Yes, lawyers can ethically charge late fees, but it’s essential to follow proper procedures. This strategy can be an excellent way to promote on-time payments and ensure health cash flow, but attorneys who plan to charge late fees for past due accounts should make sure to: ✔️ Disclose the policy in writing up front ✔️ Explain your policy to the client during onboarding ✔️ Avoid describing the late fee as a "penalty" as this is prohibited by some state boards. If you need help implementing ethical billing practices, working with a specialized bookkeeper for attorneys can be a big help! Reach out to us any time for advice and support. #LegalEthics #BillingTips #LawFirmManagement
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Have you thought about who would make important decisions for you if you were unable to? 🤔 A Lasting Power of Attorney (LPA) gives you peace of mind knowing that someone you trust can step in when needed. Here's how it can benefit you: ✨ Control over your future – You choose who handles your finances or health decisions if you can't. ✨ Financial protection – Ensure your bills are paid, and your property and assets are managed correctly. ✨ Health & care choices – Decide who can make decisions about your wellbeing and medical treatment. ✨ Reduce stress for loved ones – Avoid family disputes or delays in decision-making. ✨ Quick & simple – An LPA ensures things are handled swiftly without costly court delays. Don't wait until it's too late – get in touch with us today to discuss how easy it is to set up an LPA and secure your future! 💬 #LastingPowerOfAttorney #EstatePlanning #FuturePlanning #PeaceOfMind #ProtectYourFamily #FinancialSecurity #HealthAndWellbeing #LegalAdvice #WillsAndTrusts #LPA #HoneyLegal
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It's not uncommon for lawyers running solo or small law firms to struggle with late payments. An efficient billing and invoicing system can play a significant role in minimizing this issue and freeing up your time for profit-generating work. Here are five strategies to streamline your billing process: 1️⃣ Set clear billing expectations from the start. 2️⃣ Keep grace periods brief and implement late fees. 3️⃣ Bill more frequently and consistently. 4️⃣ Enable automated payments. 5️⃣ Send gentle, timely reminders. Implementing these practices not only mitigates the risk of late payments but also optimizes your cash flow – ultimately offering peace of mind. Have you tried any of these strategies? How have they impacted your operations? Share your experiences below. ⬇️ #lawfirmmanagement #invoicing #billing
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Encumbered by manual processes and seeking a better way to send bills and A/R notices, Danna McKitrick, PC, selected BillingQ to integrate with the firm's #financialmanagementsystem and add automated workflows to its billing process. The result? 👉 A/R Notices are sent based on workflow settings. They consist of a professional email and one combined PDF attachment that includes a Statement of Account linking to detailed bills that are outstanding. 👉 Redundant manual tasks are automated - freeing staff time for higher-value projects while more effectively involving billing attorneys. 👉 Client portal for superior client experience and is fully integrated into automated workflows, enabling the firm to get paid faster. See why law firm's are choosing BillingQ: https://nqzw.com/billingq/ #clienttestimonial #thankyou #legaltech #FoundMoney #Billingsolutions #QueuesPowerWorkflows #BringingItAllTogether
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If you or your loved ones own small businesses, you may be subject to the Corporate Transparency Act, a new bipartisan law requiring small businesses to report information to the federal government about who owns and controls them. Fines are steep at $591 per day the reporting violation continues. Stay informed: https://lnkd.in/gi9NKtVp #cta #corporatetransparencyact #beneficialownership #wolterskluwer #smallbusiness
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Law firms have historically relied on protected accounts to fund assessments and disbursements. Rising interest rates and delays in adjudication have made this more difficult for health care/IME providers and law firms, alike. By freeing up funds through Disbursement Financing, firms can cover operating expenses, obtain more files or pay partner distributions. Connect with Jennifer Baic to discuss: 1-866-800-2100 ext. 107 #CashFlowManagement #DisbursementFinancing #LawFirmSolutions #EasyLegalFinance #OntarioLawFirms
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Are you worried about losing the ability to manage your finances or who will make decisions about your healthcare needs? If so, we advise you consider making Lasting Powers of Attorneys. Call us on 01706 227300 or visit our website to arrange an appointment with Nicola or Matthew to discuss LPAs. #LPA #healthandwelfare #propertyandfinancialaffairs #officeofthepublicguardian
