Cash Flow Confidence—How to Project Your Law Firm’s Cash Balance

In Episode 18 of The Law Firm Empress Podcast, Jessica Gonifas dives into the essential steps of cash flow forecasting to help law firm owners achieve financial clarity and confidence. Cash flow forecasting ensures you can cover crucial expenses—like payroll and rent—while building cash reserves for long-term stability. Jessica emphasizes starting with fixed costs (like rent or payroll) and planning for variable expenses, such as advertising, to project your revenue and expenses accurately. You will learn the importance of aligning cash reserves with financial goals, setting a target of at least three months of operating expenses, and planning owner distributions effectively.