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What Forms Of Payment Should Your Firm Accept? – Above the Law


Even
if
you’re
not



making
out
a
money
order
to
Ice
Station
Zebra
Associates
,
the
process
of
retaining
a
lawyer
can
still
involve
inconvenient
and
unusual
forms
of
payment. 


Profitsolv’s
TJ
Kerr,
for
example,
remembers
retaining
a
law
firm
for
advice
on
an
employment
contract

and
then
being
asked
to
pay
a
retainer
through
a
wire
transfer.


“I
literally
had
to
try
to
figure
out:
How
does
a
wire
work?
Where
do
I
start?
What
do
I
do?”
he
said
on
a
recent
episode
of
the
Non-Eventcast.


So
what
payments
should
a
firm
accept? 


According
to
Kerr,
firms
should
accept
as
many
types
as
possible.
But
the
key
is
to
integrate
them
into
an
automated
system. 


“When
you
have
an
integrated
payment
solution,
everything
is
all
centralized,”
he
said.
“It
removes
all
the
middle,
hands-on,
manual
process
work
that
normally
would
take
place
to
reconcile
the
books.”


In
this
episode
of
the
Non-Eventcast,
Kerr
is
joined
by
host
Jared
Correia
and
Profitsolv’s
Joyce
Brafford
in
discussing
all
things
law
firm
payment:
from
the
security
risks
of
paper
checks
to
the
ethics
of
accepting
cryptocurrency. 


Tune
into
their
full
discussion
here.
(The
exchange
in
this
post
starts
around
the
10-minute
mark.)