Law firm financials issues that lead to ethics trouble: Fees, trust accounts, basic accounting, credit card fees and bad data. A checklist.
When most of us think about ethics violations, our first thoughts turn to the more well-known issues: embezzlement, misrepresentation, undisclosed conflict of interest. However, small, mundane mistakes in your law firm financials can be just as devastating.
In “Five Ways Law Firms Fail at Financials” you will learn the common missteps law firms make when money changes hands:
- Setting fees
- Managing trust accounts
- Handling basic accounting processes
- Dealing with credit card fees
- Recognizing bad data
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Better understanding these five law firm financial issues will put your firm in a better position to prevent mistakes — and avoid problems with clients and state ethics regulators.
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