There’s a lot that goes into running a successful law firm, and accounting is just another thing to worry about. Our legal accounting experts understand that. We’ll keep your law firm running smoothly and compliantly with our legal accounting services.
We’ll work with you to improve your cash flow and profitability through our legal-focussed accounting services. You can trust us to give you expert, tailored advice for your law firm. There are a lot of different components in law firms and our legal accountants understand that. Our accounting advice will help your law firm thrive.
Highly experienced in consulting with law firms, we can help set you up for success in the early stages of establishment. Or, we can help already-established law firms optimise and streamline their business and accounting practices for better outcomes. Looking at items like your pricing, your tax processes, and your general accounts, we’ll benchmark your law firm’s efficiency, processes, and procedures against your competitors. We’ll also give you the tailored advice you need to improve your business. Our business consulting for law firms will help you outperform your competitors.
Our legal accounting experts know the ins and outs of law firms and their financial structures. We’ll help you by providing you with cash flow forecasts ahead of time — so you can make more informed decisions and know where and when you have cash available to you. Our cash flow forecasts make budgeting and costing easier.
Lawyers or barristers who may have to hold their clients’ money in a trust account will need to have that said trust audited annually. The audit is basically where we’ll look at your trust and benchmark it against the current legislation. We’ll let you know whether you’ve met the legislation and have complied with the relevant requirements and regulations. We’ll look at whether your accounts and records relating to the trust have been properly maintained. Then, we’ll check if there have been any losses or deficits of the money in the trust, as well as any failure to pay the trust. We’ll also ensure there has been no failure to comply with those relevant regulations.
The provisions of the legislation are fairly complex, but in general, solicitors with trust accounts should ensure:
We know that legal accounting and tax responsibilities can be stressful and confusing. We can help. From tax audits and tax returns to tax compliance and advice — your law firm accountant will help you get it right. We’ll provide you with the expertise and support you need to thrive in business. We’re highly experienced in providing tax accounting to lawyers and law firms. Whether it’s helping you maximise an individual return, a company return, or a more complex tax issue.
We’re highly experienced in providing law firms with tax advice. From income tax and individual tax returns to FBT, GST, and BAS statements and through to ATO issues, planning, or other really complex tax issues — we’re the experts in legal accounting. We’ll provide you with general business tax advice and support you through more complex issues. Our tax advice will keep you compliant and on top of your tax responsibilities.