Top Notch Law Firm Bookkeeping Services
Your trusted advisor for all your bookkeeping needs! Offering First Month of Bookkeeping for FREE!
or Call 1800 583 0148
You Handle Your Law Firms. We’ll Handle Your Books.
- We quickly and easily help you get your books up-to-date and ready for taxes, loans, or other transactions, for a clear picture of your business’s financial situation
- Our convenient, online bookkeeping services start as low as $95 a month and are provided by Certified QuickBooks ProAdvisors and Xero-Certified Advisors
- We include accounting software and automated and secure encrypted monthly bank statement downloads
- We have your needs covered with back bookkeeping, real-time bookkeeping, payroll, and full- or part-time bookkeepers, so you can get back to doing what you do best
- We'll reconcile one month of your books for free, so you’ll see exactly how we remove your bookkeeping stress and frustration
Best Accounting and Bookkeeping Software for Law Firms
We support you with QuickBooks and Xero accounting and small business bookkeeping software programs
QuickBooks: Developed by Intuit, QuickBooks is tailored for small and medium-sized businesses.
Xero: As a cloud-based platform, Xero is designed to meet the accounting needs of small and medium-sized businesses.
Bookkeeping for Law Firms: Elevate Your Law Firm Business with Us!
Attorneys and law firms encounter a wide range of difficulties every day in the quick-paced and highly specialized world of legal practice. The requirement for precise financial management frequently takes a back seat among the demanding duties of representing clients, handling cases, and negotiating the complexities of the legal system. A law firm cannot afford the penalties of ignoring this important factor, though.
Welcome to Remote Books Online, a perfect place for all your bookkeeping for law firms needs, we examine the crucial part that professional financial services play in the prosperity and long-term viability of law firms. The effective handling of funds, trust accounts, and compliance is crucial whether you're a sole practitioner, a boutique law practice, or a huge corporate legal department. Our particular knowledge is useful in this situation. From precise record-keeping to trust account management and strategic financial analysis, we are here to assist you in optimizing your firm's financial health, allowing you to dedicate more time and resources to your core legal pursuits. Join us as we embark on a journey to discover how expert financial management can enhance the stability, growth, and success of your law practice.
Law Firm Bookkeeping
Law firm bookkeeping is the specialized financial service tailored to the unique needs of legal practices. It encompasses the comprehensive recording, tracking, and management of financial transactions specific to law firms, ensuring adherence to regulatory requirements while optimizing financial efficiency.
In essence, law firm bookkeeping is the systematic and meticulous handling of financial data, including client billing, trust account management, expense tracking, and financial reporting. This critical function not only helps law firms maintain compliance but also enables them to make informed financial decisions, ultimately contributing to their success and sustainability in the legal industry.
Effective bookkeeping for law firms alleviate the administrative burden on lawyers, allowing them to focus on their core legal responsibilities while ensuring that the financial aspects of their practice are well-managed and in compliance with the stringent regulations governing the profession.
How Our Bookkeeping Services for Law Firms Works
When it comes to managing the financial intricacies of your law practice, having a partner who comprehends the unique demands of the legal profession is crucial. At Remote Books Online, we specialize in providing law firm bookkeeping and accounting services that cater specifically to lawyers and attorneys. Here's a detailed breakdown of our service process, includes:
Initial Consultation
Our journey together begins with an initial consultation where we gain insight into your precise financial requirements and objectives. Whether you're a solo practitioner, part of a law firm, or overseeing a legal department, we craft our services to align perfectly with your goals.
Customized Solutions
Our seasoned professionals will develop a customized bookkeeping for law firms plan tailored exclusively for your legal practice. This plan encompasses a broad spectrum, from meticulously managing accounting records to performing thorough bank reconciliations, ensuring comprehensive financial oversight.
Ongoing Support
Our dedication to your financial well-being extends well beyond the initial setup. We are here to provide continuous support, address any concerns you may have, and adapt our services to accommodate your evolving needs. We can help you identify and implement the best accounting software for small law firms to enhancing your efficiency and accuracy.
White Label Bookkeeping Services
For law firms and legal departments seeking a seamless financial solution that preserves your unique brand identity, our white-label accounting services offer the ideal solution. We operate discreetly behind the scenes, representing your brand to deliver a unified client experience.
