Law Firm Bookkeeping Resources
IOLTA trust accounting, partner distributions, matter-based billing, and compliance resources for law firms of all sizes.
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Law Firm Bookkeeping: The Complete Financial Management Guide
Complete guide to law firm bookkeeping — IOLTA trust accounting, partner distributions, billing models, KPIs, and when to outsource. Built for managing partners.
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IOLTA Three-Way Reconciliation: The Monthly Process That Protects Your License
IOLTA Trust Account Reconciliation: Step-by-Step
Step-by-step guide to IOLTA trust account reconciliation for law firms. Three-way reconciliation, common violations, and compliance best practices.
Law Firm Partner Distributions, Draws & K-1 Allocations Explained
Partner Distributions and Equity Tracking
How to track partner distributions, equity, and K-1 preparation for law firms. Covers eat-what-you-kill, lockstep, and hybrid compensation models.
Clio vs CosmoLex (2026): Category-by-Category Comparison
Best Software for Law Firm Bookkeeping in 2026
Compare the 8 best law firm bookkeeping software platforms in 2026 — Clio, CosmoLex, QuickBooks + LeanLaw. Includes IOLTA trust accounting compliance, pricing breakdowns, and specific recommendations by firm size.
Matter-Based Billing vs Flat Fee Accounting
Compare matter-based billing and flat fee accounting for law firms. Revenue recognition, WIP tracking, realization rates, and which model fits your practice.
7 Financial KPIs Every Managing Partner Should Review
The 7 financial KPIs every law firm managing partner needs to review monthly. Benchmarks, formulas, and red flags for realization rate, collection rate, and more.
Law Firm Accounting: Cash vs Accrual Basis
Cash vs accrual accounting for law firms — tax implications, IRS requirements, and which method fits your firm size. Includes conversion guidance.
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Latest News
IRS Ordered to Repay Baltimore Law Firm $1.5M After Wrongful Alter-Ego Levy
A Maryland federal court has ordered the IRS to return more than $1.5 million it levied from a Baltimore law firm’s operating account, ruling the agency failed...
89% Noncompliant: California Law Firms Fail Trust Accounting Pilot as CTAPP Reviews Ramp Up
A voluntary pilot by the State Bar of California delivered a sobering result: 16 of 18 participating law firms — fully 89% — maintained noncompliant client...
83% Noncompliance Exposed: California Law Firms Scramble as CTAPP Trust Account Reviews Ramp Up in 2026
A voluntary pilot by the State Bar of California delivered a sobering assessment of trust accounting practices: 83% of participating law firms kept...
California Mandates 'Designated Licensee' for All Trust Accounts as of January 1, 2026
Effective January 1, 2026, new requirements under Business and Professions Code section 6091.3 and rule 2.5 of the Rules of the State Bar will apply to all...
Three-Way IOLTA Reconciliation Now Mandatory in 12 States — Firms Have 90 Days to Comply
Twelve state bar associations have adopted a uniform IOLTA compliance standard that cuts the monthly reconciliation deadline from 45 days to 30 and mandates...
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