Small Law Firm Professional

Your Financial Success Begins with Strategic Clarity

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Accounting for Small Law Firms

Accounting is a Tactical tool to the overwhelming Strategic challenge you are facing as a Small Law Firm.  When organized as a business system – accounting can provide strategic clarity and confidence for decision making and planning as you build.

We understand the special and unique challenges related to growing a small law firm.  Accounting can provide a distinct value, specific to law firms.  We have significant expertise and experience working with lawyers and their leadership teams for a common purpose:

Achieving YOUR Vision, Mission, Goals, and Ambition.

IOLA / IOLTA Trust Accounting

How confident are you in your Trust Account Recordkeeping?

One of the first questions we are asked is “Do you have experience with IOLTA / IOLA Trust Accounting?”  When we ask attorneys if they understand Trust Accounting, they confidently reply “of course.”

When digging deeper, most don’t actually know if:

  • their practice manager trust ledger is complete?
  • their books accurately reflect individual client trust amounts?
  • trust deposits are showing as revenue or client funds in retainer?
  • they would be embarrassed by a bar audit?

It’s OK to admit if you don’t really understand where to check your trust. However, you can’t afford to not know.

Industry Proven Systems

Do you leverage Online and Dynamic Systems in your practice?

Let’s face it, the legal pad did not get named by office supply stores!  We understand the value of proven systems.  Yet also realize the power of redundant online dynamic tools.  Software and systems continue to evolve and improve with time.

Kahuna has specific expertise in and leverage:

  • QuickBooks Online
  • Xero
  • Clio
  • Law Pay
  • Gusto
  • Dext (Formerly ReceiptBank)
  • Bill.com

We have experience with several other practice or matter management systems.  We require any system we work with to have direct online access.  Any tool you use must first be right for you and your firm. But those tools may not always be conducive to supporting virtual accounting practices.

Meaningful Reporting

Do you receive timely reports? Do you honestly understand them?

Many lawyers have no idea how much money they are making or how the firm is doing. (Really!) At best, they have financial information but it’s too late to do anything.

Having the bookkeeping under control is only the foundation.

Once established, you’ll receive management reports every month. You’ll see the following reports – to guide you and your business toward growth:

  • 3-Way Trust Reconciliation Report
  • Balance Sheet
  • Profit and Loss
  • Gross Revenues
  • Gross Expenses
  • Net Income
  • Owner’s Draw
  • Accounts Payable / Receivables
  • Cash Flow Forecast Report (currently QBO only– Optional)
  • Dynamic Guidance System (Real Time Dashboard– Optional)

We can be part of your financial team without the same management or benefits of an employee. We will provide accountability and guidance, so you can focus on achieving your goals!

We've Also Been On:

We don't like to brag, but we're changing the game

“Hiring Kahuna was one of the best things our firm could do to help us get a better handle of our books. They helped us streamline and automate our bookkeeping processes, everything from payroll, to paying bills, to moving to QuickBooks Online. We now have a good idea of where we’re at and where we’re going. I would highly recommend Kahuna Accounting for any Law Firm or Small Business.”

Adam DiamondDiamond & LeSueur, P.C.

“It has been an absolute joy working with Kahuna! My questions are always answered in plain English. The team is knowledgeable and shared information with me about my situation that I did not know. Kahuna delivered real results! Thank you Kahuna for the excellent service!”

Audrey K. ChisholmAttorney

“Kahuna surpassed our expectations. Excellent communication understands the RPCs and issues with trust accounts. It is such a heavy burden and when you have people you trust, that is professional and responsive, that weight disappears. I was a bit reluctant to hire them because they are not based in my home state. Those concerns disappeared quickly.”

Aaron PelleyCultiva Law, PLLC

Designed to Take Your Professional Practice to the Next Level…

Of Everything…

3 Step approach as an advocate for the entrepreneurial firm owner

Discover

Discovery is essential!  Be brutally honest with yourself.  You likely don’t know the truth behind your numbers.  You are not alone. Honest business owners deal with the same challenges.

Develop

Once you know where you stand right now, then you can begin to develop your plan for the future.  Multiple options will become self-evident from the Discovery step.

Drive

Once you really know where you are starting and aware of the options, DRIVE your future.  This is an active implementation of tactical pieces of your business.  It includes accounting and puts you back in control.

Why Discovery?

Since we began serving attorneys in 2013,

one thing is very clear…

Attorney’s will delegate everything relating to managing their firm. This model has led to discovering numerous dumpster fires in law firm accounting.  In the past, we’d become firefighters. Worse yet, many firm owners or their managing staff had no clue.

Intellectually honest Attorneys also won’t take a matter without their own discovery.  How many dumpster fires have you fought? How many are still ongoing in your firm for not following a thorough discovery?  Why should small law firm accounting be any different?  The attorney / firm owner / managing partner deserve to know the truth.  Why would anyone expect a successful outcome without a proper discovery of the financials?

That’s WHY Kahuna developed the Discovery Accounting Assessment ™ For Lawyers.

Show Me How