We enjoy working with the entrepreneurial spirit that comes from small and medium-sized practices in the Toronto area. We are particularly proud of the value we can add to newly formed legal practices that want to organically grow their firms. They have a keen attention to detail, a solid understanding of the LSO rules and requirements imposed on lawyers and are timely in their responses.

How much does legal bookkeeping cost in Toronto?

That’s why our entire company culture is anchored in honesty and transparency. We have hundreds of happy clients, which has made us the fastest growing accounting firm in Canada. SDG Accountant began in 2014 and has committed to helping small to medium-sized business owners navigate through the complexities of accounting and tax. With Meru Accounting, your firm can focus on legal work while we handle the financial operations efficiently. With accounting handled externally, internal teams can focus on legal work and client service. The outsourced firm provides trained staff and accounting tools.

• It was a seamless transition and for the past 9 years we have been extremely happy with the services provided by AFL.
• Most lawyers use time and billing software for lawyers, like Bill4Time, that supports real-time tracking, matter-based billing, and professional invoicing.
• Acquisitions, partnerships, privatization, and restructuring all require complex accounting.
• Get connected with vetted Axiom legal professionals, seamlessly integrated into your team, when and how you need them.
• Instead of spending time on bookkeeping, concentrate on other important parts of your legal firm.
• Indeed, we offer the PC Law support services you need to manage the financial matters of your law firm and its trust accounts.
• With Kreston GTA’s expertise, you can make informed decisions and plan for future growth, knowing your financial data is always reliable and up-to-date.

The right legal talent, right when you need it.

We make sure that the financial records of your law firm remain in accordance with. We can conduct an internal review before a Provincial Law Society Spot Audit to ensure that you are in compliance with the LSO. Managing expenses becomes efficient with systematized bookkeeping for law firms. Up-to-date financial information helps analyze software, subscriptions, and administrative costs to identify unnecessary expenditure. Optimizing your expense structure can lead to higher profitability and more stable operations. The adoption of various billing methods also complicates financial operations.

• Our bookkeeper can also help you organize your financial documents while working in your office.
• Continuous cash flow monitoring enables large expense planning, accurate payroll calculations, and expansion into new markets.
• Clio can not be used to handle all of the accounting needs of a business.
• The team are always willing to answer questions as they arise and are current with important information.
• The pressure to maintain precise records while focusing on client work often leads to overlooked opportunities for operational efficiency and deeper financial insight.

Our Outsourced Accounting Services for Law Firms

From the get-go, Keith provided a clear strategic solution that set the right direction for the entire process. His expertise, calm confidence, and deep understanding of LSO audits helped me navigate every step smoothly and successfully. He managed what could have been a stressful situation with professionalism and kept law firm bookkeeping everything structured and under control. Our team is well aware of the taxation rules that apply to the legal industry in Canada and can help our clients find tax relief where they can.

Meet Our Legal Talent

Each jurisdiction has specific guidelines for managing retainer funds, so make sure your law firm is compliant with state bar trust accounting regulations. Bill4Time allows you to create professional invoices from detailed time entries, apply matter-specific rates, manage payments securely, and much more. It also helps track unbilled time and review work in progress, so nothing falls through the cracks. The implementation of these QBO Advanced Integration Solutions profoundly transformed Lexicon Legal Partners’ financial operations. The firm experienced a significant reduction in manual data entry, leading to fewer errors and substantial time savings for administrative staff.

• Our professional Bookkeepers are available to train your Firms existing staff in any legal accounting software.
• Let’s discuss how we can go the extra mile to ensure that your Accounting and Tax concerns are expertly handled, with the utmost care.
• Whether you’re flipping properties or managing rental portfolios, we provide tax preparation, cash flow management, and financial insights tailored to real estate investors.
• Now picture the same week with integrated legal accounting software.
• This CLE for in-house counsel explores ethical challenges in advising corporations, including multijurisdictional practice, confli…

In addition to keeping clear records, your State Bar will also ask you to run regular reconciliation, and in particular, regular three-way reconciliation. Trust accounting violations can result in disciplinary action, fines, suspension, or disbarment. Firms may also face client lawsuits and reputation damage that can destroy their practice.

Bookkeeper Spotlight: Meet GTA Accounting; Serving the Toronto Business Community for 6 Years

Sign up to receive the latest updates on industry news and LEAP’s all-in-one legal software solution. Such processes are impossible to imagine without financial records. Law firm bookkeeping enables the transformation of various types of transactions into a clear picture of the company’s financial stability.

International Taxes, Bhagat

Law firms are currently starting to feel the significant changes in technology which has resulted in a strong demand for bookkeepers with advanced skill-sets. Despite working for many law firms, the staff are able to remember the specifics of my law firm. Yvonne Parry has been helpful at problem solving to improve efficiency. The team are always willing to answer questions as they arise and are current with important information.