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This starter guide to legal accounting illuminates the crucial aspects of accounting for law firms, shedding light on the importance of meticulous financial oversight. One of the primary reasons specialized law firm accounting is crucial is the need to handle business checking account and trust accounts. Trust accounts are where client funds are held separately

When you collect patient payments upfront, you avoid sending bills and following up on outstanding balances. This is especially important for medical specialties with high self-pay patients, such as dermatology and plastic surgery. Offering patient financing options and interest-free payment plans can help you collect more money upfront. A disorganized collection process can hinder your