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Law Firm Bookkeeping

Law Firm Bookkeeping Australia-wide

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LEAP, Actionstep and Smokeball Support

Comprehensive support through a large array of bookkeeping services and tools for all sized law firms

What is law firm bookkeeping?

Law firm bookkeeping, otherwise known as legal bookkeeping, is the recording of financial transactions specific to the law industry. In particular, law firm bookkeeping focusses on legal trust accounting, which is a crucial component to the legal industry. As legal professionals deal with a range of important and confidential financial matters, including trust accounts, employing a specific law firm bookkeeper ensures that all your legal financial transactions are correctly attended to and recorded.

Books Onsite can look after all or part of your Trust Account Bookkeeping, Office Account Bookkeeping and Annual External Examination all for a Weekly Fixed Fee Package.

Remote Fixed Fee

We get to know you and your business and then provide an ongoing weekly remote service

Account Management

Sydney, Melbourne, Brisbane and Perth backed by MYOB, Quickbooks or Xero Certified CPA support

Management Reports

Featuring Management and Reconciliation of your Accounts and to ensure compliance with all regulations.

What can a Books Onsite law firm bookkeeper offer?

A Books Onsite legal bookkeeper will initially come to your office to get to know you and your business, refine your systems and customise a procedural checklist that is unique to you and your needs.

Then, for a fixed weekly fee, we provide an ongoing weekly remote service to your law firm which includes the following:

  • Management and reconciliation of your trust accounts to ensure compliance with the relevant Law Society Regulations.
  • Management and reconciliation of your Office Accounts with Xero or MYOB.
  • Annual External Examination, as Books Onsite bookkeepers are Certified External Examiners in NSW, Victoria and QLD.
  • Payroll and Creditors payment and management. *Please note, you will need to provide access only to your internet banking (not authority on your account) to enable us to upload draft payments directly from your software ready for your approval.
  • BAS Agent Services including BAS and IAS reporting and lodgement.
  • Monthly Management Reports to assist you in analysing your firms and staff performance including both monthly and prior year.
  • Profit & Loss and Balance Sheet comparisons, WIP and Debtors Exposure Reports and Funds available for Trust to Office Transfer Reports.

Law Firm Bookkeeping Specialists

Books Onsite are also LEAP, Smokeball and Actionstep Certified Consultants, which means we are also able to provide installation, configuration and training to your business to assist with your employees. We also provide this at a discounted rate for any ongoing clients.

Please call us or simply fill out the form here to request a detailed copy of our Weekly Accounts Checklist or to arrange a quote for our Fixed Fee Service.

 

Why engage a Law Firm Bookkeeper?

There are a range of benefits in choosing to engage a legal bookkeeper, instead of completing the books yourself. This can include:

  • Assurance that all the relevant rules and regulations are met.
  • Ensures all the relevant forms are completed and lodged on time.
  • Frees up time for the relevant person to complete other tasks.
  • Allows any issues to be raised and solved promptly.
  • Offers peace of mind that you are dealing with an industry professional

Frequently Asked Questions

Not sure what you are looking for? Check Out our Legal FAQ right here or Contact Us today for more information.

What do law firm bookkeepers do?

What do law firm bookkeepers do?

Law firm bookkeepers can complete a huge range of tasks, such as:

  • Management and Reconciliation of your Trust Accounts to ensure compliance with Law Society Regulations.
  • Management and Reconciliation of Office Accounts with Xero or MYOB.
  • Annual External Examinations.
  • Payroll and Creditors payment and management.
  • BAS Agent Services - BAS and IAS reporting and lodgement
  • Monthly Management Reports to assist in analysing both firm and staff performance including: Monthly and Prior Year.
  • Profit & Loss and Balance Sheet comparisons, WIP and Debtors Exposure Reports and Funds available for Trust to Office Transfer Reports.

This list is in no ways exhaustive - find out more here.

What is the difference between a law firm bookkeeper and an accountant?

Law firm bookkeepers and accountants are actually two different aspects of a legal business - although they have a range of common goals and ideas, they are actually different parts of a business financial cycle. The tasks that a law firm bookkeeper generally comes first, such as organising day-to-day transactions, and then an accountants’ tasks follow this, however, there are some overlapping components.

In other words, law firm bookkeepers report financial data and accountants give insights and analysis of that data.

Do law firm bookkeepers deal with trust accounts?

Yes! Law firm bookkeepers are specialists in trust accounting for law firms, including making sure everything is up-to-date and in accordance with all the relevant rules and regulations. Give Booksonsite a call if you would like further information in this regard.

Why employ a law firm bookkeeper for your law firm?

There are a range of reasons as to why you should employ a law firm bookkeeper, not complete it yourself (or employ a regular bookkeeper even!) including:

  • Law firm bookkeepers remain up-to-date with all the relevant legislative provisions when it comes to trust accounting.
  • Employing an external person allows you to focus on other areas of your business.
  • Ensures all relevant dates, timeframes and rules are followed and complied with.
  • Ensures all relevant documents are completed and lodged on time.
  • Providing advice regarding the management of your legal trust accounts.

Our Bookkeeping locations

Brisbane Bookkeeping

In need of a reliable and trustworthy bookkeeper to assist with your books in Brisbane? Books Onsite can help! Our reliable and experienced team have been working with businesses across the region.
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Bookkeeping Sunshine Coast

Are you searching for a Sunshine Coast-based bookkeeper? If you are a business in need of a bookkeeper but you don't know where to turn? Call Books Onsite today!
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Bookkeeping Sydney

The Sydney Books Onsite team provide a full range of onsite bookkeeping services that are customised to your business, your finances and your exact needs.
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Bookkeeper Melbourne

Are you in need of a qualified and approachable Melbourne based bookkeeper who offers a full range of onsite bookkeeping services? Books Onsite can help.
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Regional Bookkeeping

Books Onsite do not just offer services in major cities and areas - we also offer regional and offsite bookkeeping services anywhere in Australia, backed by CPA Support.
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Bookkeeping Perth

mes to your business books in Perth? We understand and we can help! Books Onsite are your qualified and professional bookkeeping company that provide a full range of onsite bookkeeping solutions.
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Welcome to Books Onsite

To discuss your onsite bookkeeping needs, call us on 1300 2BOOKS or Contact Us Today!
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