We talk accounts receivables and how modern lawyers are getting paid, how they’re getting stiffed, and what to do about it with lawyer, entreprepreneur, and CEO of Headnote, Sarah Schaaf.
How Should A Law Firm Handle Accounts Receivable?
Today’s Hot Take is from lawyerist.com “Collect Call: The Best Way to Handle Accounts Receivable is to Eliminate Them,” By Jared Correia. This is a Q&A session on Lawyerist, where Jared answers law firm marketing or management questions from actually attorneys. In particular, the question this time is about billing, and is summed up with this quote:
“I run my own firm, I feel like I never have money, and then I realize I haven’t billed anyone for 3 months.”
It’s an in-depth article by a lawyer who has faced these issues, and he offers advice, including get it upfront, eCommerce – make it super easy! – and don’t get lost in the work for a non-paying clients. It’s awkward asking for things, no getting past that, and unfortunately you can find yourself in an adversarial situation with a client you were just recently working side by side with, which can make it even more awkward. As we find out later with Sarah, the best way to handle these situations is to head them off at the pass, and there are solutions available to assist. As Jared closes with:
“If you want to take home the money you’re making, it’s time to start paying attention to your accounts receivable, and to act to reduce that figure simultaneously. Get paid early, and often; and, maybe you’ll finally be able to afford that Plymouth Superbird.”
Providing Real Solutions For Billing and Accounts Receivable for Law Firms
Sarah Schauff holds a JD degree from Loyola University Chicago School of Law. She has worked for various companies Including a stop at the legal department of Google before leaving the practice of law become the founder and CEO of Headnote, the leading provider of legal billing software dedicated to helping lawyers get paid faster and more efficiently. It is this endeavor that has brought her to the LAWsome studios today and we are so grateful she could join us.
Get More Information About Law Firm Billing, Accounts Receivable for Lawyers
Be sure to listen to the entire podcast episode for information and conversation about dealing with getting paid, accounts receivable and billing solutions for law firms. If you want more LAWsome subscribe to the show on your favorite podcast platform, and for the latest in legal marketing insights and information be sure to subscribe to the Consultwebs Newsletter here –>SUBSCRIBE<—