“Incredibly loyal, felt like part of the firm” CEO – Current LawCFO Client
LawCFO offers Law Firms Finance and Accounting Managed Services and Advisory Services. Our seasoned Industry Experts provide your firm with the resources and knowledge you need to run your firm at peak performance, while allowing you to focus where you’re at your highest and best use.
LawCFOs Managed Services enable our clients to have ongoing access to LawCFOs’ fractional CFO, accounting and finance expertise. Our team maintains the creation of reliable data, implements expert processes and provides strategic insight to your firm which enables truly informed decisions.
Knowing where you stand and identifying necessary improvements represents a critical beginning. The LawCFO process, executed by industry experts, generally starts with a detailed due diligence review of the state-of-affairs within your accounting, finance, HR & Technology operations. The assessment includes policies, processes and procedures and also addresses organizational structure, systems implementation and staffing resources. Management receives a detailed report of strengths and weaknesses across a variety of functional activities. Included is what is working, what is missing and needed corrections.
Next our team of experts utilizes the Report to serve as the Roadmap on how to reach your optimal state of financial operations. We work with your internal team to mitigate risk, remove institutional barriers and build processes and a team to optimize everything possible about your firm.
If you’re unsure your team can take on the task at hand we’ll provide ongoing resources as a service to provide additional help to get all necessary tasks completed or take on all responsibilities our self. Our team of experts provides you with options on how to run your firm in a way that makes you comfortable to get the results you desire.
Utilizing LawCFO Managed Services, our clients optimize their accounting and finance operations by utilizing our expert resources. LawCFO provides experts in each area of Accounting and Finance to ensure your firm maintains its optimal state of performance. These resources will monitor key information, manage specific tasks, ask the right questions and provide strategic insight into the data that we provide.
These are the critical areas our CFOs offer services:
- Financial Strategy & Structure
- Budgeting, Planning and Management Information Systems
- Pricing Planning & Training
- Billing Procedures and Management
- Invoicing Cycle including draft bill review
- eBilling Specific Processes and Procedures
- Cash Receipts
- Aged A/R Management
- New Client and Matter Procedures
- Time Management Policies
- General Ledger Accounting Policies and Procedures
- Trust Accounting
- Accounts Payable
- Recovered Costs
- Sales & Use Tax
- Vendor Procedures
- Cost Recovery