Law firm finance
Fractional CFO and Bookkeeping Services for Law Firms
Most bookkeepers can't handle a law firm's books. We can, including the IOLTA trust accounting that ends careers when it goes wrong.
Law firm finance is its own discipline. We handle three-way reconciliation, partner compensation, realization analysis, and practice-area profitability for firms that need specialized support.
Why specialized support matters
Law firms have financial complexity that looks generic but isn't.
On the surface, a law firm looks like any professional services business: you bill hours, you collect, you pay people. Dig in and it's different at every layer.
Trust accounting is the obvious one. Mishandled trust funds end careers. But there's also the compensation complexity (eat-what-you-kill, lockstep, hybrid, each with different cash flow implications), the revenue recognition issues with contingency work, the realization gap between hours worked and hours actually paid, and the origination credit questions that quietly drive firm culture.
A generalist bookkeeper or fractional CFO without law firm experience will miss things. And in a law firm, missing things has consequences, sometimes to the business, sometimes to your license.
What we solve
The financial realities specific to running a law firm
- IOLTA trust accounting compliance and three-way reconciliation
- Partner compensation models and capital accounts
- Billable hours, realization rates, and collection percentages
- Contingency case cash flow planning and revenue recognition
- Practice area profitability analysis
- Practice management software integration: Clio, MyCase, PracticePanther, LeanLaw
- Bar association compliance reporting and documentation retention
- Origination credit and revenue allocation between partners
Specialty page
Need help with IOLTA trust accounting?
Three-way reconciliation, client subsidiary ledgers, and state bar–ready documentation. We handle trust accounting every month for law firm clients. Most bookkeepers can’t.
See our IOLTA specialty pageHow we help law firms
Compliance-grade bookkeeping and strategic CFO work, together
On the bookkeeping side: clean IOLTA reconciliation every month with the documentation your state bar expects, integration with your practice management software so trust activity flows through correctly, and a chart of accounts structured for a law firm, not a retrofit of a general-business template.
On the CFO side: partner comp modeling, practice-area P&Ls so you can see which work is actually profitable, realization and collection analysis, contingency case cash flow planning, and the forward-looking financial picture partners need to make decisions about hiring, expansion, and distribution.
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Frequently asked questions
Common questions, honestly answered
Let's talk about your firm
Ready for a bookkeeper who can actually do trust accounting?
A free 30-minute strategy call. We'll talk about your current setup (trust accounting, partner comp, whatever's on fire) and give you a real read on whether we're the right fit.