December 26, 2024
Charles Lutwidge
What Is Return on Investment (ROI)?
Return on Investment (ROI) is a commonly used metric that facilitates the measurement of financial yield. Enterprises utilize it to analyze whether they allocate resources wisely and develop effective strategies to increase gain. Learning how to deploy innovative methods to...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
December 19, 2024
Charles Lutwidge
What are ACH Returns?
Making direct payments secure requires using the ACH system managed by the National Automated Clearing House Association (Nacha). Unlike regular wire transfers or cash remittances, ACH operations are considered better protected and more streamlined. When they fail to get settled,...
December 18, 2024
Charles Lutwidge
Improving Law Firm Accounts Receivable Management
Legal practitioners face a laborious endeavor when trying to close out their books without any issues. Achieving sustainable development necessitates embracing an effective approach to managing outstanding invoices. Entities facing payment delays must address cash flow problems to meet obligations...
December 13, 2024
Charles Lutwidge
Navigating Trust Accounting for Lawyers: Attorney’s Guide
In law firms, where every decision and action carries serious consequences, trust is the cornerstone of the lawyer-client relationship. Today, lawyers have not only the authority of advocacy but also the duty of financial guardianship. Trust accounting is fundamental to...
December 10, 2024
Charles Lutwidge
Ultimate Guide to Coding Invoices
Invoice coding involves categorizing spending and assigning them to particular accounts. At first glance, everything seems elementary, but such a process is often skipped when working with accounts payable (AP) or accounts receivable (AR). However, such neglect can cost more...
December 02, 2024
Charles Lutwidge
What Is a Purchase Order and How Does It Work?
If you plan to run a business, you must buy goods or services that will ensure the organization’s regular operation. Although purchasing processes are simple in small firms with minimal spending, they become more complicated as the business grows. In...
November 29, 2024
Charles Lutwidge
A Guide to Creating a Law Firm Chart of Accounts
Financial literacy is the key to long-term success and ethical practice in the competitive law market. A well-structured law firm chart of accounts unlocks a clear picture of its financial health. At its essence, it functions as a meticulously organized...
November 27, 2024
Charles Lutwidge
What Is a General Ledger Reconciliation?
Every business owner wants their firm to have clean books and records. General ledger reconciliation is a standard procedure that can help with that. It confirms that every entry is up-to-date and in line with the business’s transactions. In today’s...
