Training

We are committed to assisting law firms in running successful businesses. In addition to offering staff training, our team assesses data collecting, document management, and financial procedures. If there are no policies or procedures in place, we can create them to improve business operations. For instance, making sure that matters are properly categorized in the CRM data field. If necessary, we can review the client intake procedure and designate the proper personnel.

Historical Clean Up

We at firmTRAK solutions are aware that commonly performing DIY initiatives has unfavorable outcomes. We provide a comprehensive solution that includes historical clean up in order to assist law firms in outsourcing their bookkeeping and improve their general effectiveness. We use our wealth of resources as Xero Advisors to expedite the process and offer added advantages. Numerous of our clients rely on us to handle their reports and guarantee that numerous years’ worth of tax files are completed on time. You can rely on firmTRAK solutions for assistance with organizing old records. We are ready to help.

Full Bookkeeping and Reporting

With access to vital information from numerous operating systems, including legal CRM, bank/credit card systems, payroll, and merchant processors, firmTRAK performs as an integrated team member. Our strategy entails asking questions about the business’s activities, which helps us understand its complexities and improve the current chart of accounts. Once we have a thorough grasp of the essential steps, we design a workflow document that is specific to the best practices of your law business. We uphold our dedication to providing great service throughout the month-end procedures, assuring the timely and accurate release of reports. By the end of the year, your CPA will be very grateful for our work, saving you time and money when it comes time to file your tax returns.

3-Way Trust Accounting and Audits

The bedrock of our service to attorneys and law firms is a complete 3-way trust reconciliation that complies with all major state bar associations.  The definition of the three accounts are:

• Receipt and disbursement journals (CRM Software, CLIO, PP, Action Step, Excel, Paper)
• Contemporaneous ledger records (Accounting Liability on balance sheet, Accounting software, Xero, QB, Other)
• IOLTA Bank Account records (checkbook registers, check stubs, bank statements, records of deposit, and checks or other records of debits)

  By reconciling this each month, we ensure accurate client balances for proper record keeping and billing.

Budget Creation Assistance

It’s time to step it up and set goals once your company has developed a regular flow of reports and a solid base of financial information. Consider developing a budget, even a break-even budget, to start thinking about your future financial choices. If your goal is to increase your workforce, knowing your existing profit margins and figuring out the break-even point might be really helpful. With this knowledge at hand, your company may strategize and plan for a variety of decisions. The basic budget is one of the services that firmTRAK offers to law firms. The typical report package will contain the budget variance report, which can be customized to meet your unique requirements.

Commitment to Prompt Communication

Being forced to deal with unresponsive customer service can be very aggravating. Getting help sounds difficult, whether it involves navigating a confusing phone tree or sending emails into thin air. The people on the other end frequently lack the authority to resolve your problems.

We at firmTRAK are intimately familiar with this situation. We focus offering you timely and trustworthy answers to your questions as a group of attentive professionals just like you. When you contact us, we make care to respond to your inquiries right away. In place of automated phone trees and outside answering services, our committed team members directly answer your calls. We respect your time and sincerely value your patronage.