The cornerstones for a successful law practice are effective and efficient accounting, billing and general practice management. Accounting generally consists of bookkeeping and billing in law firms. Accounting forms an integral part of any legal practice. There are several manual and computerized options available to manage and record funds flowing in and out of a law firm or a solo practice. Recently the trend has been towards heavy dependence on accounting and billing software.
The more a practice can streamline it practice managment, the more time and resources it frees up for client development and service.