We deliver efficient payroll management, seamlessly integrated with our bookkeeping for law firms. Our all-inclusive services are customized to meet the unique financial needs of your firm. Handling client funds is a significant responsibility, and you must remember a large number of rules to conduct your role ethically and responsibly. However, it’s easy to make attorney bookkeeping and data entry mistakes when you have to maintain and complete your day-to-day transactions manually.

Outsourced Accounting for Legal Practices

• We’ll perform an in-depth analysis of your processes and uncover system weaknesses.
• First, you’ll deposit all retainer checks and similar money that belongs to a client in an IOLTA account.
• Managing all of your business transactions in a separate account makes it easier for you, your bookkeeper, and your CPA to manage your accounting.
• Mismanagement of client funds can result in disciplinary actions by the state bar association, including reprimand, suspension, or even disbarment.
• Choose from over 30 reports for revenue, risk, retention, and real-time insights.

Tailoring our communication style, strategies and insights to your business, culture and values. Track time in 6-minute increments (0.1 hour) with standardized charts; monitor attorney productivity and revenue generation. In those cases, make multiple outreach attempts via email or phone, and keep a log of every attempt. Documenting your effort shows due diligence and can help if the IRS audits your firm. The simplest way to avoid 1099-K headaches is to collect W-9 forms before you pay any independent contractor, vendor, or expert.

Experience and Expertise

You can’t How Bookkeeping for Law Firms Strengthens Their Finances wait until right before tax time to start tracking your finances. In fact, you can’t even afford to wait a week until you make time to enter your transactions. We recommend scheduling a time to track your finances at least weekly.

Some of the partners & clients we’ve worked with

Account numbers of the chart of accounts are structured to suit the needs of your law firm, the jurisdiction, and the practice area. Typically, there are 5 core categories consisting of assets, liabilities, owner’s equity, revenue, and expenses. Lawyer financial reporting provides insight into the firm’s financial health, highlighting key performance metrics like profit margins, client billings, and outstanding receivables. Accurate financial reports are essential for informed decision-making and compliance with tax regulations, ensuring sustainable growth for the firm. To provide law firms with accurate, compliant, and specialized bookkeeping solutions that ensure financial clarity, peace of mind, and the freedom to focus on legal excellence.

Yet, if you own a small firm with multiple attorneys, employees, or contractors, hiring a bookkeeper is more than worth it. The accrual method records income when it’s made and costs when they’re incurred, regardless of when the money is paid. This method gives you a better picture of your company’s financial health and is not affected by changes in cash flow.

• We partner with independent law firms, legal groups, and legal service organizations (LSOs) across various practice areas.
• Through our articles, guides, and newsletters, we provide trusted education on student loans, investing, and professional growth to help every reader move closer to financial independence.
• Keeping client funds separate ensures the money isn’t inadvertently used for your business or personal expenses.
• B2B legal fees subject to e-invoicing requirements from January 2027 (preparation in 2026).