The legal profession is tough as attorneys have to deal with complex matters, have long working hours, and have to meet tight deadlines. Overseeing an in-house team of accountants can add another strain on them. This is why countless attorneys are choosing to outsource their bookkeeping tasks.
Here’s how legal firms in California can benefit from outsourcing their bookkeeping tasks.
Focus On Your Core Operations
A newly hired in-house team is more prone to making errors when bookkeeping. When they record expenses wrong, and prepare faulty financial statements, this can put the financial stability of the law firm at stake. This could lead to problems with attorney pays, budget shortfalls, and cash flow issues that can lead to an IRS audit.
When law firms choose to outsource to a professional bookkeeping service, they can focus on their business instead of worrying about financial inconsistencies. These firms also use the latest software that help improve efficiency by eliminating redundant manual processes that distract attorneys from their core duties.
Outsourcing bookkeeping tasks also helps save money as attorneys don’t have to incur any recruitment costs or expand their office space for an internal team. This reduces other overhead costs such as utilities or maintenance fees. Furthermore, the company won’t have to buy expensive software that might not be feasible for a small firm.
Outsourcing also reduces your dependency on the person you hire. They can leave any day and affect your operations. When you outsource, you get access to a whole team that will be aware of the specifics of your firm and ensure there are no bottlenecks.
Helps Improve Productivity
Outsourcing bookkeeping helps improve your firm’s productivity. When your attorneys get paid on time, they feel valued and satisfied. Similarly, when clients are billed correctly, this will help improve their experience and encourage them to leave a good review.
Outsourcing will also help improve the work-life balance for lawyers who won’t have to worry about overseeing any recruitment process.
Get Affordable Bookkeeping Services
Considering outsourcing your law firm’s bookkeeping tasks in California? At 3Alpha LLC, our team of accountants and CPAs ensure managing your finances isn’t a hassle anymore. Our team improves bookkeeping practices so that you can charge your clients accurately and manage partner compensation effectively.
Reach out to our team to learn more.