3 tips to dramatically cut WIP and Lockup in your firm

3 tips to dramatically cut WIP and Lockup in your firm

Reading Time: 3 minutes | Do your accounts and bank statements and show a widening gulf between your billings and what clients have actually paid? Even if that gap isn’t widening, it’s frustrating and stopping you from spending some of our hard earned income. Here are three tips to cut WIP and...
Monthly billing – Magical or Mayhem?

Monthly billing – Magical or Mayhem?

Reading Time: 3 minutes | Several small accounting firms have been talking about moving to monthly billing lately. Maybe it’s part of ‘let’s get fit for purpose’ after January. Maybe they’re thinking about MTD and cloud accounting. It might be me knowing that a lot of successful small firms...
Debtors taking the *** – How do you feel?

Debtors taking the *** – How do you feel?

Reading Time: 2 minutes | What do you think of businesses that don’t pay their bills on time? No, stop, what do you think about people that don’t pay their bills on time? This has nothing to do with businesses, and everything to do with individuals choosing to not pay.   This article...
What is business growth?

What is business growth?

Reading Time: 3 minutes | What is Business Growth? When growing your firm should you be Profit or growth led? This caused some debate in various LinkedIn and other discussion groups recently. Here’s a summary of some of them (and some more thoughts). You’re running your own small firm, should...
Cash Flow improvements – Your 5 point check list

Cash Flow improvements – Your 5 point check list

Reading Time: 2 minutes | Is it that the economy has uncovered poor practice regarding cash flow, or that the economy has made clients worse at paying on time? It doesn’t really matter! What I do know is that professionals do suffer cash flow problems – even though it takes a while...
Running a Law Firm and keeping the wolves at bay

Running a Law Firm and keeping the wolves at bay

Reading Time: 2 minutes | Is it a bad time to be running a law firm, or can you survive – in fact thrive? It’s a tough market out there generally, but are law firms subject to even more problems? It seems more law firms are “going bust” and it appears the contingency...