Legal accounting consultancy services
The second of our services, legal accounting consultancy, draws upon the unrivalled expertise of our ILFM-qualified cashiers, chartered accountants, data specialists, QuickBooks-certified and Xero-accredited advisors. There’s nothing our awesome team doesn’t know about cashiering in a legal setting.
Our legal accounting consultancy covers a fairly broad remit too, encompassing everything from financial profitability analysis and legal cashier mentoring to accounts rescue and best-practice accounting. We’re here to show that compliance with legal accounts rules is easier than you might think.
Types of services
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Financial health check
Our financial health check service involves working capital analysis including billing procedures review, balance sheet reconciliation, SRA Accounts Rules inspection, bank reconciliation checks in both your office and client accounts, client account scrutiny of residual balances, miscellaneous funds check and overdrawn balances, income and expenditure study, documentation and record-keeping investigation.
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Accounts rescue
From time to time, there may be a need for additional resources and expertise within your law firm’s accounting and billing departments for problem resolution. This might be a complex reconciliation issue, project rescue, temporary cover, pre-migration exercise or post-migration support. Our qualified legal finance professionals are available to provide expert assistance just when you need it the most.
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Legal accounting best practice and cashier mentoring
Law firms are governed by complicated legal accounting rules. Compliance is mandatory and non-compliance can lead to serious repercussions including investigation, penalties and, even, closure. We work with your cashiering and leadership teams to ensure sound bookkeeping processes, optimum use of legal accounts technology, assured regulatory compliance, accurate financial reporting and easy interactions with accountants.
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Data entry and migration
Our well tried-and-tested processes for data entry into new legal accounts software and migration of data from incumbent systems have resulted in countless successful implementation and transition projects within more than a thousand law firms, ranging from solo practitioners to 150-people businesses. As such, we’re ideally placed to protect your valuable data assets while simultaneously tidying up your database so that it works harder for you – following data protection law, adhering to budgets and achieving deadlines throughout.
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Learn more about our legal accounting consultancy services.
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