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Accounting + Money Movement

Our Services

Who is responsible for the movement of money and do they have other responsibilities?

Traditionally, a law firm’s controller is responsible for the firm’s transaction processing (such as client trust account management, accounts payable, accounts receivable, payroll) and formulating budgets & forecasts, in addition to oversight of the firm’s accounting.

More Information About Our Accounting + Money Movement Service

With our Accounting + Money Movement Service, you have a dedicated and qualified CPA (equivalent or superior to the qualifications of a controller), as well as a dedicated accountant or team of accountants providing support and enabling you to reach your goals. We work with you throughout the year with regular meetings and guidance focused on your operational systems and financial picture. Meetings are held in person or virtually depending on the nature of the meeting and your preferences.

While a firm’s investment to hire a full-time controller varies widely based on the size of the practice and responsibilities, we estimate that a firm, once reaching $2.5million of revenue, should budget roughly 4.0% – 5.0% of revenue for all of its accounting & money movement functions.

We recommend scheduling a discovery call to learn about your practice. You can find the included services and add-ons listed on our Services Comparison Page.

Opting for our Accounting + Money Movement Service allows you to focus on your firm’s core objectives while benefiting from the experience, internal controls, reliability, and feedback of a trusted partner who is built to grow with your firm.

When you engage our Accounting + Money Movement Service, you can expect a comprehensive package tailored to your needs. This includes bi-monthly meetings with your designated controller, fostering a unique partnership. Our aim is to help you pinpoint areas for operational enhancement and efficiency while offering valuable financial insights.

Your dedicated team of professionals will include a CPA and an accountant.

Here are the key deliverables you can expect:

Processing of Accounts Payable and Accounts Receivable, transactions between client trust accounts and firm operating accounts, and other payment processing transactions requested.

Development of budgets, including departmental budgeting as required.

Provision of financial reports (monthly, quarterly, year-to-date, and budget-to-actual comparisons).

Assessment of cash flow goals and analysis (if elected).

In-depth analysis and guidance on operational improvements and efficiencies.

If selected, tax planning and tax return preparation to ensure consistent year-round business planning.

Receiving our Accounting + Money Movement Service offers you a multifaceted approach to financial management and growth.

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Meeting #1:

An Operations Systems Review scheduled within the first two weeks of the month. This meeting provides you and your CPA with the opportunity to assess the broader landscape of operational systems and policies. It aims to identify any existing issues or bottlenecks and determine necessary modifications or changes.

Meeting #2:

A Financial Update Evaluation takes place within the final two weeks of the month. This meeting allows you and your CPA to delve into the financial aspects. Together, you’ll review the previous month’s financial data and year-to-date performance, including a comprehensive analysis of budget versus actuals and progress towards established goals.

Yes. Our firm is specifically designed to provide services and guidance that work with the intricacies and requirements of law firm recordkeeping, financial reporting, and planning.

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During our call, we can delve into your objectives, assess your current position, and discuss your desired result.

The typical duration for the onboarding process for Accounting + Money Movement Service is approximately six weeks.