JJ+H Accounting Services and Quill consolidated solutions make annual accounting easy for law firms

Create beautiful one-off or recurring online invoices that are customised for your clients. We are offering a flexible part time opportunity for a Legal Accounts Clerk with possible part home working within our modern, flexible and friendly company. In addition, FreeAgent encrypts your information, which will give you peace of mind that your sensitive data is always in safe hands.

We value the fact they truly understand our business and the legal sector as this enables them to provide us with pro-active valued added advice and suggestions to make our business and strategic business planning even better. We engaged the Armstrong Watson legal sector team to provide outsourced FD services and to assist us through a period of transition following the departure of our previous in-house FD. Their knowledge of the issues and bespoke recommendations have helped to refocus our management thought process and implementation of our strategy. Armstrong Watson has refreshed the output of our accounting function and that has allowed our management team to focus attention where necessary.

We recognise the value in building excellent client relationships

We can help you really understand your business, identify markets, set objectives, be compliant, attract talent and plan for growth. In-house interactive workshop for firms of all sizes throughout the UK designed to get the best out of your Heads of Department. For examples, fees and more detail on how we can help you please see our full list of Legal Sector services below. Disbursements have to be collated and accurately charged to each case, these vary depending on the model employed.

I would recommend the team at Armstrong Watson to anyone else considering applying to become an ABS. Sharon was proactive in providing possible solutions in advance of our scheduled quarterly timetable and was available at several opportunities to test our preferred option of working remotely. Microsoft Teams proved to be invaluable in ensuring we could adapt to a rapidly changing working environment with relatively short notice. Armstrong Watson were instrumental in bringing about this change and ensuring, not only the work getting done on a timely basis but also, staff safety being prioritised. Finally given that this work was being undertaken in March 2020 mid-pandemic there was no interruption to the service provided.

Looking for an Accountant?

In 2016 we engaged the services of Armstrong Watson’s specialist Legal Sector as we sought to change our business structure to reflect our modern approach to Law at our dynamic and growing law firm. Andy Poole and the team were able to guide us through the various structure options to find the structure which met our business https://marketresearchtelecast.com/financial-planning-for-startups-how-accounting-services-can-help-new-ventures/292538/ needs. The checklist approach used allowed us to delegate tasks to the appropriate people and track what needed to be done and when. Following a recommendation made to us, we have engaged the specialist Legal Sector team at Armstrong Watson for our accounts, audit and SRA Accounts Rules compliance requirement.

Invite unlimited users to collaborate on your data and set access permissions for each user. The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers’ terms of use. Solicitors Community
The community provides practical support to chartered accountants within the sector. It offers news updates and technical guidance, as well as conferences and seminars. The rules for reporting accounts are complex and varied, depending on the type of legal entity.

Manage complex transactions with in-built office and client accounting

Millhouses Accountancy are Xero Certified advisors and use this software extensively. However we also have extensive experience using Sage and Osprey (which is accounting software specifically designed for Law firms). Not all legal accounting software is created equally, but you should look for options that come with the following features. Deal with third partiesAn accountant forms a legal representative of your firm and deals with several external parties like banks for loans, tax authorities, etc. They can provide a better view of your finances and speak with the head of the institutions on your behalf.

Extensive built-in financial and management reports provide the information you need to run your law firm effectively. In addition to intelligent business reporting, Osprey provides several auditing functions to ensure financial transparency and accountability. With Osprey, you’ll have a 360-degree view of your client and office accounts, with side-by-side client ledger postings and support for as many bank accounts and currencies as you need. Manage your business finances, nominal ledgers, and banks for all your law firms’ outgoings, invoices and receipts. Detailed legal accounts that allows you to help your law firm clients make better, more informed financial decisions. Reconciliation and verification of the financial transaction quarterly or periodically is an important aspect of accounting for law firms.

The whole process has been unbelievably smooth and we are delighted with the decision that we have made. SRA Accounts Rules
Full text of the current guidance for accountants issued by the Solicitors Regulation Authority (SRA) in effect from 25 November 2019. The rules set out requirements for client money and client accounts, dealing with other money belonging to clients bookkeeping for startups or third parties, and accountants’ reports and storage and retention of accounting records. We moved to Armstrong Watson due to their specific legal sector expertise and knowledge. We have been very pleased with the quality and efficiency of the accountancy, tax and financial advisory services provided by Andy Poole, Graham Poles and the rest of the AW team.