Lynda ArtesaniLegal Accountant and Data Migration Specialist at The Proper Trust

Legal accounting is so much more than spreadsheets #lawfirm #lawfirms #podcast

14 May 2024 · 1 min

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In this segment, the speaker emphasizes that accounting work in law firms extends far beyond simply posting journal entries. When a journal entry is recorded, it triggers downstream effects that must be verified, such as changes to bank accounts and the clearing of accounts receivable. The speaker uses this technical point to illustrate a broader practice: asking probing, insightful questions of clients to uncover the real issues behind their statements. By digging deeper and creatively interpreting the financial data, accountants can build confidence with clients and demonstrate the value of their expertise beyond basic spreadsheet work.

Chapters

One of the tools that we use in accounting, and I run into this when I'm training new people, is teaching them that the effect of their work goes a lot deeper than just posting a journal entry. When, when you post the journal entry, then you've got to go back and see what its effect was on the bank account. You know, did it clear out that accounts receivable? Did it do what you needed it to do behind the scenes? This ties into what we're talking about today. With those probing questions with the client. What are they saying? What are we hearing? And what's the underlying piece of that? And that's where you can get creative and really create that confidence with them. So true.