There Are Number of Different Practice Management Systems On The Market These Days

There Are Number of Different Practice Management Systems On The Market These Days

There are a number of different practice management systems on the market these days. Some are better than others. Law firm managers and senior staff become quickly and acutely aware if the practice management software in use is not fit for purpose. Poor software can make tasks take longer, result in errors being made and, most importantly, lead to a frustrated workforce.

Good practice management software is imperative for a law firm that wants to ensure that their staff can work effectively, flexibly and with minimal errors. The hallmarks of good practice management software, are that it will:

1) Save Time

Look for a software system that can be personalised so that each member of staff can quickly and easily access information related to their role. In addition, a system which allows electronic processes to replace traditional paper exchanges is good for efficiency and the environment and can streamline the performance of your entire firm.

2) Improve Billing Performance

Your solicitors’ chargeable hours should be accurately and easily recorded. Good management systems will also enable bills to be generated accurately automatically. A management system which is designed with a full appreciation of the needs of a law firm will also provide for the management of daily accounts from the same system. Dealing with tedious tasks such as chits, disbursements and monies in and out should all be easily reconciled with the correct client account or even done automatically.

3) Provide Enhanced Risk Management

Some practice management software systems will now … Read More

The Risk of Being Disqualified As a Director Is The Nightmare Scenario That Hovers In The Back of Most Directors

The Risk of Being Disqualified As a Director Is The Nightmare Scenario That Hovers In The Back of Most Directors

The risk of being disqualified as a director is the nightmare scenario that hovers in the back of most directors’ minds. It is usually coupled with insolvency and bankruptcy proceedings, with all the associated difficulties those can bring.

Who Has the Power to Threaten a Director with Disqualification?

The Insolvency Service are tasked with pursuing disqualification of director cases. The basis behind most of these cases is that pursuing disqualification is regarded as in the public interest because of the “impact on every law-abiding tax payer”. In other words, the Insolvency Service is primarily motivated by ensuring that the tax burden is as fairly and widely spread as possible. On the face of it, it does not take into account the reasons behind a director’s actions, their motivations or the jobs and livelihoods that are put at risk whenever a director is threatened with disqualification.

Why Might I Face Disqualification as a Director?

Disqualification for Crown Debt is a frequently cited reason for disqualifying someone as a director. Figures from the Insolvency Service state that the average amount outstanding to HMRC in such cases is £975,740. However, in many cases, the outstanding amounts are considerable lower and often between £100,000 and £120,000. This means that even businesses with relatively low annual turnovers can run into problems in this area. Rising Crown Debt risks a director facing an allegation of treating the Crown unfairly or of trading that is detrimental to the Crown.

Failure to keep up to date and accurate … Read More