Client Accounting for the Law Office
Handling client accounts requires the legal professional to know not only proper accounting procedures, but legal ethics and the appropriate state law. This ideal text/reference covers the procedures and processes legal professionals must know to avoid the pitfalls of legal malpractice. Perfect for use by aspiring as well as working legal professionals, this practical book covers all the issues in client accounting for law offices - from accounts receivable to trust accounting and more.
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Nil CHAPTER 1 Accounting Fundamentals
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ABA Model Rule accounting staff accounts receivable adjustments allocation amount and/or assets Attorneys at Law automated systems bad debts calculation Carpenter & Cook cash method charges claims client file client ledger client WIP contingency fee control account copy corporation costs deposit Employer identification ensure equity errors expenses fee advance fee agreement field of practice file number firm's funds identify illustrated in Figure income income statement interest rate invoice issued law firm law office legal services liabilities manual systems ments nominal interest rate nonlawyer paid Paralegals partners partnership payment period person petty cash procedures professional real property records reports responsible lawyer revenue Schedule secretary separate source document specific statement Terry Baker timesheets Timeslips tion transactions trust bank account trust check trust receipts types United States dollars usually WIP disbursement WIP Ledger