BEST PRACTICES OF SALES LEDGER MANAGEMENT

15 April 2019

Invoicing and payment related questions have been part of my daily work for years; formerly when managing a sales ledger in a law firm and currently as instructing CSI clients on software use.

Each month there is a period when most of the questions are related to changes in the sales ledger. Such changes can be made in multiple ways, and sometimes it may be hard to see which way is the most optimal and matching with good accounting practices.

In my blog text series, I’ll aim at sharing common good practices for managing the sales ledger in CSI Lawyer. In this article, I focus on the significance of correct dates and on how changes to the sales ledger are reflected in bookkeeping reports.

However, please keep in mind that there might be country-based exceptions to these best practices. Which do not necessarily apply outside Finland. So if required, please check with your accountant.


FAVORITE TAKEAWAYS FROM VQ FORUM

22 November 2018

This was my second time attending VQ Forum. Personally, I enjoyed the day immensely, meeting many attendees and listening to the presentations and panel discussions. Iit was also a successful event from CSI’s point of view. We met several delegates and firms looking for a new software for client management, time registering, invoicing and reporting. As a sponsor, we also had the opportunity to present our company and its journey in Sweden – and to share the good news of CSI’s business growing steadily.

While listening to the presentations I was struck by their relevance for us as a software provider or companies in any industry. Several presenters highlighted that law firms are not that much different from other companies - their businesses are ruled by the same market forces and challenges as all are. The following five ideas were my favorite takeaways.


PROJECT MANAGEMENT FOR LAW FIRMS WITH LEGAL SCRUM?

30 August 2018

The legal innovation event Lexpo was a good reason to visit Amsterdam again in May. We found one of its key themes, "Legal Project Management", as the most striking topic.

Law firms put a lot of effort into providing a customer with the best possible price estimate for a new assignment. Often, there is much less focus on ensuring that the actual cost matches with the given estimate. The final invoice is essentially affected by project management skills of the responsible lawyer. In the worst case, the overrun of the agreed price cap is only noticed in the invoicing stage.


GDPR – THREE WEEKS LATER

14 June 2018

The GDPR project in CSI Helsinki started in spring 2018 when a global software company told in a webinar about the forthcoming changes in the EU legislation. The speakers got everyone’s attention by stating that infringement of the new regulation would cost them several billions of euros.

The threat of sanctions is something I’m sure everyone working with GDPR projects remembers as the first incentive to learn more about the regulation and to take action.

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