bookkeeping services for law firms

Law Firm Bookkeeping Services in the US

Running a law firm requires more than just legal expertise — accurate financial management is essential. At Positify, we provide specialized bookkeeping and accounting services tailored for law firms, helping you manage IOLTA trust accounts, client cost advances, and compliance reporting with precision. Whether you are a small practice or a large firm, our team ensures transparency, compliance, and efficiency in every financial transaction.

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Why Law Firms Need Specialized Bookkeeping

  • Strict compliance with IOLTA trust accounting
  • Detailed expense tracking and client cost recovery
  • Timely financial reporting for partners and clients
  • Audit preparation & IRS/state compliance support
  • Transparent cash flow management

Who We Serve

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  • Solo practitioners
  • Small & mid-sized law firms
  • Large firms with multi-entity structures
  • Legal startups and online practices

Pricing & Packages

  • Starter (ideal for small firms) → basic bookkeeping & IOLTA reconciliations
  • Growth (mid-sized firms) → payroll, reporting, accounts receivable/payable
  • Premium (large firms) → full CFO oversight, capital planning, advanced analytics

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Our Law Firm Bookkeeping Services

01

IOLTA Trust Account Management

  • Monthly reconciliations
  • Interest allocation & compliance with state bar rules
  • Detailed reporting for audits

02

Expense Tracking & Cost Recovery

  • Advanced client cost accounting
  • Case-related expense categorization
  • Automated reporting & reimbursements

03

Payroll & HR for Law Firms

  • Payroll management for attorneys & staff
  • Benefits tracking & compliance
  • Multi-state payroll setups

FAQ – Law Firm Bookkeeping

IOLTA (Interest on Lawyers Trust Accounts) is a mandatory compliance requirement for law firms that handle client funds. Proper IOLTA trust accounting ensures client money is segregated, reconciled monthly, and compliant with state bar regulations. Accurate IOLTA management protects your license and avoids penalties.

Pricing depends on the size of your firm, transaction volume, and scope of work (e.g., payroll, trust accounting, reporting). On average, outsourced law firm bookkeeping costs 40–60% less than maintaining an in-house accountant. We offer hourly, monthly, and package-based plans tailored to your needs.

Yes. We specialize in legal software integrations and can connect bookkeeping with tools like Clio, MyCase, Amicus, QuickBooks, and Xero. This ensures seamless financial tracking directly within your practice management workflows.

Absolutely. We work with solo practitioners, boutique firms, and large multi-office practices. Whether you need basic monthly bookkeeping or full CFO-level reporting, our solutions scale with your firm’s growth.

Yes. Our team provides audit preparation, compliance checks, and support during IRS or state bar audits. We ensure your books, trust accounts, and reports are audit-ready, reducing stress and protecting your firm’s credibility.

We provide both. Many clients prefer remote support for cost savings and flexibility, but since our office is based in Los Angeles, we can also meet in person when needed.

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If you’d like to have a Book, please provide your contact details, and we will contact you shortly to provide all the necessary information.