What is law firm bookkeeping?

Law firm bookkeeping is the systematic recording, organizing, and managing of financial transactions and records specific to the business operations of a law firm. It involves the accurate tracking of income and expenses, the management of client trust accounts, the reconciliation of bank accounts, and the preparation of financial statements. Effective bookkeeping ensures that a law firm’s financial information is organized, up-to-date, and in compliance with legal and regulatory requirements.

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