Regular Compliance and Reporting
Our bookkeeping for law firms encompass stringent compliance checks to guarantee that your practice adheres rigorously to all legal and ethical financial regulations. Additionally, we provide regular, detailed financial reports, providing transparency and instilling confidence in your financial management.
Efficient Financial Data Management
Leveraging state-of-the-art accounting software, we streamline the management of your accounting records. This ensures that your financial data is always up-to-date and readily accessible, granting you real-time insights into your financial health.
Seize the Moment: Reclaim Valuable Time for Your Legal Practice with Our Financial Solutions
We invite you to grab the opportunity and take immediate steps to revolutionize your legal practice as we come to a close this examination of our customized financial solutions like bookkeeping for law firms. Every second is extremely valuable in the legal industry since, as they say, time waits for no one. Our specialized bookkeeping for law firms are not just about figures and balance sheets; they also give your firm the tools it needs to succeed, adapt, and prosper in the shifting legal environment. You can reclaim valuable time that would otherwise be spent on the complexities of financial management by working with us.
The time to act is now. Accept the chance to shift your attention to what is really important: promoting justice, developing strong client connections, and expanding your practice. Our promise is to be your dependable ally, handling the financial complexities with accuracy so you may focus all of your emphasis on your primary legal objectives, when we will handle your bookkeeping for law firms.
The legal industry is always changing, so being able to react quickly and efficiently is crucial. You obtain the benefit of time as well as the security of a sound financial foundation with the help of our bookkeeping for law firms. Your business may become more responsive, agile, and well-positioned for growth.
Frequently Asked Questions
What are the Benefits of Hiring a Bookkeeper for Law Firms?
Hiring a bookkeeper for law firms offers several advantages. A dedicated bookkeeper ensures accurate financial records, enabling better decision-making and compliance. It saves time and effort, allowing lawyers to focus on core legal activities. Additionally, it minimizes the risk of financial errors, aids in tax planning, and provides a clear financial picture for potential investors or partners.
What are the Advantages of Hiring Bookkeeping Services for Law Firms?
Bookkeeping services bring specialized expertise to law firms. They handle financial tasks efficiently, including billing, trust accounting, and expense tracking. With professional services, law firms gain insights into financial performance and ensure adherence to ethical billing practices. Furthermore, outsourced bookkeeping allows scalability and reduces overhead costs associated with maintaining an in-house accounting department.
What does a bookkeeper do in a law firm?
In a law firm, a bookkeeper plays a crucial role in managing financial transactions and records. They handle the firm's day-to-day accounting tasks, such as recording billable hours, invoicing clients, tracking expenses, and managing payroll for employees and lawyers. The bookkeeper ensures financial accuracy and compliance, enabling the lawyers and partners to focus on their legal work. Their meticulous attention to financial details helps maintain the firm's financial health and allows for strategic decision-making in the ever-competitive legal business landscape.
What kind of Bookkeeping is used by law firm?
Law firms typically use accrual-based bookkeeping to track their financial transactions. This method records income and expenses when they are incurred, regardless of when cash exchanges hands. Given the nature of legal services, which may involve extended cases and delayed payments, accrual accounting provides a more accurate picture of the firm's financial health. It allows them to monitor revenue recognition and manage liabilities effectively. Furthermore, this method aids in adhering to legal and regulatory requirements, ensuring transparency in financial reporting, and facilitating efficient tax planning for the business.
Why is bookkeeping important for law firms?
Bookkeeping is crucial for law firms as it ensures accurate financial records and transparency. The legal industry relies on billing clients for services rendered, tracking expenses, and managing payroll efficiently. Accurate bookkeeping facilitates budgeting, cash flow management, and tax compliance. Additionally, it helps assess profitability, make informed business decisions, and adhere to regulatory requirements. Maintaining organized financial records enhances credibility with clients and stakeholders, fostering long-term success for the law firm.
Bookkeeping For Lawyers
Delivering the "great accounting" verdict law firms need and want
Whether you have a small or large law firm, the ability to stay compliant is essential to both your success and survival as a law firm. Unfortunately, that’s not always easy because you’re the expert in the law, not accounting or bookkeeping.
