Even when the invoice content is verified carefully, an invoice that has already been sent to a customer may sometimes require changes. There is no general guidance on how to make such changes, so it has to be considered case by case. The starting point is always the need for change: do you need to move the due date, change the payer, or perhaps modify the transactions on the invoice?
The Anti-Money Laundering Act, which took effect in July 2017, obliges law firms to know their clients and their business, and report any suspicious transactions or suspicions of terrorist financing. Kristiina Sare, Legal Attorney at the Finnish Bar Association, shared some tips and best practices for client identification at the Finnish Legal Assistant Day, which was arranged in April.
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.
The first time creates an indelible memory. This autumn the CSI Cloud service, well known for its reliability, got to be a collateral target of a Denial-of-Service attack.
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.
