Law Firm Operating and IOLTA Account Bookkeeping

IOLA vs IOLTA

These are both the same account. New York is known for using the term IOLA while the rest of the country normally uses IOLTA

Highly rated bookkeeping firm

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Why Is bookkeeping for your law
firm important?

Get your trust accounts spotless in
case of an audit by the state.

We track your expenses and make suggestions on where you can make cuts or negotiate down your current rates.

Have your operating account books always up to date for proper tax planning before year end.

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South Shore Bookkeeping

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"We hit 7 figures in 2021"

South Shore Bookkeeping, owned by Steven, has truly become indispensable to my business over the past few years. Their responsiveness, trustworthiness, and overall pleasure to work with have made them an invaluable asset. They are always quick to address any questions or concerns, ensuring that communication is prompt and efficient. I have complete confidence in their ability to handle my financial information with the utmost professionalism and confidentiality. Their expertise and knowledge have helped me keep my business run much more efficiently ..South Shore Bookkeeping comes highly recommended for their exceptional services .

For anyone needing a first-rate, professional, and diligent bookkeeping firm for their small business, I don't hesitate to recommend Steven and his South Shore Bookkeeping team. They partner with you to simplify the intricate details of the bookkeeping process and help direct your attention to your core business while ensuring that some of the most essential yet tedious business operations are in good and trusted hands. Besides being great at what they do and how they do it... they're just nice people and easy to work with. – Bob Zeltmann, CCO, Ethos Business Marketing

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Why is bookkeeping for
Your law firm important?

  • Get your trust accounts spotless in case of an audit by the state.
  • We track your expenses and make suggestions on where you can make cuts or negotiate down your current rates.
  • Have your operating account books always up to date for proper tax planning before year end.
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Accuracy is needed in
your IOLTA Trust account.

We record and organize your law firm’s daily
expenses using our accounting software to free up
your time for law practice.

Do
  • Have your IOLTA checking account separate from your operating account
  • Always have your books up to date
  • Fix any discrepancies immediately
  • Perform a 3-way monthly reconciliation
Don't
  • Never mixed funds between your operating account and IOLTA account
  • Charging payment fees
  • Borrow money from your trust account
  • Recording your trust deposits as income
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See exactly what your fix and
variable costs are

Our services provide you with the most precise financial
reports, allowing you to catch up on your finances, resolve
financial issues, and discover potential growth opportunities.

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Our Services

Clean up services

Clean up services – Are your books a mess? We can perform a historic clean up and get your books caught up to date.

Budgeting

Budgeting – We will help you prepare a budget and stick to cutting costs.

Operations account bookkeeping

Operations account bookkeeping – We can clean up and maintain your law firm’s books. We will provide you monthly financial reports and KPI metrics.

Analysis comparing other & law practices

Analysis comparing other law practices – We can run KPIs for your firm to see how you stack up to other law firms.

IOLTA account bookkeeping

IOLTA account bookkeeping – Are you worried about compliance with your IOLTA account? We specialize in maintaining your account to meet your state’s standards.

Custom financial reports

Custom financial reports – We can give you reports and analytics to better help you understand where you are spending and earning your money.

Payroll

Payroll – We can help your firm set up and run payroll for all your employees and contractors.

Receipt Management

Receipt Management – Store your receipts correctly incase the IRS ever asks for your financial records.

QuickBooks Online Training

QuickBooks Online Training – We can train your staff on how to manage your firm’s finances.

Invoicing

Invoicing – We can help you bill your clients.

Bill pay

Bill pay – We can help your firm pay its monthly bills .

Why South Shore Bookkeeping

  • We know Law Firms - Years of bookkeeping experience for law firms. We have worked with Law firms since 2018, so we understand what you need to be successful.
  • Know your numbers - We will give you monthly accurate and easy to read financials that allow you to make the decisions you need to in your Law Firm.
  • Industry Benchmarks - See how you compare to other local Law firms.
  • Local roots – We are a small local business; we do not contract out your books overseas.
  • Outstanding Customer Service – All emails and questions answered within 24 hour and the option to always book a zoom meeting.
  • Flat fee pricing – We will offer you a monthly package tailored towards your firm’s needs.

Prompt email responses within 24 hours.

Efficient task tracking and follow-up.

Dedicated & expert bookkeepers.

Secure data transmission and storage.

Transparent flat-rate pricing.

Technology-driven workflow & performance.

Are you worried about your current IOLTA Bookkeeping?

  • Schedule a free consultation today and let us lead you down the right path to financial success How to get started
  • Schedule a free review of your current accounting systems and procedures
  • We will send you a proposal within 24 hours
  • Clean up process takes place- this usually takes 2-4 weeks
  • Monthly services start once we are caught up to date. Your account is worked on weekly and you will receive monthly reports

Flat Fee Pricing
For Your Law Firm

As your law firm bookkeeper, we offer clean up services and monthly packages for a flat fee. There are no suprises.

Are you looking for something else?

Schedule a free consultation with us today.