Lawyer’s profession does understand the need for a different kind of bookkeeping for legal businesses as they are to be compiled with various governing bodies. We accurately manage our clients’ receivables, payables, payroll, profit and more to help them grow steadily. We can help you with the smooth integration of your online website with accounting software. We understand the intricacies of Legal business and have to understand trust accounting for your legal business. Accounting for Lawyers needs a detailed understanding of bookkeeping requirements for lawyers in compliance with various governing bodies. We at Meru Accounting work integrating your accounting system with your legal software. Some of the legal software available are leaping Legal software (Cloud-based, Trust accounting, Provides good formats for conveyance, Will and Estate Accounting) Clio Software (Integrates with Xero , Invoicing the clients, Cloud-based platform, Case Management) Case Fox (Web-based software, Timekeeping via SMS, Integration with Google, Trust accounting, Calendering).

Below are core aspects to be looked into for accounting of Law firm

  • Trust accounting (Accounting for money received with trust)
  • Receivables accounting (Tracking of receivables and ensuring that receivables are timely which can help in efficient cash flow)
  • Profit share amongst partners and based on who has generated the lead from client
  • Payables accounting mainly comprising accounting for accounting for expenses and they are paid in a timely manner
  • Ensuring the compliance with laws for lawyers relating to record keeping
  • Branch accounting (For branches of Law firm)
  • Staff cost is a major portion for Payroll management (Compliance with Payroll laws for lawyers)