In today’s competitive environment, running a profitable law practice can be
a challenge. To succeed, lawyers who are sole practitioners or who work in
small firms are forced to wear many hats. In addition to keeping up with developments in their area of legal expertise, they also have to juggle the responsibilities of running a law firm, from marketing and human resources,
to office management and accounting.
Understanding — and attempting to meet — the trust accounting requirements imposed by provincial regulators, such as the Law Society of Ontario
or the Law Society of Alberta, can be particularly demanding. Some lawyers choose to take on the task themselves, while others seek the assistance
of professional bookkeepers. In either case, according to Clyde McDonald, principal at Muskoka Legal Bookkeeping Services, investing in a robust
legal accounting software program is invaluable.…
“Without a doubt, PCLaw from LexisNexis. It’s the only legal accounting software program I recommend.”Read the rest of the case study.