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What Are The Duties And Responsibilities Of A Legal Bookkeeper?
What are the duties and responsibilities of a Legal Bookkeeper?
Dedicated in supporting law firms save time and money.
Generally speaking there are no significant differences between a legal bookkeeper and a standard bookkeeper, they share many of the same duties.
The main difference that you should be aware of is that a legal bookkeeper is required to have a clear understanding of law firm invoicing and keeping accurate records of transactions in the Attorney Trust account (where clients pay into). This is essential to keep the firm functioning well with a sound understanding of their financial situation.
What are the other duties of a legal bookkeeper?
- Recording every financial transaction
- Monthly bank reconciliation
- Creating and sending statements and invoices
- Following up on outstanding invoices
- Issuing monthly statements
- Creating a balance sheet of all data collected
- Maintain records for annual audits
What is the difference between a Legal Bookkeeper and a Legal Accountant?
Let’s break it down, a Legal Bookkeeper is involved in the initial stages of the process they take care of the administrative aspect of finances which involve recording transactions and keeping these records organised, reconciling bank transactions monthly and making sure you audit runs smoothly.
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Whereas the role of a Legal Accountant is to process these recordings, interpreting and analysing the data and reporting the financial information. Typically a legal accountant is mostly required during specific periods during the financial year.
How experienced should a legal bookkeeper be?
Generally speaking, legal bookkeepers are highly experienced with a strong background of bookkeeping knowledge and a fantastic understanding of law firm invoicing.
Fortunately for you, at Legal Accounts, we strive to offer legal firms an exceptional service that will save money (and precious time). To ensure we deliver a faultless service, we ensure our team members are expertly-trained and dedicated to their role as a Legal Bookkeeper.
Due to our exceptional dedication, great care is taken when it comes to dealing with and protecting our client's data. All tasks are completed to the highest possible standard and with attention to detail.
Find the right Legal Bookkeeper for you that is cost-effective, has capacity and can take the stress away from you.
Are you ready to onboard an outsourced Legal Bookkeeper? Get in touch with us to discuss the potential we have to save your business valuable time and money.
