Outsourced Accounting Services for Law Firms

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Outsourced Accounting & Legal Bookkeeping Services for Law Firms

When you’re looking to hire accounting services for a law firm, you need a partner who can get on your level fast. Once engaged, our world-class team can get to know your business and your books as quickly as possible and with attention to detail, ensuring a seamless and highly effective transition from your previous accounting situation.

Our accounting division is led by a seasoned CPA, recruited by the FBI, with extensive experience at a Big Four firm and in the Fortune 500. Having successfully managed over 100 small businesses across a wide range of services—from bookkeeping and payroll to taxes and financial reporting—he has since turned his focus to the legal industry, building out systems and processes to simplify the nuances of accounting for law firms, including three-point reconciliations, advanced client costs, and even commission payments on complex attorney commission agreements

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Basic Bookkeeping

For firms that simply want to stay three-point compliant and know how much their firm is earning…

Client Trust Accounting – The accounting side of your legal business can become more challenging and stressful when financial instruments like trusts are involved. Kollect’s highly adept accountants deeply understand the intricacies of client trust accounting, Bar requirements for IOLTA accounts, and even the complexities of law firm 1099 reporting, which is more complex than most industries.
Advanced Client Costs – Ensure that costs related to matters are accounted for properly. Our team understands the difference between hard costs, soft costs, and costs unrelated to clients. In addition to ensuring these costs are all accounted for properly, we regularly scan for expenses hitting the financial statements that do not appear to be captured in client billing, which puts more money back in your pockets.
Balance Sheets, P&L Statements, and Reports – Our basic bookkeeping services include quarterly financial statements (balance sheet and profit & loss), as well as comparison financials to prior quarters/years where applicable, along with an accounting report that highlights relevant specifics for your firm and seeks clarification from you on any transactions needing a better understanding. If you need more insight into your business and strategic planning, we also offer more advanced virtual CFO services to tackle all of your financial needs.

Hire Accounting Services for Your Law Firm

Whether you’re a solo practitioner just getting yourself established or you’re managing a large team of lawyers with decades of success already under your belt, you may come to find that traditional in-house accounting is costly and inefficient.

Hiring more people may initially seem like a sign of your firm’s health, but recruiting, training, and managing your own financial staff can actually slow your growth.

If your law firm is ready for better, more responsive, more cost-effective solutions in the areas of accounting, invoicing, and tax compliance, reach out to Kollect at your earliest convenience and learn more about how we can help.

After a disappointing experience with a previous bookkeeper, I've had the pleasure of working with Kollect since the early stages of my firm. They handle my invoicing process, client management, and accounting. It allows me…

Quincy Newell - Newell Law Group

I've used Kollect for years. They are easy to talk to, they provide great service, and they've always gone the extra mile for me in my business. I could not be happier to have them…

Robert Bare - Bare Law Firm

I highly recommend Kollect to anyone in need of dependable and professional support.

I've had the pleasure of working with Kollect for assistance with client relations and collecting outstanding receivables. Kollect has consistently demonstrated professionalism, reliability, and discretion in every interaction.

Jeff Lewis - Jeff Lewis Law, APC

Frequently Asked Questions

Are You an Accounting Firm or an A/R Management Company?

We’re both. Our Invoicing and Client Management division focuses on revenue generation and collections, while our Accounting division ensures compliance and maintains your financial health. Whether you need one or both services, we provide the best of both worlds, offering tailored solutions to meet your needs.

What if I Only Need One Of Your Services?

What Size Firms Do You Typically Work With?

You Decide the Level of Support You Need

Whether you’re looking for reliable, straightforward bookkeeping, general AR support, or a
virtual CFO to elevate your business, we’re here to provide the right level of support for you.