Law Firm Accounting Services
Thriving law firms necessitate efficient finance, accounting, and billing; however, these crucial tasks demand a good deal of labor-intensive, systematized workflow. As your law firm expands, you will probably find it challenging to manage the everyday accounting without some kind of assistance. Employing an in-house bookkeeper or perhaps a law office accounting expert would need substantial investment and assets, but luckily there’s a far better solution: outsource to Cogneesol.
The law office accounting professionals at Cogneesol fulfill the accounting, tax preparation, and business requirements of the world’s several successful attorneys and their exclusive law firms. Cogneesol has significant experience in delivering a multitude of accounting services to law firms and attorneys of all kinds.
Our Accounting Services for Law Firms
- Accounting Setup
- Income Statements Preparations
- Balance Sheet Preparation
- Cash Flow Budgeting
- Financial Statements & Reporting
- Preparing Closing Entries
- Monthly, Quarterly, Yearly Review
- Financial Analysis
- Management Reporting
- Cost Variance Analysis
- Payroll Processing Services
- Accounts Payable Services
- Accounts Receivable Services
- Bank Account & General Ledger Reconciliation
- Credit Card Reconciliation
- Cleaning up Books
- Revenue Reconciliation with Bank Deposits
- Tax Preparation Services
We Support Multiple Accounting Software
With expertise in every accounting software and platform, our team of highly skilled professionals offer fast learning curves and swift implementation of solutions.
Our Legal Accounting Process
Our Key Differentiators
Using our technology, accounting solutions & hardware leads to cost savings, reducing your team's time spent on buying, implementation & upkeep.
No Hiring Hassles
Outsourcing legal accounting services to Cogneesol will wipe out problems with staff turnover, management’s effort, and time used on employing, training & handling employees.
As your business expands or shrinks, we being your law firm accounting company, can modify the staffing requirements and handle resource management accordingly.
Outsourcing to Cogneesol brings financial benefits to legal firms, such as reduced expenses on wages, perks, office space, technology expenses, operating costs & other intangible profits.
We at Cogneesol can provide accounting services for lawyers by making use of all types of major legal accounting software trending in the industry today.
Focus on Your Core Business
It is imperative for the growth of your law firm to outsource some of the accounting functions to concentrate your energy and time on your core business operations.
Who We Serve
Trusts & Estates
Banking / Finance
Our Promise in Legal Accounting Services
We are aware that law firms and attorneys have unique accounting prerequisites, and coping with an in-house accounting regime can sap the valuable time and efforts of a worthwhile firm leadership without presenting actual visibility into practice proficiency and billing trends.
Regardless of whether your area of practice is in litigation, business, annulment, personal injury, or criminal, we are going to look after your legal accounting, bookkeeping, handle your cash flow, manage tax preparations, process payroll, and provide structured financial records.
Obtain access to our talented experts with several years of expertise in carrying out legal accounting functions that are usually too costly to hire staff for. By outsourcing law firm accounting to Cogneesol, you can enhance your organization’s internal system & augment transparency.
We help our clients navigate from where they are to where they aspire to be through our always-on learning agenda in the form of client stories and blogs covering the latest industry trends.
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It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.
We had made huge investments on an accounting software tailored for law firms but failed to utilize it to its optimal level. Team Cogneesol came in with both accounting and technical expertise and have since been maintaining our accounts as per statutory timelines and generating insightful reports at the end of every month. We have improved our Debtor Days ratio significantly.
Cogneesol has completely streamlined our client onboarding and setup process. With client accounts being updated on a real time basis now, our income, therefore, follows a structured flow. This has given the firm’s partners good freedom to take important decisions of expansion and vertical integration. We greatly rely on their work.
We had issues with client profitability and partner compensation until Cogneesol allotted us their accounting experts to draw up the books of accounts as per accounting principles. Since then, we have complete visibility into our clients’ payout ratio. Accordingly, our managing partners and principal attorneys have a better visibility into the firm’s income capabilities.