Legal accounting made easier, with content from Fleet Street Law and Alluvion

2. Differences Between Accounting
and Legal Accounting
•Trust accounting
–Statutory/regulatory duty
–Common law duty of trustee
•Growing need for Document Management
–Attaching reporting letters or memos to docket entries
•Increasing demand for mobility
–Lawyers on the move or virtual
–Loss of billables if not recorded contemporaneously

4. Accounting at Aluvion
A quick intro to Aluvion’s bookeeping
philosophy

5. Bookkeeping is important.
Bookkeeping doesn’t have to be hard.
Systems and Organization Drudgery
Bookkeeping keeps your client happy.
Transparent Billing Surprises
Bookkeeping increases profitability.
Profitable Work Delinquent
Accounts

6. Aluvion’s Bookeeping Principles
Track Everything!
-Many Small Entries (mistakes less important)
-Store Everything (reliability, analytics)
Filter Aggressively!
-Limit the noise
-Review and track

7. The Data Collection Funnel
Everything
Billing
Accounting
Every step of every task you completed in
the office.
A summary of every task/deliverable you
completed for every client.
The result of every financial transaction.

8. The Data Collection Funnel
Everything
Billing
Accounting
Daily and Weekly Review of ‘billable hours’
Bi-weekly Case File Reviews, Invoice
Reviews

9. Tools we use:
-Everything
-Billing
-Accounting

10. Docketing Tool
-Describe every task
-Tag them
appropriately
-Record time away
from computer on
mobile app, or any
other way you feel
comfortable

11. Daily Docketing Review
Daily email to review spreadsheet that grabs
‘billable hours’ from their timedoctor.
-Ensure only billable work is logged
-Ensure time measurements are correct.
-Add any time that wasn’t logged via computer.

12. Weekly Docketing Review
- Review Task Descriptions
-Consult internal Style Guide
re: F/U
John Doe the client
J.Doe john doe

13. Export from Spreadsheet to Clio

14. Systematize Reporting
Client
Intake
Form
Clio
-Contact
-Mater
CRM
-Source
-Closer
Client
File
-Know your
Client -
Retainer
Agreement
Xero
Information is entered once
Information is tracked in many different locations

15. Contact Information
• Email:
– omar@fleetstreetlaw.com
– omar.haredeye@ryerson.ca
– omarh@gzlegal.com
• Social Media:
– Twitter: @omarharedeye
– LinkedIn: ca.linkedin.com/in/torontolawyer/
(special thanks to Peter MacDonald at Aluvion for assistance with
this presentation)