TLF Tailored
Where we are your accounts department
TLF Tailored is designed to give you an accounts and back office service which is built around you! At The Law Factory, we appreciate that every law firm is different so we ensure that we understand exactly how you operate and tailor our service accordingly.
TLF Tailored promotes an initiative of saving you time so that you can concentrate on fee earning work and running your business. The Law Factory endeavours to handle everything that an in-house accounts department would handle whilst not being in your office utilising your resources.
Just some of the areas where TLF Tailored can help you are shown below:
- Posting and reconciliation of all financial transactions across all accounts.
- Setting up client and office bank account payments for authorisation, including salary and PAYE payments.
- Scheduling overheads to suppliers and setting up office account bank payments for authorisation.
- Checking Land Registry, HMCTS and other online accounts, entering immediately to the appropriate ledgers.
- Rendering of sales invoices through the accounts software for issuing to clients.
- Checking completion statements and estate accounts for accuracy.
- Quarterly VAT calculations and submissions to HMRC. Setting up of quarterly VAT payment for authorisation.
- Providing a bespoke suite of monthly reports including COFA client reconciliation reports and management accounts.
- Providing year-end reports to auditors for accounts and SRA Accounts Rules audits and liaising directly with them, answering any questions they may have.
- Liaising directly with outside bodies such as HMRC/SRA/CQS/LAA.
- Providing budgets and cashflow reports to aid in management’s assessment of the business.
- Debt chasing through fee-earners and if necessary, to the clients directly.