Outsource Accounting Services for Law Firms
Elevate Your Law Firm’s Financial Success with Outsourcing Business Solutions
At Outsourcing Business Solutions (OBS), we specialize in providing comprehensive accounting services tailored specifically for law firms. As the leading provider of accounting services for law firms, we are familiar with the particular financial difficulties and complications that law firms encounter when managing their finances.
Our goal is to free law firms from the burden of financial administration so they can concentrate on what they do best-providing exceptional legal services to their clients.
AWARD-WINNING OUTSOURCING COMPANY
Partner with Outsourcing Business Solutions for Law Firm Accounting Services
By selecting OBS as your law firm’s accounting partner, you acquire a dependable ally who is committed to the financial success of your business.
To handle your accounting needs, we combine knowledge, efficiency, and a thorough understanding of the legal sector.
With OBS, you can profitably manage your law firm’s finances, increase customer satisfaction, and traverse financial complexities with assurance.
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Accounting Services for Law Firms We Offer
- Accounting Setup Services
- Tracking Billable Activity
- Income Statements Preparation Services
- Payroll Processing Services
- Accounts Payable Services
- Accounts Receivable Services
- Tax Preparation Services
- Balance Sheet Preparation Services
- Financial Statements & Reporting Services
- Cost Variance Analysis and Reporting Services
- Monthly, Quarterly, and Yearly Review Services
- Performing Revenue Reconciliation with Bank Deposits
- Bank Account & General Ledger Reconciliation Services
Our Accounting Portfolio
Accounting Services for Multiple Industries
We Support Multiple Accounting Softwares
People Love Working With Us
Why Choose OBS?
Expertise in Law Firm Accounting: OBS has a staff of qualified specialists who are extremely knowledgeable and experienced in this field. We are knowledgeable about the complex rules governing trust accounting, client invoicing, expense reporting, and compliance in the legal sector. You can depend on OBS to manage your financial concerns precisely and accurately.
We understand that every legal practice has different accounting requirements. That’s why, we provide specially created solutions that are in line with the demands and procedures of your practice. OBS can customize services to match your firm’s size, structure, and growth objectives, whether you are a big multi-office practice or a tiny boutique firm.
Our law firm accounting services cover a wide range of financial management responsibilities. OBS makes sure that your company’s financial records are in order, compliant, and easily accessible for analysis and decision-making. This includes managing client trust accounts, reconciling bank statements, and providing accurate and timely financial reports.
OBS uses the most up-to-date accounting software and technological solutions to simplify operations and boost productivity. We improve data accuracy, reduce errors, and promote seamless cooperation with your company by automating repetitive operations and deploying secure cloud-based solutions.
We are aware of the sensitivity and confidentiality of the financial data held by your legal practice. Your financial information is always kept under the highest level of security and protection because of the strong confidentiality policies, encrypted data transmission, and safe storage practices used by OBS.
Compared to retaining an internal accounting department, outsourcing your law firm accounting to OBS can result in significant cost savings. By using our services, you can eliminate the need to hire and educate accounting employees, spend money on equipment and software, and handle recurring payroll and benefits expenses.
Our services can seamlessly accommodate your firm’s growth as you expand and onboard new clients. We have the flexibility to scale our offerings to match your evolving needs. No matter how big or complex your company is, our adaptable solutions can change to meet your changing needs and requirements, ensuring that your accounting operations are effective and efficient.
At OBS, we place a high priority on providing exceptional customer service. Our committed team is always on hand to respond to your questions, offer advice, and provide constant support. We are dedicated to establishing a strong working relationship with your legal practice and making sure you are happy with our services.
FAQ's
Outsourcing law firm accounting means giving a specialized third-party service provider control over a law firm’s financial management and accounting functions. Services including trust accounting, client billing, spending tracking, financial reporting, and compliance management fall under this category.
The benefits of outsourcing law firm accounting are numerous. It enables you to make use of the knowledge of specialists in law firm accounting, optimize your financial procedures, reduce your administrative load, assure industry compliance, and free up time and resources to concentrate on your core legal activity.
The confidentiality and integrity of your legal firm’s financial data are protected by reliable outsourcing providers who give data security first priority and put in place effective safeguards. This covers access restrictions, encrypted storage, secure data transport, and adherence to rules and laws for the industry.
Your business can stay compliant with rules and accounting standards by outsourcing law firm accounting to a specialized vendor. The supplier will keep abreast of regulatory developments, keep precise records, and manage compliance-related duties, including trust accounting and tax reporting.
Yes, trust accounting administration is frequently included in outsourced law firm accounting services. Trust accounting can be complicated, so hiring professionals to handle it ensures precise handling of client funds, account reconciliation, adherence to trust requirements, and the production of trust reports.
Reputable service providers can easily link their accounting systems with the practice management software or money management solutions you already have in place. This guarantees efficient data transfer, prevents effort duplication, and gives you a complete picture of your company’s financial data.
Yes, even if you outsource your accounting needs, you will still have influence over your law firm’s financial operations. Reputable suppliers get to know your business’s unique needs, processes, and preferences for reporting by working directly with you. They work together to create unique processes and offer frequent updates and analysis to support wise decision-making.
Consider a provider’s experience working with law firms, knowledge of accounting procedures used in the legal sector, technological prowess, data security protocols, client feedback, and reputation in the market before choosing one to outsource your law firm’s accounting. Ask for references, go over service level agreements (SLAs), and determine if they can handle your particular accounting demands.
Yes, multi-office or multi-jurisdictional legal firms can benefit from outsourced law firm accounting services. The complexities of handling money across many locations or countries can be handled by reputable suppliers because they have the scalability and resources to do so, ensuring accurate and uniform accounting procedures.
Contact a trustworthy company like Outsourcing Business Solutions (OBS) to begin. Discuss the unique accounting requirements of your law practice, get a tailored proposal, and start the onboarding procedure. To guarantee a smooth transition, the provider will walk you through data transfer, workflow customization, and integration.