Legal Advice and Accounting Services

Managing a law firm involves more than just advising clients on legal matters. In order for a law firm to function properly, they must also manage the other aspects of their business. A law firm needs the right service provider who can offer consulting, bookkeeping and accounting for lawyers

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Bookkeeping


Most lawyers are too busy to be involved with the day to day bookkeeping of their business. Bookkeeping involves preparing and sending out invoices to clients and following up on any unpaid invoices. It involves keeping a record of where money is spent and where it comes from. Without these essential tasks, a law firm may not have a constant flow of income and may even miss out on fees that are owed to it. A bookkeeping system can help to manage this on a daily basis.


Accounting Services


A law firm, like any business, is responsible for preparing annual or quarterly accounts. These accounts allow the partners of the business to gauge the financial health of the business. Preparing these account statements can be very consuming as it involves reviewing bank account information and preparing precise calculations. This sort of work is best performed by a qualified accountant. Using accounting services can help with this job. In addition, a qualified tax accountant can help the business to prepare its annual tax returns and ensure that the firm is achieving as many tax deductions as possible to save money. An accountant can also audit the business if needed.


Consultant Services


Many law firms deal with cases that may be outside the knowledge base of the attorneys. In such situations, hiring a consultant may be necessary. For example, if an attorney is dealing with a case of medical negligence, they may need to consult with medical experts to obtain more information about the specific diagnosis or treatment that was given.


IT Services


Because we live in an increasingly technical world, it is necessary for any business to have the right information technology. This includes having such things as a good website, reliable computers and printers, properly working email and a social media presence. Hiring IT services can help to meet a firm's IT needs. An IT service provider can help with such tasks as installing necessary hardware and software, ensuring that the firm has adequate IT security for its sensitive data and trouble-shooting problems such as when the system malfunctions.