Law Firm Cash Flow Calculator
As advisers exclusively to law firms, Lawganised has got all the tools sorted to help you run your business smoothly. This law firm cash flow calculator is no exception. This calculator designed exclusively for law firms helps you regulate your cash flow by avoiding too many days without cash flowing through your law firm business. Just enter your details into the spreadsheet and discover the key to unlocking cash flow in your law firm.
As advisers exclusively to law firms, Lawganised has got all the tools sorted to help you run your business smoothly. This law firm cash flow calculator is no exception. This calculator designed exclusively for law firms helps you regulate your cash flow by avoiding too many days without cash flowing through your law firm business. Just enter your details into the spreadsheet and discover the key to unlocking cash flow in your law firm.
As advisers exclusively to law firms, Lawganised has got all the tools sorted to help you run your business smoothly. This law firm cash flow calculator is no exception. This calculator designed exclusively for law firms helps you regulate your cash flow by avoiding too many days without cash flowing through your law firm business. Just enter your details into the spreadsheet and discover the key to unlocking cash flow in your law firm.
About the Lawganised Cash Flow Calculator for Law Firms
In the legal world, managing cash flow is critical to your practice’s success, and a key indicator of financial health is your "Lock Up" days. If your firm’s Lock Up days are rising, it could signal an issue with uncollected or unbilled revenue. Our Cash Flow Calculator for Lawyers is designed to help you assess and reduce your Lock Up days, ensuring that your practice remains financially robust., now you know Lock Up is critical for your law firms success? But what is it and how is it calculated?
What is Lock Up?
Lock Up represents the total revenue your firm has earned through either unbilled or billed work that hasn’t yet been converted into cash.
Lock Up consists of two essential metrics:
Work in Progress (WIP) – Recorded work that your firm intends to invoice but has not yet been billed; and
Debtors – Invoices from billed work and disbursements that remain unpaid by clients.
In simple terms, Lock Up is the sum of revenue that hasn’t been billed (WIP) and revenue that has been billed but remains uncollected (Debtors).
Why Monitor Lock Up?
High Lock Up days can negatively impact your cash flow, limiting the funds available for reinvestment or day-to-day expenses.
With just a few simple steps, our calculator empowers you to determine your Lock Up and benchmark it against industry standards, providing clear insights into your practice's cash flow health.
Take control of your cash flow today and use our Cash Flow Calculator to optimize your practice’s financial performance.
Disclaimer
Lawganised offers this template for sale on LawAssist.Online on the following basis:
Lawganised is not a law firm and you acknowledge that by purchasing, downloading and customising this template, Lawganised or LawAssist.Online are not acting as your lawyer or providing you with legal or financial advice.
This template is an information tool only and should not substitute for or constitute professional legal or financial advice in relation to your legal practice or law firm. We recommend you consult one on one with a business adviser for detailed and customised information beyond this online tool..
All copyright in this document belongs exclusively to Lawganised. We grant you a one use non-exclusive, royalty-free, revocable license to use this document for the purposes of using it in your business. However, this document may not be copied, given to a third party, re-sold, reproduced, transmitted electronically or otherwise used in any way in whole or in part for the purpose of commercial gain by you for any purpose that may amount to competition with Lawganised or LawAssist.Online.