When to Outsource Your Accounting

Outsourcing Your Law Firm Accounting

As An Attorney Your Time Is Valuable. You’re Constantly Pulled In Multiple Directions And So Many Things Need Your Attention.

Guess what gets pushed to the back? Accounting.

I see this a lot in law firms. The owner thinks “I’ll get to that later”, but there always seems to be something more important.  Some immediate fire to put out. After a while it becomes a bigger project than you have time for so you continue to ignore it until it’s tax time or your banker needs a financial statement.

On the other hand, there are many law firms that have in-house bookkeepers.  This can be a great option if you understand the accounting function. You need to understand the information that is presented and be able to interpret the numbers.  Otherwise, you could be paying a bookkeeper who is doing a sloppy job. Unfortunately, that’s a common occurrence.

So whether you’re putting off doing your legal accounting, or if you have an in-house bookkeeper, it’s important to remember that you need to be able to measure your goals.  How do you do that without having financials to back it up? The answer… you don’t.

Another factor to keep in mind is your time.  As a law firm owner, you need to focus on the best use of your time. That is not accounting!  You should focus on leading your team, prospecting, closing client matters, and coming up with new ideas.  Those are the activities that are going to take your law firm to the next level.

When Should You Outsource Your Accounting To A Cpa Firm?

• You want peace of mind that it’s done correctly

• You don’t have qualified staff to handle it in-house

• You can’t afford a full-time employee

• You need to understand what your financials really mean

• You’re always caught off guard when tax time rolls around

• You want to ensure your IOLTA Trust Accounting is accurate

Outsourcing is a great option if you find yourself agreeing with the above statements.  You can have a high-quality result at the fraction of the cost of doing it yourself (Time is money!).

When using our firm for outsourced accounting, you get:

• Financial information at your fingertips with a web-based system

• Peace of mind that you have an expert supporting you and your goals

• Accurate IOLTA trust accounting reports

• Reduced overhead and cost savings

• Improved accounting processes

There really isn’t a bad time to think about outsourcing your legal accounting department. It’s a great option for start-ups, small, and solo law firms .

To learn more about how Aligned CPA can help your law firm, contact us for a complimentary consultation.  We’ll look at your current accounting processes and show you how we can streamline the process, save you money, and give you a better result.