Custom Bookkeeping Services For Law Firms and Solo Attorneys
Entrust your law firm finances to the experts at Lowden Financial. Our team of CPAs operates in high regulatory environments every day, and we have the experience to streamline your books. We can automate your financial reporting, provide monthly closures of books and reconciliations, tie your firm's billing and case management tools into a modern accounting software platform, and even provide strategic guidance if you are seeking an acquisition.
If we can help your law firm in any way, please send us a note. We will schedule a complimentary consultation, create a custom proposal, and help create the perfect solution to keep your firm profitable and compliant.
Get a World-Class Custom Bookkeeping System For Your Law Firm
Track Expenses and Manage Hourly Billing
You likely use time-tracking, billing, and case management software, among other tools. We can connect all of your financial systems with leading bookkeeping software to provide a streamlined, high-end solution for your firm. You will be able to see financial reports at the click of a button, and you'll be equipped to make challenging financial decisions more than ever before.
Meet Trust (IOLTA) Account Compliance Standards
Our CPAs have deep experience in strict regulatory environments, and we can create an automated system that will help you carry the fiduciary responsibility of managing trust and IOLTA accounts. If you are using a paper filing system for your trust ledger, wasting time learning about trust account reconciliations, or exposing yourself to regulatory fines, contact us right away. You can't afford to commingle funds or take a carefree approach in this category -- Lowden Financial can help you stay compliant and sleep better at night.
Lowden Financial Offers More Than Routine Bookkeeping For Lawyers
Transactions, categorization, accounts payable, and profit & loss statements are important, but we provide next-level support as well. Our CPAs also help law firms in an outsourced fractional CFO role, and we can help you look for key benchmarks and metrics that will help you become more profitable.
Managing Payroll and Distributions
You need to analyze individual associate performance, correctly calculate compensation for both managing and junior partners, and determine which clients and cases are the most profitable. We can help calculate partner distributions, track bonuses based on case wins or settlements, and handle other incentive-based earnings unique to the legal profession.
Identifying Profitable Business Departments
Our high-level analysis can help managing partners and law firm founders identify exactly which case types, departments, and attorneys are producing profitable results. We investigate the real numbers, and you won't need to use anecdotal data when making important decisions.
Such analysis can help you allocate your marketing dollars towards high-margin specialties, adjust your billing structures, or even hire additional associates to meet demand.
Law Firms Have Unique, Complicated Expenses
Law firms incur a variety of expenses that are unique to the legal industry. Expert witness fees, for instance, represent a significant cost for firms specializing in personal injury or criminal defense. Research fees and the cost of accessing legal databases are additional expenses that require careful tracking to ensure they're accurately billed to clients or accounted for as operational costs.
For divorce attorneys, expenses might include costs associated with obtaining official documents, court filing fees, and mediation costs. Each legal specialty brings its own challenges, from the forensic accounting services crucial for financial litigation to the specialized investigation fees for criminal defense cases. We can help you categorize and organize your costs, and this transparency will help you grow your business.
Contact Our Expert Legal Bookkeepers Today
All you need to do is fill out our form to get started. We would love to help you streamline your firm's financial system and arm you with the data you need to make informed decisions.
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