ILTA WHITE PAPER: OCTOBER 2014 WWW.ILTANET.ORG
41
Year-End
Collections
Start January 1
About the Author
A certified public accountant with over 20 years of experience in the legal
industry, Scott Wirtz has participated in all aspects of Loeb & Loeb LLP's financial
management. He has successfully planned and implemented several financial
intelligence platforms. Scott's focus as the firm's Controller has been on moving
toward a paperless office and the electronic delivery of data to authorized
users. He is a frequent speaker at legal technology conferences on the topics of
paperless information delivery and reporting. Contact him at swirtz@loeb.com.
BEGIN COLLECTION EFFORTS AT CLIENT INTAKE
At the time of new client intake, check for several items that could
indicate the client might have difficulties with paying.
• Make sure conflicts are completely cleared before taking on a new
client. Clearing conflicts goes beyond what is submitted by the
originating timekeeper. It's a good idea to send internal newsletters
to all attorneys and staff advising them of all new matters. This
gives everyone the opportunity to chime in if there is something
the originating attorney or the conflicts system is unaware of.
Many law firms begin to focus on collections as
the year-end is approaching. But collections are
a year-round activity.