Bookkeeping for Solo and Small Law Firms

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Held Back by a Broken Accounting System?

If you can relate or know the following items apply, you may have an accounting system that is not serving you or your firm.

Accounting statements and bank accounts different?

If you don’t know you may be in for a big surprise!

Practice / matter management never synced?

The software companies will sell you the promise of a seamless sync.  How is that working out for you and your team?

Financials completely meaningless to your goals?

Your goals should align to your financials.  How else will you measure your success?

Tax season a painful nightmare?

Shoe boxes of receipts and statements are never fun when your CPA is billing you by the hour.  The hidden benefit of a clean set of financials, puts you back in control and significantly reduces stress.

Feel like your time is wasted on pointless data entry or uploading documents?

Even when you are a solo, this feeling is common.  The most efficient use of your time will be freeing for you and your staff.

Common misconceptions of solo and small law firms

My paralegal can reconcile the accounts.

Thinking that your business financials are simply a checkbook register will set you up for failure.  Plus if you ask your paralegal, they are likely not thrilled with this added duty.

My CPA has never told me I’m missing anything.

Certified Public Accounts have a massive set of testing criteria to reach that title.  Unfortunately, if they are honest, they will not have expertise in every type of business.

I pay for everything with a card, it’s all tracked in the cloud.

The credit cards may be tracking what you’ve bought, but that doesn’t mean classified for accounting purposes.  The ability to understand what the impact is on your firm is different, and can make a significant difference in your future.

It only takes me a couple hours a month.

This one is far too common and candidly humorous.  What do you bill for your hourly rate to be an attorney?  Is accounting really your most efficient use of time?

Discovery Accounting Assessment Designed for Solo and Small Law Firms

If you’re unsure about the true health of your books and accounting practices, it’s not your fault. You practice law as an attorney, not an accountant.  A Discovery Accounting Assessment will review your QuickBooks Online or Xero account, to provide an independent 3rd party review of your books.

The accounting for your firm should not cost you time and money. Strategic financial clarity is incredibly important to grow and scale your business’s profitability and future.

You deserve a financial team and system, aligned, calibrated and coordinated with you.  Gain financial clarity and fuel your business growth, with a Discovery Accounting Assessment, providing the following:

  • A quick check of your accounting system (QuickBooks Online or Xero) processes, and practices for accuracy and efficiency.
  • A review of your chart of accounts and trust accounts.
  • A snapshot of your forecast cash flow. (QBO Only)
  • Your own personalized Discovery Accounting Assessment report, with a list of possible anomalies, if any, to address.
  • Guidance on mitigating and/or maximizing problem/successful areas of your business to fuel profitability.
  • PLUS A BONUS call with a Kahuna team member upon receiving your report, to answer questions uncovered in your report.

Kahuna Accounting Specializes in Accelerating Law Firms Forward

Let Kahuna Accounting provide you the insight you need to get from where you are to where you desire to be. Here’s how it works:

Step 1: You’ll Gain Peace of Mind With Clean Financials

Many lawyers have no idea how much money they are making or how the firm is doing. At best they have annual financial reports or tax return information, but never do anything with it.

Kahuna Accounting leverages the best in class technology to streamline your practice. With your input and access, we can do all the work. Whether we clean up your historical data (limits apply and must be reviewed) or start clean beginning on January 1st, we’ll handle the transition and you’ll stay focused on your practice.

Step 2: You’ll Save Time and Reduce Stress

Whether our world-class team handles the day-to-day bookkeeping or our team works as an extension to your existing bookkeeper/accountant, you will have real-time data and a forward-looking view.

You can focus on building your firm. Let us help you align, calibrate and coordinate your numbers to your vision.

Step 3: You’ll Gain Confidence and Clarity with our Reporting System

Having the bookkeeping under control is only the foundation. Once that’s set, management reports every month will guide you toward future growth. Every month you’ll be able to see:

  • Balance Sheet
  • Profit and Loss
  • Gross Revenues
  • Gross Expenses
  • Net Income
  • Owner’s Draw
  • Accounts Payable / Receivable Report
  • Budget Variance Report (Optional)
  • Cash Flow Report and Trends (Optional)
  • Dynamic Guidance System (Real Time Dashboard Optional)

Note: Customization to each of the above reports are possible to match your needs.

When you get these reports, our team will share with you some standout numbers and be available to discuss exactly what’s happening financially in your organization.

We will be an extension of your financial team, providing accountability and guidance so you can focus on achieving your goals!

Want to learn more about working with Kahuna Accounting?

Listen, we want to be clear that we are not for everybody. We love entrepreneurs and helping them grow. Our system is to automate and simplify bookkeeping and provide insight to help the practice grow. This typically works best for practices that are rapidly growing and craving a deeper insight into their business.

If you are more status quo or looking for the lowest cost way to just have financials for a CPA, we are probably not going to be right for each other.

Are you tired of looking backward, and wondering where you stand?

Do you want to do big things and be a better leader / owner of your practice?

Are you ready to take control of your results and build the practice you had in mind when you started?

We’d love to partner with you to make it happen.

Schedule a call now!