Your retainer fees from clients (and how or when used) are problematic because you don’t “own” those funds until they have been earned. Also, you may handle personal injury settlements that belong to the client. At any given time, your firm will have multiple clients with multiple trust ledgers. It is extremely important that these trust funds are not commingled with one another and are not used to pay the law firm's expenses. It is mandatory that all trust accounts are reconciled monthly. In the event of an audit, this is the first thing the auditor will look for.
Additionally, these requirements don’t include the daily financial tasks of running a business, with invoicing, payroll, taxes, leasing, utilities, and much more that have to be handled. Your time is better used defending or supporting your clients, not worrying about your firm’s books and financial practices.
What type of financial help does your firm need?
Understanding your requirements is key to your success and compliance
Knowing your practice’s overhead costs plays a big role in what you’re billing clients. After all, your overhead must be covered by what you bring in. You don’t want to guess this figure. You’ll also need to know which are direct or indirect matter costs because indirect matter costs require a different accounting treatment than reimbursement for direct matter costs. The good news is that bookkeeping and accounting advice can help in both of these areas.
A remote bookkeeping service is ideal for lawyers who have a low volume of transactions. It is also perfect for lawyers who do their own bookkeeping but require professional help for only certain critical tasks such as bank reconciliation or GST/HST filing. Also, some lawyers prefer remote services because they do not have extra office space for a bookkeeper. Nor is there a need to make an appointment to have a bookkeeper come into your office. Plus, you only pay for the actual time working on your file, so it saves you from paying an employee’s salary. It is a quick and flexible way to get your books timely updated by a professional.
Remote Books Online
Attorney bookkeeping services offer everything you need
Remote Books Online offers you the luxury of focusing on your practice instead of your bookkeeping. Our flat, affordable monthly rates are available as low as $95 with a team of experienced Certified QuickBooks Pro Advisors and Xero-Certified Advisors to help you get your books on track.
Our accounting and bookkeeping services center on compliance with the Law Society's record-keeping requirements in By-Law 9 and include:
- Accounting and bookkeeping services for lawyers and attorneys
- CPA access for lawyers and law businesses
- QuickBooks for lawyers and law businesses, not general-purpose accounting software
- Trust and general account reconciliation
- Law Society reports
- GST/HST return filing
- Time billing and accounts receivable
- Disbursement and expense recording
- Payroll support
- General ledger entries
- PCLaw, Clio, and uLaw setup, support, and consultation
Outsourcing Bookkeeping Services for Law Firms
What Does it Do for You?
As an attorney, you are more efficient in making business decisions and concentrating on your clients when you have access to your P&L and financial statements such as accounts receivable (AR) and accounts payable (AP). Our certified QuickBooks Pro advisors will make sure you have this information in the palm of your hand when you need it and are kept up-to-date in real-time.
Bookkeeping is tedious work that takes you away from other critical responsibilities, but it provides financial information critical for your success. When you let us handle it, you can focus on what’s really important.
or Call 1800 583 0148
Bookkeeping Services Price List For Small Business
Select from three budget-friendly and adaptable options. We collaborate with you to tailor bookkeeping solutions to fit your unique business requirements and financial constraints. Rest assured, all our plans include a dedicated, certified bookkeeper.
Experience Seamless Bookkeeping with Remote Books Online Today
Try us out for free!
Remote Books Online handles all transactions, performs necessary journal entries, and reconciles one month of your books at no cost. We invite you to experience and assess our bookkeeping service and process firsthand, aiming to establish a long-term partnership.
Connect with an Accountant or Bookkeeper Call (800) 583-0148 to receive a quote and schedule a consultation with a Certified QuickBooks ProAdvisor for a comprehensive review of your books. Alternatively, click below to get started. We eagerly anticipate assisting you.
Check Bookkeeping off Your To-Do List
When you delegate bookkeeping tasks, you gain more time to focus on your business.
- No more late nights spent on data entry and tedious bookkeeping tasks.
- Eliminate the need for training employees in bookkeeping, saving time and resources.
- Enjoy up-to-date and accurate books at all times.
- Liberate your time to concentrate on growing your business.
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Discover What Our Clients Say About Our Online Bookkeeping Services
Empowering our clients with the financial support they need to thrive in their business is our sole focus.