Law Firm Accounting
Offering specialized accounting and financial services tailored for law firms, ensuring compliance and efficiency.
By providing data-driven insights and customized solutions, we help firms make informed decisions and streamline operations, leading to sustainable growth and a competitive edge. We focus on these key areas to empower law firms to achieve a sustainable competitive advantage and thrive in the dynamic legal landscape:
Frequently Asked Questions
Law firms are subject to strict compliance rules, especially regarding client trust (IOLTA) accounts. Unlike general businesses, attorneys must track funds by client/matter and maintain detailed ledgers, reconciliations, and regulatory reports to meet ABA and state bar requirements.
IOLTA stands for Interest on Lawyers’ Trust Accounts. These accounts hold client funds separately from the firm’s operating funds. Mismanagement can lead to serious legal consequences. We ensure your IOLTA transactions are accurately tracked, reconciled, and reported in compliance with ABA and RPC guidelines.
Yes. We specialize in three-way reconciliations—comparing the trust ledger, client ledgers, and bank statements—to ensure all trust accounts are balanced, documented, and compliant.
Absolutely. We offer historical clean-up and catch-up services, including forensic-level reviews to correct past errors, missing entries, or noncompliance in trust accounting or general bookkeeping.
Yes. We’re experienced with leading legal practice management platforms. We integrate data from these systems and ensure your financial records reflect accurate matter-level transactions and billing.
You’ll receive a full financial package including your Income Statement (P&L), Balance Sheet, Cash Flow Statement, Trust Ledger, and customized reports such as WIP (Work In Progress), compensation summaries, and client/matter-level activity—depending on your needs.
Yes. We assist with invoicing workflows, reconciliation of billables, payment tracking, and even provide guidance or setup for trust-to-operating account transfers following ethical billing practices.
While we don’t file tax returns, we provide detailed year-end financial reports and support your tax preparer with clean, categorized data—making tax season smoother and more efficient.
We follow strict data protection protocols and use secure, encrypted systems for all communications and document storage. Your client and financial data are handled with the highest level of professionalism and discretion.
No. While we serve many firms in Saratoga Springs, Utah County, and surrounding areas, we also work with law firms across multiple states (California, Florida, Texas, Arizona, etc.) virtually. Our systems are cloud-based, allowing seamless support regardless of location.
Have Questions?
We’ve Got Answers.
Whether you’re launching a new law practice or managing a growing firm, accounting and compliance can be overwhelming. This FAQ is designed to answer the most common questions we receive from attorneys and legal professionals—covering everything from IOLTA rules to monthly reporting. If you don’t see your question below, feel free to contact us directly—we’re here to help.
