Canadian Response to COVID-19
What We Know About Canada’s Emergency Wage Subsidy So Far and other program available to Canadian business impacted by COVID-19. Updated on April 1, 2020 1. The Canada Emergency Wage Subsidy – upto 75% of wage subsidy: NOTE – it’s important to keep in mind there is...
ARE YOU READY FOR YEAR-END REPORTING?
We are in January again. You’re likely catching up on your emails and backlog from the holidays; however, don’t over-look that calendar year law firms should be completing their December accounts and focusing on drafting year-end financial statements. These year-end...
CosmoLex Partner Insights: Mayur Gadhia, Founder, CloudAct
Mayur Gadhia, Founder of CloudAct CPA Professional Corporation, shares his insights on recent challenges facing law firms, how technology comes into play to solve these challenges, and much more. Thanks for sitting down with us, Mayur!
Do you know your disbursements? Avoid Cash Leakage!!
Hard Cost What’s definition of Hard Cost? Hard Cost (or direct cost) can be identified as any disbursement a firm pays directly to a vendor on behalf of their client. These expenses may include filing fees, legal cost, expert witnesses, the cost of court reporters and...
2019 Year-End Financial Close Checklist for Law Firms
Attention Lawyers and Law firm: I co-presented along with CosmoLex team on Dec 12, 2019, topic - '2019 year-end financial close checklist for law firms'. If you missed the Webinar, here's the recording.
Continuous Accounting is the Key to Faster Close, Smarter Reporting
For many in the finance department, the phrase “financial period close” brings with it visions of long days filled with time-consuming, cumbersome and stressful processes. Yet, despite the time devoted to it, this record-to-report process ...
Avoiding Four Common Mistakes in an ERP Implementation and How Best to Work with Your SI
Technology implementations are always complex: There are new processes to plan for, vendors to manage, timelines and budgets to track, training, and on and on. After many NetSuite implementations, I’ve noticed ...
Five Tell-Tale Signs Your Business has Outgrown its Accounting Software
For business owners in Asia Pacific, there are a few common refrains when it comes to their software systems. “Our inventory system is very manual – there is a lot of duplication with data entry.” “We use a basic accounting package for ...
Cash Flow Management Tips for Law Firms
Cash Flow Management Tips for Law Firms When it comes to running a modern law firm, cash flow is king. However, the importance of maintaining a steady cash flow is sometimes lost amid discussions about augmenting the top line and slashing...
The Top 3 QuickBooks Challenges for Law Firms
Attention Lawyers and Law firm: I co-presented along with CosmoLex team on April 08, 2019, topic - 'The Top 3 QuickBooks Challenges for Law Firms'. If you missed the Webinar, here's the recording.