Clean Up Your Law Firm’s Accounting
Messy Bookkeeping Is A Common Occurrence We See In Law Firms. Usually The Firm Owner Has Attempted To Do The Bookkeeping Themselves Or They’ve Hired An Unqualified Bookkeeper.
No matter how it happened, it’s good to realize the current state of your legal accounting and get it on track.
Messy books are a huge frustration. You can’t make informed business decisions, you’re running a firm blind, and you’re always caught off-guard come tax time. Just because you know how much is in your bank account, doesn’t mean you know if you’re making money or not!
It’s Costing You Money, Time, And Anxiety!
Aligned CPA serves many legal accounting clients in the. For our law firm clients, we setup a web-based system so the client and our office have access, categorize income and expenses into correct accounts, reconcile bank accounts, including IOLTA trust accounting accounts, and many other functions. Using our firm allows you to have peace of mind that your bookkeeping is getting done, correctly and timely, and at a fraction of the cost of an in-house bookkeeper.
If you’re unsure if your bookkeeping is a mess or not, look at these items:
- It’s been over 3 months since your bank accounts have been reconciled
- You can’t run an accurate Profit & Loss statement
- Your Accounts Receivable aging report does not accurately show what your customers owe you
- Your Balance Sheet doesn’t show the correct balance of your bank loans
- You don’t know what your break even point is
- You have no idea how much you had in Revenue this year compared to this point last year
- You don’t know how much you owe your vendors
- You haven’t issued 1099s to vendors (did you know there’s a $530 IRS penalty for not complying with this!)
After going through these items you should have a good idea if your bookkeeping is a mess or not.
I Know Bookkeeping Isn’t Exciting To You, But It Is Important.
It can help you make better decisions and be prepared. You can monitor where your money is going and make changes that add up.
We can help. We can meet with you, gather documents, setup a system, and get your records cleaned up. We’ll guide you along the process and make it as easy as possible. Contact our office today for a consultation.
I help solo and small law firms GROW by providing accounting and growth planning services that will take their business to the next level.
I promise you, working with a CPA can be much more exciting than crunching numbers and reviewing last year’s taxes. I look at the day-to-day of your business and help you find ways to perform better, grow bigger and generate revenue with greater ease.