Law Firms
Law Firm Accounting Services
Accounting Services for Law Firms
From trust management pitfalls to invoicing challenges, we at UltraPrecise Bookkeeping unveil the critical areas where law firms can stumble. Don't let these errors affect your practice — contact us today to see how we can help keep your law firm on the right financial footing.
Trust Management
Trust management is the most common and most dangerous area of business bookkeeping to make an error. IOLTA trust account rules are quite specific, and failing to adhere to them can result in significant penalties, ethics violations, or even worse….potential disbarment.
Stop losing sleep worrying about your IOLTA accounts. Allow our team of legal bookkeeping experts to manage your trust IOLTA accounts and give you the peace of mind you deserve.
Invoicing
There is a direct correlation between the time invoices are sent and client payment. The more time between the work being done and the invoices being sent, the less likely you are to collect the funds.
At UltraPrecise, we can take over Invoicing and develop a solid process to ensure that all WIP is converted to an A/R and all clients are invoiced monthly.
Accounts Receivable
Once you send out your invoices- you cannot just forget about them. Your accounts receivable are a representation of the money owed to your firm by your clients. This needs to be monitored regularly. Just like everything else in your firm, you need a solid structure and process for collections. UltraPrecise is here to do that for you!
Data Migration
It is imperative that you are using a legal practice management software to ensure that your firm is running smoothly. Legal software is designed for managing case files, document storage, scheduling, tracking billable hours, client invoicing and much more. Moving from an out-of-date platform (or no platform at all) can be nerve wracking! There is no room for error when migrating IOLTA data. Let our team of data migration specialists setup your new legal practice management software for you and set you up for success!
Bookkeeping
If you were having heart problems, who would you rather see? A specialist or a generalist? Of course, you’d rather see a specialist- a Cardiologist. The same principle applies here. Engage a legal bookkeeping expert to handle your bookkeeping. Make sure they are an EXPERT in systems and processes. A great legal bookkeeping professional can make all the difference in your business. UltraPrecise has a team of legal bookkeeping experts with years of experience in this field.
Take control of your law firm's financial health today! UltraPrecise Bookkeeping's legal experts are here to navigate trust management, invoicing, accounts receivable, data migration, and specialized bookkeeping. So, what are you waiting for? Don't risk your practice's success — Contact us to schedule a consultation and take our masterclass on law firm bookkeeping today!
What our customers are saying
"I was daunted by all of the financial information I needed to get squared away when I started my business and worried that I wouldn't find someone who was personable in addition to being professional, but Angela is just that. From the moment we met I could tell that she would be able to answer all of my questions, and in the almost two years that we've been working with her she's been able to help me out in every new situation that has arisen- which has been a lot during the pandemic. I would happily recommend her to any other business owner."
- Casey F., Golden Bee Bookshop
"There are bookkeepers who make entries and provide you with clean books. Just getting it right is a win. Then there is UltraPrecise, who far exceeds the level of bookkeeper. Angela customizes to our needs. She gives advice. She interacts with our tax accountant and helps strategize. Angela provides Board Room level CFO insights and recommendations. This is not only bookkeeping. This service is effectively a Finance Department and CFO. A lot of people can do the books. UltraPrecise gives far more. This replaces two or three FTE's at a fraction of the cost and with excellent and timely outputs."
-Chris W., Portfolio Properties Group
"Angela has taken the stress of the financial management of our organization off of our shoulders. She's very thoughtful and proactive-- we can trust that our finances are in good hands and can make decisions about hiring and spending from a position of confidence. She is detailed, thorough, super responsive, and quick to get back to us on time-sensitive issues."
- Jennifer D., Progressive Maryland, Inc.
Ready to get started?
Schedule a free consultation with us today