Our Blog
Budgeting for Financial Success
There are many aspects to running a successful business – and creating an annual budget is high on the list. A budget is a financial plan that will assist business owners to set realistic financial goals and help them achieve their business goals. When done accurately...
Why (and How) to Take Time Off
When I started Main Accounting Services in June of 2016, I remember spending pretty much every waking hour working on and in the business. This is not unusual for business owners when they are in startup mode. But after a couple of years, I realized the long hours...
Accounting Terms Every Law Firm Owner Should Know
Main Accounting Services’ mission is to empower law firm owners to understand their finances – and provide the peace of mind that comes with having professional partners to assist with accounting functions. One of the keys to managing your firm’s finances is to become...
Trust Reconciliations
Trust accounting, in theory, is relatively simple. All law firms who receive funds from a client for a refundable retainer or settlement should be properly classifying and reconciling the trust balances with a systematized trust accounting procedure. However, if the...
1099 Best Practices
Does your law practice pay for services provided by someone who is not an employee? If so, you need to issue a 1099 form to the Internal Revenue Service. Simply put, a 1099 (also called an information return) is a form that documents payments made to non-employee...
Is it Time to Consider Outsourcing?
Small business owners often start out with limited resources and take on many of the day-to-day responsibilities. If you find yourself handling everything from accounting, marketing, human resources, and IT to growth planning and team building, you’re not alone. As...