms at every stage of their Read more about Law Firm Accounting Services​ Professional Bookkeeping Services[…]

Files are encrypted at rest, which is the same level of encryption found in online banking and shopping. You can upload documents to IB ledger account Portal or email them directly to your dedicated bookkeeper. Then, provide us with a Guest Login to your bank account, and we’ll take care of the rest. What’s the Read more about Find A Bookkeeper[…]

Law firm accounting software can be standalone or built into an existing tool. In our 2025 Legal Industry Report, we learned that most law firms use legal-specific accounting software that’s integrated into their practice management platform. Our team knows legal industry standards, ethics rules, and trust account regulations. This helps avoid mistakes and stay compliant Read more about How To Choose the Best Small Law Firm Accounting Software[…]

While AI automates repetitive tasks such as categorization, reconciliation, and invoicing, human accountants are still needed for strategic planning, interpretation of financial data, and compliance oversight. Think of AI as the assistant that handles the heavy lifting, while accountants and CFOs focus on higher-value decisions. The best results come when businesses combine AI tools with Read more about 11 best AI accounting software and tools for 2025[…]

Employees accrue vacation and sick time at the same rate with a combined policy. For example, an employee Retained Earnings on Balance Sheet might earn one day of vacation and one day of sick time per month. Since part-time and full-time employees work a disparate amount of time per week, they earn vacation time differently Read more about Accrue Vacation Time: Maximizing PTO Benefits and Compliance[…]

Employees accrue vacation and sick time at the same rate with a combined policy. For example, an employee Retained Earnings on Balance Sheet might earn one day of vacation and one day of sick time per month. Since part-time and full-time employees work a disparate amount of time per week, they earn vacation time differently Read more about Accrue Vacation Time: Maximizing PTO Benefits and Compliance[…]