Law Firm Accounting FAQs
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Who do you work best with?
Small to midsize law firms that want consistent, accurate books and clear financial visibility. Firms that are ready to delegate invoicing, bookkeeping, trust accounting, and reporting so the partners can focus on clients and growth.
How is law firm accounting different from regular bookkeeping?
Law firms must follow specific trust (IOLTA) rules and ethics requirements that general small-business accounting overlooks. Revenue, retainers, and client costs must be diligently tracked for profitability and compliance purposes.
Can you handle our trust/IOLTA accounting?
Yes. Services typically include recording client retainers, tracking client balances, and performing monthly three-way trust reconciliations.
What systems do you support?
Common platforms include Clio, MyCase, and similar practice management systems, integrated with QuickBooks Online. Support usually covers setup, cleanup, and workflows so time entries, billing, and accounting all tie together between the financials and the practice management system.
What services do you offer law firms?
Monthly bookkeeping, trust accounting, and financial reporting along with invoicing, bill pay, and payroll processing. Advisory support around cash flow forecasting, partner compensation, and key performance metrics so you can make informed decisions.
How will better accounting help my firm?
Up-to-date numbers show where profit is coming from, which matters are dragging, and where cash collections are lagging. Clear reports give you the confidence to hire, invest in marketing, or adjust pricing with less guesswork.
Can you help with billing and collections?
Yes. We can work with you to get clients billed timely and improve cash flow. Many law firms ask for help aligning billing workflows with their accounting, including retainers, payment plans, and online payments.
What if our books or trust accounts are behind?
Cleanup and catch-up work is common, including fixing trust activity, recreating missing data, and bringing reconciliations up to date. Once things are current, ongoing monthly support keeps you from falling behind again.
Do you work with firms outside our area?
Yes. Law firm accounting is well-suited to virtual delivery using secure, cloud-based tools. Regular check-ins and shared dashboards keep you connected without the need for in person meetings.
How do your fees work?
Most law firms prefer a flat monthly package based on size and scope, so your costs are predictable. Separate project pricing is available for one-time cleanup, system implementations, or specialized advisory work.