CleanSlate offers 30 days money back guarantee to ensure client satisfaction.
Rest assured we always put our clients’ requirements first.
Payroll processing became 50 times faster for law firms who trusted CleanSlate for their payroll services.
To run a successful law firm, it is essential to have an effective system for managing your finances and accounting.
This includes keeping detailed records of all incoming transactions and outgoing transactions, as well as regularly reconciling those records with the accounts of your vendors and clients.
Additionally, it is important to be mindful of tax laws and regulations that may affect your firm, as well as changes to existing laws or regulations that might impact your business.
CleanSlate is a leading accounting firm in Australia which specialises in bookkeeping and payroll processing for law firms. Contact us today to know more!
Let's discussAt CleanSlate, we are committed to providing top-quality accounting services that are tailored to meet the unique needs of law firms.
We offer our services at rates as low as $26 per hour, while also offering bookkeeping package options that resonate with the requirements of your law firm.
As an established bookkeeping service provider with extensive experience in the legal field, we ensure the accuracy of your BAS filings.
We work diligently to provide efficient and streamlined processes for our clients allowing you to focus on what truly matters without worrying about any accounting-related concerns.
Our robust internal controls and sound practices ensure that all of your accounting data is protected at all times and in good hands.
Many clients appreciate having bookkeeping and tax services under one roof, while also enjoying the predictability of a fixed fee. Below is our indicative fee for a standard scope of work:
Businesses often require assistance with certain additional accounting tasks. To ensure flexibility to our clients, we offer hourly billing options for these additional tasks.
Manage your bills, pay your vendors on time, and keep your cash flow in check.
Streamline your invoicing, track payments, and manage your cash flow efficiently
Xero multi-currency allows you to receive payments in 160 currencies
Rest assured we always put our clients’ requirements first.
Bookkeeping for a law firm is different from accounting for other types of businesses in several keyways.
For one thing, there are many specialized accounting procedures that are required for law firms, such as tracking expended time, resources, and billable hours for each client.
In addition, law firms must maintain strong relationships with their clients, who often have very high expectations about communication and transparency.
Overall, successfully navigating the unique challenges faced by any accounting department within a legal practice requires highly specialized knowledge of the industry and its regulatory landscape.
Our bookkeeping services provide you with accurate, up-to-date financial information, helping you to stay on top of your financial information.
Our team of experts works tirelessly to match your accounting data with your bank statements, and we use this information to identify discrepancies and resolve any issues.
Our payroll services ensure that your employees’ pay is calculated correctly and they are paid on time. You can count us for our top-notch service.
Our reports include everything from standard Profit and Loss Statements and Balance Sheets to more complex financial analyses and forecasts.
At CleanSlate, we specialize in bookkeeping for law firms. Our expert team of bookkeepers has years of experience working with clients in the legal industry, and we have a deep understanding of the unique needs and challenges facing law firms today.
Our fee is the lowest in the industry starting from $26 per hour.
Law firms can focus on their clients and practicing law, while we take care of the accounting.
Our team has years of experience working with law firms and are up to date on the latest changes in the field.
We understand that for law firms, communication and transparency with clients is key, so we always keep them in the loop.
Our meticulous attention to detail ensures that your books are always in order.
Call nowIf you're looking for an excellent accounting and tax service, CleanSlate is definitely worth considering. The team is very professional and supportive, and the process is streamlined and efficient. Overall, I've had a great experience working with them!
Law firms often have unique revenue streams, such as billable hours and contingency fees, which require specialized accounting knowledge.
Additionally, law firms are subject to ethics rules and regulatory requirements that may impact their financial practices.
Common accounting tasks for a law firm include managing client billing and collections, tracking time and expenses, budgeting, financial reporting, and handling payroll for employees.
Law firms typically bill clients on an hourly or flat fee basis for their legal services, and may also bill for expenses incurred during the course of representing a client. The firm's accounting team is responsible for creating and sending out invoices to clients, collecting payment, and following up on any overdue or delinquent accounts.
Regularly monitoring aged receivables and reaching out to clients for prompt payment can help prevent cash flow issues. It's also important to accurately track billable hours and properly allocate payments to the appropriate matters.
Many law firms use timekeeping software to track the hours their attorneys and staff spend working on client matters. This information is then used for billing purposes, as well as budgeting and financial planning for the firm. Expenses may also be tracked using software or through manual recordkeeping, and may include things like travel expenses, court filing fees, expert witness fees, and office supplies.
The accounting for law firms includes processing payroll for all employees, including attorneys and staff. This may involve calculating and processing pay runs, withholding taxes and other deductions, and filing necessary payroll tax documents.
The firm may also provide employee benefits through salary sacrificing, and the accounting team would handle related tasks such as completing paperwork, monitoring compliance and making payments to various parties involved.
Many law firms choose to outsource their payroll management to accounting companies who are capable of handling all the end to end aspects of payroll processing.
Arguably, there are many benefits of outsourcing payroll processes including minimisation of errors, cost and time savings, improved data security, tax compliance etc.
Law firms typically prepare monthly or quarterly financial statements for internal use, including profit and loss statements, balance sheets, cash flow statements, and budgets.
They may also need to produce financial information for external parties such as lenders or investors.
It's important for the firm's accounting team to have a thorough understanding of acceptable Australian Accounting Standards in order to properly report financial information.
Some best practices for law firm accounting include regularly reviewing and updating billing rates, clearly communicating billing and payment policies to clients, staying organized and diligent with financial record keeping, and regularly monitoring the firm's financial health.
Speed up your accounting and make every minute count. Book a meeting with our team now.
Easy to read e-books, guides, and calculators to help you run your business smoothly.
Our e-books provide valuable insights that will help manage your accounting function.
ExploreOur easy-to-use calculators are a great way to explore financial health of your business
ExploreFor a business set up or streamlining your current operations, our online forms can be a real help.
Explore