Outsource Law Firm Accounting and Bookkeeping Services

Ask other attorneys you know or ask your State Bar for referrals. Any CPA should be willing to sit down with you for a free consultation. Trust accounting causes a lot of problems for lawyers, so, in general, you’re going to need to follow a couple of steps to ensure compliance with IOLTA rules. You recognize revenue when cash is received and expenses when money is paid. This method doesn’t use more complicated concepts like accounts receivable or accounts payable because you only count the cash as it moves into and out of your financial accounts.

Our Bookkeeping and Accounting Services

Well prepared books reduce tax stress and last minute issues. Monitoring cash flow helps ensure funds are available for daily operations. We handle daily bookkeeping tasks such as data entry, reconciliation, and reporting. This allows your internal staff to focus more on client service and legal matters. https://www.yuks.co/law/the-primary-aspects-of-bookkeeping-for-law-firms/ Clear billing and trust statements are provided to clients on a regular basis. This reduces billing questions and prevents unnecessary disputes.

Experience and Expertise

A desire to evaluate current software capabilities and market comparisons should be part of any Law Firms future growth. AFL encourages all lawyers to remember R.D.F. when considering a migration from one practice management/legal bookkeeping software. In the past 20+ years, Accounting for Law has focused on this specialized skill-set in this niche area, and we continue to grow and expand our services. We have bookkeeping professionals who are certified by LexisNexis in PCLaw, Cosmolex & Ghostpractice on staff. Law firms who benefit from the services of Accounting for Law include firms across Canada.

• To connect with our team of experts, consider contacting us today.
• Our team handles it all—so you can stay focused on clients, billing, and building your practice.
• Accounting and bookkeeping happen at different stages while managing your small law firm’s finances.
• The remaining time is allocated to business development, administrative tasks, training, and pro bono work.

Elevating Client Support with Citrin Cooperman

As your law firm grows, our bookkeeping services expand smoothly to support increased activity. New cases and clients are added without disrupting existing systems. Law firm bookkeeping services track deductible expenses, payroll taxes, and income for tax readiness. Well organized records make tax filing faster and more accurate.

Law firms How Bookkeeping for Law Firms Strengthens Financial Health are currently starting to feel the significant changes in technology which has resulted in a strong demand for bookkeepers with advanced skill-sets. The Trust ledger provides a summary of all the transactions involved in a trust account. Accountants also help you with strategic tax planning, analyzing your business financial position, forecasting, and tax filling.

• Start your free consultation today and take control of your trust accounts.
• Every financial transaction involves at least two accounts, including debit and credit.
• You can research this on your state government’s website, and consult with your CPA.
• Better control directly supports improved firm profitability.

Explore Our Client-Centric Approach

• If that’s your billable rate, then that’s what you’re effectively doing.
• With our dedicated and experienced bookkeepers, you potentially transform the financial management of your law firm.
• Get deeper oversight with part-time controller support—ideal for firms needing tighter controls without full-time costs.
• TimeSolv improves accuracy, reduces admin work, and accelerates payments.
• Concerns over confidentiality, potential dissatisfaction, and other risks make financial transparency within the firm a delicate issue.

Whether you’re a solo practitioner or managing a growing firm, we provide reliable support so you can focus on serving your clients with confidence. TimeSolv was designed for the legal professional who needs accuracy, compliance, and speed. With trust accounting and ABA task codes to 31 built-in reports, it’s everything your firm needs to bill without stress. Lawyers and staff spend more time on client matters rather than reconciling accounts.