043: What Most Solo Attorneys Get Wrong About Law Firm Profitability with Bree Herman
Sam Price sits down with Bree Herman, founder of Herman Ledge Services, to talk about the financial systems that keep law firms out of trouble and in the black. Bree works with solo attorneys and growing firms across the country, specializing in Clio Manage and QuickBooks Online, and she brings a practitioner's clarity to topics most attorneys would rather avoid.
In this episode, Bree walks through the Clio features firms underuse, how trust account reconciliation actually works, why your bank balance is not your cashflow, and what it takes to know whether a case was actually profitable.
If you have ever wondered whether your firm's finances are as clean as your filings, this episode gives you a place to start.
In this episode, you will hear:
- Using Clio matter templates to cut setup time and enforce consistency across staff
- Why your bank balance is not a reliable measure of firm health
- Trust account three-way reconciliation and how to do it correctly
- Tracking profitability at the case and matter level, not just firm-wide
- How to build a cashflow picture that accounts for uncleared checks and advance costs
- The role QuickBooks Online plays alongside Clio in a compliant financial system
- Knowing when to ask for help before the books become a problem
Resources from this Episode
https://hermanledge.com/booking
https://www.linkedin.com/in/bree-herman/
The 6-Stage Probate Process: How to Navigate California Probate: https://a.co/d/82310Rw
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