MONTHLY FLAT FEE WITH NO SURPRISES
MONTHLY HOURS SAVED ON DATA ENTRY
LESS STRESS DURING TAX TIME
FINANCIAL HEADACHES
Your law firm’s financials shouldn’t be unpredictable. Move away from rough profit guesses to our accurate, data-driven strategies that amplify your law firm’s profitability.
If your law firm has tight cash flow months to fluid cash months then you need our bookkeeping services to keep your cash flowing.
Our expertise means your books always meet IOLTA standards, no matter what state your law firm is in.
Streamline expenses without sacrificing the quality of your law firm’s operations.
With our bookkeeping services, getting your law firm books before tax time is the norm, not the exception.
Save the tissues because we’ll send you reminders and even find you a new accountant if you need.
Expect updates and insights, not just reports. We’re on call to keep your firm’s financial conversation going strong.
We’ll connect with your case manager, time keeping software, and invoicing tool. Everything you use – we’ll adapt to.
You’ll get financial reports for your law firm and scheduled calls with us, every month, at the same time, without exception.
✓ Our services include a detailed monthly review of your law firm’s profits.
✓ We are efficient at our core and understand what comes first: your clients.
✓ Technology is our middle name, and we can fit with whatever you use (Clio, MyCase, LawPay, etc)
✓ We take the time to explain what your monthly profit and loss and accounts receivable actually means.
✓ We’re driven by increasing your law firm’s performance and you’ll hit goals you didn’t think were possible.
× Financials with little to no insight on your law firm’s cash flow or profitability.
× Time consuming processes that take you away from client-work
× Outdated bookkeeping tools that can’t keep up with your modern law firm.
× Generic reports that don’t’ align with your firm’s growth goals.
× Reactive instead of proactive strategies that don’t scratch the surface of your law firm’s potential.
There are 3 key ways we do this: 1) Monthly review that identify where the money is going and asking you: does this money need to be spent here? If you spend $1, are you making at least $1 back? 2) Creating your unique KPIs that track the finances in your law firm: like all invoices should be paid in 30 days, and no invoices should be unpaid for more than 60 days, and that each attorney needs to bill 30 hours each week, and each paralegal needs to file 10 petitions each month. 3) A financial KPI dashboard that shows all of this information visually, so you can see on a graph where your money is coming from, and where it’s going. Below is a sample law firm finacial dashboard.
In the years that we’ve looked at law firm finances for 7-figure law firms, there’s one big red flag that we see: as law firms grow, their profitability takes a hit. This means they’re hiring more people or spending money on marketing – and when they do this, their profitability comes down. We pay close attention to benchmarks and what healthy 7-figure law firms should be spending on things like marketing and payroll. Not only that, but we’re able to advise 7-figure law firms on what their sweetspot is: this is a combination of the number cases + number of employees + fee (if charging flat fee or hourly) that results in maximum profitability. We can do this because we have an understanding of law firm finances, especially at the 7 and 8 figure level.
Absolutely. Whatever you are currently using to bill or track time or collect invoices, we have the ability to use that information and not only do the bookkeeping but also help you understand what the data from your invoice software means + the data from your time keeping software + any other software you are using. We’ll ake that data and plug it into our financial dashboard so that you can grow your law firm while making data-backed decisions. For example: one of your attorneys might say “Hey, I need 3 new paralegals” and you might see that attorney as a rainmaker and want to give him/her 3 paralegals. But, what if you had data that could show you: the problem won’t be solved with 3 paralegals, but rather you need a junior attorney and 1 paralegal? Think about the positive impact that would have on your law firm. One attorney + 1 paralegal = a higher billable hourly rate than 3 paralegals, and it solves your attorneys problem who needs more support. This is how we focus on profitability.
Yes, we prioritize compliance and are up-to-date with all legal financial regulations, including IOLTA guidelines and trust accounting principles. We are 100% confident that we can comply with your state’s specific IOLTA guidelines.
You’ll have a dedicated bookkeeper available for monthly calls to review your financials together, and for any urgent queries or advice. You can communicate with them as often as you want. But at the bare minimum, you will hear from your bookkeeper each month with a review of your numbers, a review of the KPIs for that month, and a review of your financial dashboard. We know you are busy, which is why we can accommodate your schedule by either scheduling live Zoom calls, or sending videos with a review of how your law firm did that month with income and expenses. We are always here as a resource for you, and helping you make data-backed decisions to grow your law firm.
We specialize in bookkeeping and do not provide tax-preparation or tax planning services. Tax preparation and tax planning is done by an accountant or someone with a CPA designation, typically. We are happy to work with your CPA or accountant. If you don’t have one, we can recommend CPAs who work closely with our clients that our clients have been very happy with.
Nermin is the founder and owner of The Law Firm Bookkeeper. She is also the CFO who provides the actionable advice to clients, builds the KPIs for each law firm owner, and reviews the books in detail to understand the financial health of the law firm. We have a full team of bookkeepers who prefer to keep a low profile—think of them as the financial world’s version of secret agents, working incognito for your law firm. Their identities? Safely hidden behind calculators and spreadsheets. 🔢 Once you hire us, you’ll be assigned to your bookkeeper who will meet with you face-to-face over Zoom (so their identity won’t be a secret forever.)
(Shocking, we know. But that’s how confident we are).
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