Outsourced Accounting for CPA Firm Supporting Law Firms with Trust Accounting

Industry

CPA Firm (Legal Clients – Law Firms)

Services Provided

Trust Accounting (IOLTA), Payroll, Compliance Reporting

Location

Boston, Massachusetts

Engagement Duration

Since February 2024

The Challenge

The CPA firm struggled with:

  • IOLTA Trust Compliance Issues: Improperly managed client trust accounts.
  • Payroll Confusion: Attorneys and paralegals had misclassified hours and bonuses.
  • Frequent IRS Notices: Poor reporting led to late filings and penalties.

Our Solution

We delivered law-firm-specific accounting protocols:

IOLTA Trust Management

  • Set up 3-way reconciliations per state bar rules.
  • Provided monthly audit-ready trust ledgers.

Law Firm Payroll Automation

  • Integrated Clio with Gusto for precise time tracking and payroll accuracy.
  • Managed bonus payouts, draws, and reimbursements.

The Results

After just six months of working with us, the business experienced tangible improvements:

Metric Before After
Trust Reconciliation Accuracy Risk-Prone 100% Bar-Compliant
Payroll Consistency Delayed & Error-Prone On-Time & Accurate
IRS Noticesg Recurring Zero Since Onboarding

Key Takeaways

  • Outsourced legal accounting ensures trust compliance and clean audits.
  • Law firms need practice-specific payroll and reporting systems.
  • CPA firms can scale legal clients with minimal internal effort.

Client Testimonial

You've become our backbone for trust accounting—we now market it as a service advantage.

Partner, Legal CPA Firm

Boston

Legal Accounting Support That Checks Every Box

Trust-compliant. Audit-ready. Fully automated.

Schedule a Free Consultation Today

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