Law Firm Accounting and Bookkeeping

As a lawyer, you understand the value of every hour in your workday. For many attorneys who are working to grow their practice and run their business, bookkeeping, accounting, and financial reviews are an unwelcome distraction. At CPN Legal, we know that your time is valuable. Our law firm bookkeeping, and attorney accounting services are designed around efficiency, and we go above and beyond to keep your business profitable and successful. To connect with our team of experts, consider contacting us today.

About CPN Legal

Founded in 2011 by Peggy and Chris Gruenke, CPN Legal has grown from a family-owned small business into an award winning premier law firm consultancy firm. Our entrepreneurial spirit, commitment to excellence, and boots-on-the-ground engagement are the foundation upon which our reputation has been built. We pride ourselves on delivering solution-oriented results to lawyers and law firms across the country.

When you work with CPN Legal, you can feel confident that our team of CPAs, bookkeepers, controllers, and industry experts understand the challenges you face. We will begin our partnership with a thoughtful review of your books, then collaborate with you to identify opportunities and pain points to create more efficient and effective systems in your business. This approach is why so many law firms have trusted us to serve as their back office management.

Our Bookkeeping and Accounting Services

Every business needs an effective accounting and bookkeeping system to ensure financial clarity and success. Reviewing your books and finances is not a once-a-year event that occurs at tax time. Rather, continuous review is necessary to keep a pulse on your numbers to understand whether your business is healthy.

We offer a full suite of law firm bookkeeping and accounting services to provide our clients with a better understanding of their financial reports and the tools needed to increase their profitability.

• Monthly reconciliation, including 3-Way Trust Reconciliation. Internal management, regulatory bodies, lenders, and stakeholders all depend on accurate financial statements to make decisions about the business. The month-end reconciliation process ensures that your law firm’s financial position is reflected properly so you can close the books and prepare for next month. For clients who utilize our trust accounting services, we also perform 3-Way Trust reconciliation to ensure that all records are in order and that all balances match.
• Financial reporting. Not only is it difficult to know what financial reports your law firm needs, but it is even more arduous interpreting the data from these reports. Our team of experts will connect the dots for you, and provide you with a monthly financial package that has been through our Quality Review process so you can trust the reports you receive monthly. We will keep close tabs on your metrics and reports to increase your efficiency and make adjustments as needed.
• Invoicing services. Prioritizing timely and accurate billing information while mitigating errors and redundancies is essential to increasing your bottom line. We leverage our decades of experience in attorney accounting to assess your firm’s needs and develop a lasting solution to streamline the invoice process. From submission to approval and payment, we take the guesswork out of invoicing.
• Monthly A/R reporting. Your law firm’s accounts receivable (A/R) encompasses all outstanding client payments for work that has been invoiced. Improving the A/R process is a major priority for many attorneys, but relying on manual interventions from staff to remind clients of their owed balances is inefficient. With our monthly A/R reporting services, you can rest assured that our team will help you manage your receivables to improve your bottom line.
• Record client payments in Clio & QuickBooks Online. Navigating law firm bookkeeping and accounting software can be challenging. When Clio and QuickBooks Online are aligned, it is possible to automate payments and eliminate redundancies in your workflow. Our team will configure bill syncing to record client payments in Clio & QuickBooks Online, ensuring that transactions in Clio are recorded in QuickBooks Online, then matched at the bank level.
• Weekly review of QuickBooks Online. Legal accounting software should make your life easier, and QuickBooks Online is an ideal option for lawyers who wish to streamline their workflows and simplify their workloads. Closely managing your accounts is key to your success, and we will perform weekly reviews of QuickBooks Online to keep your books in order and provide insight that goes beyond the basics of billing and accounting.
• Weekly cash flow and projection reports. Your law firm’s cash flow statements and projection reports can help you identify exceptionally profitable parts of your business, spot redundancies and potential shortfalls in cash, and understand if (and when) it may be the right time to scale. By reviewing your weekly cash flow and generating projection reports, we can help you make sound decisions regarding your business and plan for the upcoming months.
• Payroll setup & processing. As a business owner, your biggest asset is your employees. And making sure they are paid on time and correctly can be a time-consuming task. With in-depth experience navigating nationwide payroll and HR regulations, our team of experts will provide the support you need to make sure this important task is completed on-time and accurately.
• Payment of vendor bills. Your law firm must maintain regular communication with vendors to handle payment discrepancies and address inquiries. Our experts can help you receive, approve, and assign vendor invoices and manage the payment of vendor bills quickly and efficiently while maintaining full transparency at every step.