Law Firm Accounting
Think lawyers don't need an accountant? Think again! Of all types of businesses, lawyers probably need accounting the most.
Failure to properly manage finances could spell disaster for a law firm. That's where law office accounting experts like Honest Buck come into play.
Why Law Firms Need Accountants, too
Honest Buck knows all too well that handling client money can mean sticky business for lawyers.
That's why we work closely with our legal clients to ensure all ducks are lined up in a row, financially speaking. While lawyers are busy dealing with law, we do the math.
A lawyer must uphold a certain level of professionalism. If not, they risk losing money, clients or,
worse yet, get disbarred. When dealing with retainers, case costs, and other client monies, Honest Buck can keep your law practice:
Don't Risk Losing Your Legal License
If your law practice doesn't remain compliant and ethical, it runs the risks of being shut down.
Take, for example, a panicked lawyer who contacted Honest Buck with a desperate cry for help.
The BAR Association had sent him a letter. Unbeknownst to him, he had overdrawn his client trust account. *gasp* This type of mismanagement of money raises a huge red flag with the BAR.
If the issue isn't addressed ASAP, a lawyer could lose his license
and say "Buh-bye!" to his law practice.
Have No Fear, Honest Buck Is Here!
Fortunately, the accounting and tax professionals at Honest Buck are always standing by ready to assist. After receiving the lawyer's SOS distress signal, Honest Buck immediately stepped in.
First, they went through and reconciled all client trust accounts with a fine-toothed comb.
Next, they identified the sources of the problem that were causing the red flag.
Once they had a better understanding of the problem and how to address it, they wrote up a
response along with supporting documents and sent it to the BAR Association on the lawyer's behalf.
Prevention Is Key
But, that's not all! To prevent the lawyer's issue from rearing its ugly head again, Honest Buck developed a system to keep track of client trust accounts. Problem solved.
Now the lawyer will never have to worry about his trust account becoming overdrawn again.
You can see how it pays to have an accountant that can help you avoid
such an issue from happening in the first place.
More Bang for Your Buck
Honest Buck helps its law clients nip problems in the bud, prevent potential risks, and reduce taxes, as well as a range of other financial services.
As an expert in law firm accounting and tax preparation, we do what we do so you can focus on your legal clients.
No matter the need, Honest Buck is the place to turn for getting down to the nitty-gritty of your finances.