Accounting for Legal Firms

Accelerate Growth With Consultance’s Accounting for Legal Firms Growth Formula

Attorneys and accountants often work in tandem to solve clients’ problems using complementary skills. When it comes to managing the finances of a legal firm, the right accounting team remains an irreplaceable partner that can accelerate your firm growth and provide business insights to ensure future goals are met.

Real-time Accounting is the Foundation of a Successful Law Practice

Accurate, real-time accounting for legal firms and actionable expert advice are fundamental to building a strong financial foundation for your law firm. Consultance Accounting’s Legal Firm Growth Formula combines the six essential elements of successful law firm financial management into one proven service suite.

The Consultance Accounting Team works with firm management, partners, and owners to build and maintain a solid financial foundation in six critical ways:

  • Comprehensive Legal Accounting Services
  • Controllership and Outsourced CFO for Legal Firms
  • Business Process Efficiency for Law Offices
  • Legal Accounting System Optimization
  • Strategic Financial Management for Informed Decisions
  • Financial Insights to Support Law Firm Growth

Individually, each component of Consultance Accounting’s Legal Firm Growth Formula supports your law firm in remaining compliant with ethics regulations such as the ABA’s Model Rules of Professional Conduct, which stipulates key responsibilities for how trust funds must be managed, including proper recordkeeping, and client notifications in regard to the receipt of funds or property. Failure to comply with these regulations can lead to serious professional liabilities for your firm.

Consultance Accounting’s legal accounting service team has you covered to mitigate the risk of issues arising from your firm’s financial management. If you are currently not having your firm’s accounting handled by a professional legal accounting firm, you risk violations of compliance regulations which can lead to professional sanction and significant financial penalties.

Take action to protect your legal practice and achieve your next level of sound, successful growth.

Start Optimizing Your Law Firm Financial Foundation Today with These Services

IOLTA Trust Account Analysis

  • Design and update trust accounting policies and practices
  • Clean up and reconciliation of trust accounts
  • Creation of standard trust accounting reports
  • Compliance with state and legal Requirements

Starts at $2,500

Financial Dashboard with KPIs

  • Design and build custom financial dashboard tools
  • Connect source financial systems to customized financial dashboard tools
  • Create a maintenance plan to support dashboard revisions and request

Starts at $2,500

Financial Budgeting, Forecasting & Cash Flow Analysis

  • Create budget and cashflow Forecast
  • Analysis of revenue and cost drivers
  • Accounts receivable and cashflow analysis

Starts at $3,500

Employee ROI Analysis

Design a custom financial tool that is used for:

  • Planning staffing and hiring
  • Analyzing financial performance by staff member
  • Establishing employee bonus and incentive pay programs

Starts at $2,000

Accounting for Legal Firms Blog Posts

Keys to Fueling Legal Firm Growth

Keys to Fueling Legal Firm Growth

Learn how Consultance can fuel your legal firm growth. Consultance partnered with the law firm's leadership group to provide accounting support and systems, specialized knowledge, cutting edge technologies, and insightful financial analysis to ensure Berenzweig...

8 Strategies To Optimize Your Law Firm’s Cash Flow

8 Strategies To Optimize Your Law Firm’s Cash Flow

Do you find that you have a consistent client list, great marketing, and a solid staff, but your firm just doesn’t seem to grow? If this is the case, it may be time to work with Consultance Accounting’s legal firm accounting specialists to take control of your cash...

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