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Tandem Legal Bookkeeping is a full-service legal-specific bookkeeping firm. We provide our clients with efficient billing, IOLTA compliance, and up-to-date financial information. We excel at the unique challenges that come with legal-specific bookkeeping.
Our Focus
We focus on the three accounting areas specific to legal bookkeeping:
Trust Accounting
Our team has developed processes based on the most stringent regulations to eliminate guesswork and ensure that our clients are always in compliance. We accomplish this by notifying you when a transfer should be made into or out of the trust account, preparing the necessary reports for transfers made during billing, and preparing bank and IOLTA documents required for each transaction. In addition, we prepare all monthly reconciliation reports required by IOLTA regulations.
Legal Accounting
This area is often overlooked until billing when there is a rush to enter reimbursable client costs, payments, and trust receipts. Our team avoids this by ensuring that matters are always invoice ready. With daily reconciliations, we ensure the client costs are entered as paid, trust deposits and client payments are reconciled, and trust transfers are completed immediately upon receipt clearance.
Business Accounting
Our methods allow for up-to-date financial information for your bank and credit card accounts. Monthly reconciliation is simply an end-of-the-month result rather than a time-consuming task.
Our Approach
We help firms at every stage - whether you're just starting out, looking to migrate systems, or need to catch up on bookkeeping.
For new firms, our team will work with you to set up and customize your cloud-based legal software and help you onboard any third-party integrations. Based on best practices, we'll create seamless workflows for your legal management and accounting systems.
For firms migrating to a new system, we will review your financial information in the old and new systems to ensure that carryover balances, client/matter balances, and trust account balances are accurate. At Tandem Legal Bookkeeping, we ensure that "garbage in, garbage out" will not affect your new system.
For firms catching up on financial management - we have a long track record of reconciling seemingly unreconcilable accounts. We understand the unique needs of law firms and common entry mistakes, especially for trust accounting.
Our Software
Tandem can assist you in finding the right legal software for your law firm while optimizing it for your particular needs and circumstances. We are certified and/or partnered with a number of cloud software providers:
