How good are you at collecting debts?
I have a friend with a small solicitors practice. It is the principal plus three other solicitors. There are three other admin type staff. So four fee earners.
There is difficulty with cash flow and she has asked that I come and have a look at her accounts and debtors.
For this size of practice, what would you say would be an acceptable number of days in debtors? ie Total debtors (say at year end) divided by rough daily turnover.
Would appreciate anyones comments.
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