How To Get The Most Out Of Your Law Firm Financial Systems

There's that old Saturday Night Live skit where Chevy Chase is playing Gerald Ford during the Presidential debates, and in response to a question, replies: "I was told there would be no math."

That's pretty much every lawyer I've ever met. But if you can effectively set up and manage software in your law firms, financials can be a piece of cake.

That's why we invited Peggy Gruenke, of CPN Legal, onto the Non-Eventcast.

Peggy is a law firm accounting expert, and specializes in linking law practice management software to accounting programs in a way that makes it simple and effective for attorneys to manage their time, billing, and accounting processes.

We start by focusing on why it's so important to just jump in and commit to cloud software, like Quickbooks Online (4:23, 7:01), before discussing how best to manage the integration required between your accounting software of choice (probably Quickbooks or Xero) and your law practice management software (9:57).

Peggy then waxes poetic (yes, it's possible) about utilizing default reporting tools in financial management software and about when and how you should opt for custom reporting options (13:27, 18:23).

We finish up by talking about managing expenses (25:52), and when you need to consider reaching out to an expert, for help (27:26).

Don't keep sticking your head in the sand, when it comes to your law firm finances; this is your chance to better understand what you're looking at, and making better business decision based on what you see.

And while you're here, feel free to check out our Time Billing & Payments Buyer's Guide to consider an upgrade to your system.

Jared Correia, a consultant and legal technology expert, is the host of the Non-Eventcast, the featured podcast of the Above the Law Non-Event for Tech-Perplexed Lawyers.