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𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 𝐟𝐨𝐫 𝐔𝐊 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬: 𝐄𝐧𝐬𝐮𝐫𝐞 𝐘𝐨𝐮𝐫 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐎𝐟𝐟𝐢𝐜𝐞 𝐀𝐝𝐝𝐫𝐞𝐬𝐬 𝐌𝐞𝐞𝐭𝐬 𝐍𝐞𝐰 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐑𝐮𝐥𝐞𝐬 At CapShire, we want to ensure our clients and connections are up-to-date with the latest regulatory changes that could significantly impact your business. Under the newly introduced 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗖𝗿𝗶𝗺𝗲 𝗮𝗻𝗱 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗔𝗰𝘁 𝟮𝟬𝟮𝟯, Companies House has tightened the rules surrounding registered office addresses. Companies must now ensure their registered office is an ‘appropriate address’—or risk facing serious penalties, including fines of up to £𝟭,𝟬𝟬𝟬. Here’s what you need to know: 𝐖𝐡𝐚𝐭 𝐪𝐮𝐚𝐥𝐢𝐟𝐢𝐞𝐬 𝐚𝐬 𝐚𝐧 ‘𝐚𝐩𝐩𝐫𝐨𝐩𝐫𝐢𝐚𝐭𝐞 𝐚𝐝𝐝𝐫𝐞𝐬𝐬’? - The address must be a location where documents addressed to the company can be reliably delivered and acknowledged. - The use of PO Boxes, or similar services, is no longer permitted as a registered office address. - Companies using third-party providers must ensure their service meets these new requirements. 𝐖𝐡𝐚𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐬 𝐢𝐟 𝐲𝐨𝐮𝐫 𝐚𝐝𝐝𝐫𝐞𝐬𝐬 𝐝𝐨𝐞𝐬𝐧’𝐭 𝐦𝐞𝐞𝐭 𝐭𝐡𝐞 𝐜𝐫𝐢𝐭𝐞𝐫𝐢𝐚? - Companies House may change your registered office to a default address. - You’ll have 28 days to provide a compliant address, or your company could be struck off the register. 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐒𝐜𝐫𝐮𝐭𝐢𝐧𝐲 𝐚𝐧𝐝 𝐒𝐚𝐧𝐜𝐭𝐢𝐨𝐧𝐬 - Companies House now has greater authority to challenge and remove inaccurate or misleading information. - Companies found in violation may face financial penalties, public annotations on their records, and even prosecution. 𝐀𝐜𝐭𝐢𝐨𝐧 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐝: - If your company’s registered office address might not meet these new standards, we strongly advise reviewing and updating it as soon as possible. - -- Ensuring compliance is critical to avoiding potential penalties and disruptions to your business. At CapShire, we’re here to help. If you need assistance in navigating these changes, don’t hesitate to reach out. Let’s work together to keep your business compliant and secure. #Compliance #EconomicCrimeAct #CorporateTransparency #CapShire #UKBusiness #CompaniesHouse #CorporateGovernance #Accounting #Taxation #hmrc
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Law firms have historically relied on protected accounts to fund assessments and disbursements. Rising interest rates and delays in adjudication have made this more difficult for health care/IME providers and law firms, alike. By freeing up funds through Disbursement Financing, firms can cover operating expenses, obtain more files or pay partner distributions. Connect with Jennifer Baic to discuss: 1-866-210-7200 ext. 107 #CashFlowManagement #DisbursementFinancing #LawFirmSolutions #SettlementLenders #AlbertaLawFirms
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Is your law firm's billing process costing you money? 💸⚖️ Did you know: 12% of billable hours go unrecorded on average 20% of invoices face client disputes 45 days is the typical wait for payment The Legal Billing Group can help you: ✅ Capture more billable time ✅ Reduce invoice disputes ✅ Accelerate payments Our tailored solutions optimize your billing process, ensuring you get paid faster and more fully for your valuable work. Ready to boost your firm's financial health? Let's talk! Book a FREE consultation today! #LegalBilling #LawFirmSuccess #FinancialOptimization
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Hundreds of Post Office convictions to be quashed Hundreds of sub-postmasters found guilty as part of the Post Office Horizon scandal are to have their names cleared, after the law quashing their convictions was approved by Parliament. It was one of the final bills to pass before MPs break up ahead of the general election in July. The law applies to England, Wales and Northern Ireland - the Scottish parliament is to pass its own bill to quash convictions. The case is seen as one of the greatest miscarriages of justice in British legal history. Between 1999 and 2015, more than 900 sub-postmasters were wrongly prosecuted due to faulty accountancy software called Horizon, which showed errors that did not exist. Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined. A public inquiry into the Horizon scandal is ongoing and this week has been hearing from former Post Office boss Paula Vennells. The passing of the Post Office Horizon System Offences Bill means all convictions will be quashed of people convicted of theft, or false accounting between 1996 and 2018 while working in a Post Office using its flawed IT system. Those who have their convictions overturned will be eligible for compensation payments from the Horizon Convictions Redress Scheme, which will be set up after the legislation is passed. The unprecedented law has been driven through in the wake of the public outcry brought about by the ITV drama Mr Bates vs the Post Office broadcast. The law has been controversial with judges because for centuries it has been the job of the courts to address unsafe convictions, not Parliament. But the government argues the exceptional scale and circumstances of the scandal mean it will not set a precedent. News credit BBC News #news #dailynews #dailynewsupdates #viralnews #trendingnews #fintechnews #financenews
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