Anti-Money Laundering (AML) compliance isn’t just a regulatory burden - it directly impacts how and when a law firm gets paid. Here’s how AML affects cashflow - often without firms realising it. 1. Delayed Client Onboarding = Delayed Revenue AML checks (KYC, identity verification, source of funds) slow down intake. Cashflow impact: Matters don’t open immediately Work is delayed Billing starts later Reality: A 3–5 day onboarding delay can push revenue recognition out by weeks. 2. Funds Held =...

Trust Audit Checklist Why This Matters Trust audits don’t create problems. They reveal what hasn’t been managed properly all year . If you prepare early, the audit becomes simple. If you don’t, it becomes stressful. 1. Trust Account Reconciliation Ensure all trust accounts are: Reconciled monthly (minimum) Up to date until 31 March Matching: Bank balance Client ledger balances Trust control account 👉 Any differences must be investigated immediately. 2. Client Ledger Balances Check that: Each...

Cash flow isn’t just about math—it’s about mindset . Law firm owners who manage their cash flow well usually have one thing in common:...