Specialized Law Firm Bookkeeping to Grow your Business
Some of Our Clients
Simplify Trust Accounting with Expert Law Firm Bookkeeping
Transform your trust accounting and save valuable time with our specialized IOTA account management solution for law firms. Our law firm bookkeeping solution ensures each transaction is not just recorded but scrutinized for adherence to the ethical standards set by your specific bar association. We safeguard your reputation by mitigating risks and enhancing client trust. Imagine no longer worrying about the intricacies of trust accounting. We handle it all, letting you focus on what you do best—practicing law.
Optimized Client Billing and Collections
Revolutionize how your law firm approaches billing and collections. Our law firm bookkeeping solution is designed for maximum efficiency, tracking billable hours with unparalleled precision and expediting the invoicing and payment collection process. This significantly reduces turnaround time on receivables leading to a substantial boost in cash flow. With our expertise, you'll witness a remarkable increase in productivity, allowing your team to devote more time to legal work and less to administrative tasks.
Insightful Financial Reporting for Law Firms
Enable better, more informed decision making by extracting actionable insights from your financial data. Our bespoke law firm bookkeeping and management reporting solution helps you embrace a world where financial reports are not just numbers, but roadmaps to your firm’s success. Going beyond basic financial statements, we provide an in-depth analysis of your firm’s financial health, trends, and performance metrics, serving as your trusted advisor. Our expertise extends to forecasting cash shortfalls and reporting profitability by attorney, case, and practice area, ensuring you navigate your firm's future with confidence.
Streamline your Legal Workflow and Processes
Leveraging cutting-edge law firm bookkeeping and case management software such as Clio and LeanLaw, we boost your firm’s efficiency by reducing administrative tasks and ensuring compliance. We tackle the hassle of software selection, setup, migration, process documentation, and provide ongoing support. Our law firm bookkeeping solution is designed to lift the burden of these mundane tasks off your shoulders, enabling you to focus on what you do best: winning cases and driving your firm's growth into 7 or 8 figures and beyond.
File a motion for financial growth and success
You didn't pursue law to juggle roles as a kickass attorney and legal bookkeeper. Our law firm bookkeeping solution provides the foundation to bridge the gap between your numbers and strategy by integrating technology to ensure accurate numbers, trust compliance, streamlined workflows, and real-time financial insights, empowering your firm to thrive in today's dynamic legal landscape.
- Trust account clean up
- IOTA Client trust accounting
- 3 Way Account Reconciliation
- Tracking billable time
- Revenue recognition
- Attorney compensation reports
- Accounts receivable management
- Monthly management reporting
- Financial health check and review calls
- Budget preparation and cash flow forecasting
- Accounts payable, expense management & client bill-back
- Overhead allocation and profitability by attorney, case, service or practice area.
- Client billing by hour, fixed fee, contingency, or LEDES
- Clio & LeanLaw set-up, implementation and training
Hear from our satisfied clients
Transitioning from Sage 50 to a cloud accounting system was made seamless by CFO Lifeline. They tackled our backlog of bookkeeping, prepared all the necessary documents for a smooth audit, and now serve as our remote CFO. Their timely monthly financial statements and profitability reports enable us to make data-driven decisions.
Patrice Wallace
Coloured Fin
Working with CFO Lifeline was a huge turning point for our business. Prior to their involvement, we were using a manual desktop-based bookkeeping system, which was a headache to manage. But CFO Lifeline made the shift to a digital, cloud-based system really smooth and easy for us. Now, our financial records are always up-to-date and easy to understand. We can see our financial situation clearly at any time, which helps us make quick, smart decisions for our business. It's been a relief and a big help to have their team handle the complicated stuff, so we can focus more on growing our business.
Dave Jacob
Green Engineering
As a startup law firm, CFO Lifeline was instrumental in setting up our accounting software and maintaining accurate records for tax and decision-making purposes. Their guidance in cash flow management and service pricing was invaluable. We're grateful for their clear, non-technical communication, helping us understand our operational break-even point and price our services effectively.
Dale Montrose
Victorem Law Chambers
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