Category: Bookkeeping

Keeping operating and trust accounts separate helps prevent accidental commingling, protects client money, and ensures compliance with bar regulations. The purpose of accounting for law firms should extend beyond compliance with lending, tax and state bar reporting requirements. Every transaction in and out of these accounts must be properly recorded and documented. Mishandling trust/IOLTA accounts… Continue reading Law Firm Bookkeeping and Accounting: A Complete Guide

In the financial statements, this type of spoof leverage is represented under the list of liabilities. Financial leverage helps you to continue with your investments even if the business does not have enough cash. Equity financing is the most preferred option in this case, as it allows you to raise money without liquidating your ownership.… Continue reading Financial Leverage Meaning, Ratio, Calculation, Example

To find out more about how AccountsPortal can support you as you move into freelance accounting, start a 30-day free trial or get in touch with us via our support pages. If you’re thinking about going freelance, the chances are you have a fair amount of experience in the accountancy sector, so don’t be afraid to reach out… Continue reading How to Start a Freelance Accounting Business

Rules vary significantly by jurisdiction, and what worked in 2025 may need adjustment if you’ve expanded into new practice areas or begun serving clients in additional states. Many firms discover gaps only when facing an audit, which is the worst possible time to learn your procedures are inadequate. With multiple systems and applications to integrate,… Continue reading Attorneys, Lawyers, Law Firm, Legal Services

Content Employment Taxes How To Calculate Taxes For Your Small Business Calculate Your Estimated Quarterly Taxes For Free What Does “principal Place Of Business” Mean? How To Figure Out Your Tax Rate If Youre A C Corp The computation itself is basic, and requires no specialized knowledge; take care, however, to input the numbers correctly… Continue reading How To Calculate Franchise Taxes