Guides · 9 sourced guides
Where firm cash goes missing, and what UK law says about it.
Each guide is written for a UK professional firm and links every factual claim to the statute, regulator or study behind it. Worked examples use invented figures and say so.
All guides
- Revenue leakageRevenue leakage in professional firms: where earned money goes missingRevenue leakage is money a professional firm has earned and does not collect. This pillar guide maps five leak points from pricing to renewal, gives the published figures behind each one, shows how to size the leak in pounds, and links to the guide that goes deeper on every point.1,982 words · 7 sources
- Work in progressUnbilled WIP in UK law firms: how to find it, value it and bill itUnbilled work in progress is the first half of lock-up. This guide shows how to measure it in days, what a published example says it is worth, which two statutes govern a solicitor's right to chase unpaid costs, and how to run a one-afternoon review of your own matter list.2,234 words · 4 sources
- Cash conversionLock-up days explained: the formula, a worked example and six fixesLock-up days measure how long a firm funds its clients' work. This guide gives the two-part formula, a worked example with every figure shown, a published example from the ILFM, and six fixes ordered by which half of the number is larger.2,055 words · 4 sources
- DebtorsChasing late invoices in the UK: interest, fixed fees and the steps before courtUK law lets a supplier charge statutory interest and a fixed recovery sum on late business payments. This guide sets out the rules from GOV.UK and the Act itself, the pre-action steps a court expects, and a four-step chasing ladder that uses them in order.2,345 words · 11 sources
- AI in practiceAI-assisted billing review for professional firms: what the evidence supportsResearch finds that AI speeds up routine work and degrades accuracy on harder judgement tasks, and the SRA says accountability cannot be delegated. This guide turns those findings into a sample-test protocol for using AI on WIP and debtor review.2,142 words · 4 sources
- Data protectionUK GDPR and AI tools: a client-data checklist for small firmsClient data entered into an AI tool is personal data processing under the UK GDPR. This guide walks through the four articles that matter, the ICO's view of when an impact assessment is needed, and ten questions to answer before a tool goes live.2,258 words · 10 sources
- Accountancy practicesDebtor days and WIP in an accountancy practice: measure, recover, collectAn accountancy practice leaks cash in three places: work that is under-recovered, work that is billed late and bills that are paid late. This guide gives a formula for each, a worked example, ICAEW's published recovery-rate arithmetic, and the collection steps that apply to company and sole-trader clients.1,791 words · 8 sources
- Recurring incomeRenewal leakage for insurance brokers and IFAs: what the FCA rules and review sayRecurring income leaks when renewals slip and when ongoing fees do not match the service delivered. This guide sets out what ICOBS 6.5 requires at renewal, what the FCA found on ongoing advice reviews, how the Consumer Duty defines fair value, and a monthly reconciliation that checks fees against delivery.1,690 words · 3 sources
- Choosing a routeRevenue recovery for professional firms: audit, collection or process fix?A professional firm that wants to recover revenue can hire a collector, commission a review, or fix its own process. This guide shows which half of the cash cycle each one touches, what the law lets you do yourself, and a seven-question checklist for choosing, with our own fixed prices stated.1,539 words · 8 sources
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