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Built for this industry
Professional service firms sell time and expertise rather than a physical product, which puts the accounting focus on utilization, retainers, and — for law firms — client funds that must be kept completely separate from the firm's own money.
Client Funds
Law firm accounting services combine standard bookkeeping with careful handling of client funds, retainers and billable time. Juris CFO supports trust account reconciliation and utilization reporting, while the firm remains responsible for its own ethics and compliance obligations.
Trust accounting for law firms holds client money separately and records every entry against the specific client. IOLTA accounting rules vary by state, so check your state bar's rules.
Juris CFO supports bookkeeping and reconciliation of trust records in line with the firm's own rules. It does not provide legal services.
Firm Operations
Law firm bookkeeping best practices start with separate trust and operating accounts and monthly reconciliation. Agency bookkeeping and accounting for consultancies follow the same project-focused logic.
Where it gets complicated
How we help
Good fit
FAQ
Each month, compare the adjusted bank balance, the total of all client ledgers and the trust journal balance. All three should match. Investigate and document any difference immediately, and check your state bar's rules for specific requirements.
Keep trust and operating funds strictly separate, record deposits promptly by client and matter, reconcile every account monthly and review reports before relying on them. Never commingle client money with firm money.
Record time by client and matter, invoice promptly and apply retainers as work is performed. Unearned retainers remain a liability belonging to the client; earned amounts become revenue. Monthly unbilled-work reports show whether time converts to cash.
Juris CFO supports reconciliation of trust records in line with your firm's own rules but does not certify compliance or provide legal services. Ethics and compliance responsibility stays with the firm, and state rules vary.
An unearned retainer is an advance payment for future work that generally belongs to the client until earned. An earned fee covers completed work and can move to operating funds. Rules vary by state.
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