Outsourced Legal Accounts
The Law Factory provides an Outsourced Accounts service for Solicitors and Law Firms which is both efficient and cost effective. It allows our clients to maintain their accounts to a high standard without the need for a daily presence in their office.
The service operates in the following way:
- Initial discussions are carried out with the partners to decide the best way to provide us with the accounts information.
- The information is then posted onto your accounts package by one of our highly trained accounts assistants.
- They deal with reconciliations of the bank accounts, VAT, and month end procedures as well as sorting out any queries with you as they arise.
- They will also deal with any historic issues you may have including residual balances on a solicitor’s client account ledger.
- Your accounts will be reviewed regularly to ensure your systems are running as efficiently as possible.
- The month end reports are securely stored digitally and emailed to the partners each month.
- We liaise closely with your accountants to ensure that audits run as smoothly as possible.
- As a legal accounts team, we are able to offer continuity of service during holiday and sickness periods.
In addition to the basic service outlined above, we are able to give you advice and assistance with the following matters:
- Choosing the right accounts software package. We are experienced in dealing with the majority of good legal accounts software packages
- Assisting you with migration from one software package to another, in some cases project managing this on your behalf.
- Choosing good reliable accountants with a strong legal team.
- Setting up budgets, cash-flows and management procedures tailor-made to your business to ensure your office runs as smoothly as possible.
- Organising payment of your suppliers, staff and tax authorities online to save you valuable fee earning time.
- Restructuring your business systems and pushing the firm forward
