Case Study: Provides Back-Office Infrastructure and Best Practices for New Law Firm

CLIENT: Law Firm Client

INDUSTRY: Legal

OVERVIEW:

Trusted an office manager, who claimed to have experience, in maintaining their practice management and bookkeeping software.  As time passed, it became clear that there were some gaps in experience and overall law firm accounting knowledge. A partner in the firm called B2 to do a review of their systems and recommend an action plan.

SOLUTION:

The B2 team identified that the accounting software had not been properly utilized for the entire prior fiscal year and jumped into action of getting the transactions entered in the software. All bank accounts were reconciled.  All fee income and client costs advanced were separated and accounted for properly.  All Trust accounts were balanced to the client sub-ledgers.  Chart of accounts were expanded to proper legal accounting.  Bank accounts and credit cards accounts were linked to the accounting software.  The practice management software was linked to the accounting software.

B2 presented financial statements to the client for the first time since the the firm was opened.

RESULTS & HIGHLIGHTS:

B2 was able to provide the back office infrastructure needed and recommend best practices to manage their billing and accounting software. B2 trained the new personnel on law firm accounting and billing processes, documented those processes, so the partners could feel confident their financial infrastructure was running smoothly.  The partners in the firm now know how much cash they have, how much profit they have and can now look forward rather than worrying about the past.

About B2’s Award-Winning Team

B2 understands the inefficiencies of supporting a full-time Accountant or Office Manager. Imagine having accounting, billing, payroll, and compliance all taken care of by industry experts with over 35 years of experience. B2’s award-winning team can help increase the efficiency of your practice while you focus on your clients.

Results Driven Practices

“We brought in B2 for an entire year during a growth cycle for our firm to evaluate processes and make recommendations on how to increase efficiencies. We have built on that solid foundation ever since. It was one of the best business decisions we’ve ever made.“ – Tina Terrian, Firm AdministratorPirkey Barber, PLLC

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