![Clio and Xero Finance Problems Small Law Firms Need to Fix]()
Installing good software does not automatically create a good finance function. A firm may use Clio for matter management and billing alongside Xero for business accounting, yet partners can still struggle to understand WIP, debt, profitability and cashflow. The problem is rarely the existence of the systems. More often, Clio and Xero for law firms…
![How to Reduce Law Firm Lock-Up and Get Invoices Paid Faster]()
A law firm can have plenty of work, report a profit and still struggle for available cash. Often, the money is simply stuck between doing the work and receiving payment. That delay is known as law firm lock-up, and reducing it can have a direct effect on the amount of cash available for salaries, tax,…
![Law Firm Financial Management: A Practical Guide for Small Law Firms]()
Introduction A successful law firm needs more than accurate accounts. Partners need to understand how quickly work is being converted into bills, how quickly those bills become cash, where money is becoming trapped and whether the firm has enough financial headroom to recruit, invest and grow. This is where financial management differs from bookkeeping. Bookkeeping…
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