Written By Devon Thurtle Anderson, CEO of Financial Consulting Firm, Skepsis
When I first left my law practice to become a law firm bookkeeper and financial strategist, I was shocked to discover how many law firms struggle with cashflow. Even more surprising was that this struggle isn’t just limited to a few seemingly rag-tag solo general practice firms. To the contrary, when I had a chance to look under the hood at dozens of law firms’ books and financial records – including law firms I had always seen as hugely successful – I learned that almost every law firm has a cashflow problem within any given 12-month period. So, as part of my bookkeeping and consulting services, I set out to change that.