“With a staffing footprint of only a few attorneys why do I need a bookkeeper?” It’s a question I’ve heard a lot over the course of my career. Many lawyers who work in small firms don’t see the benefit of relying on external expertise to keep their books organized. Unfortunately, many of those same lawyers eventually come around to a different way of thinking only after something bad, or even catastrophic, happens with their accounts.
The nuances of bookkeeping vary from one corner of the market to another. When assessing candidates, it’s important to look not only at total years of experience, but also at the relevance of that experience. For example, if your business is fashion, a bookkeeper who has primarily worked in the auto industry won’t have the insights into your industry that can really add value to your work together.
Many small firms struggle to choose between electronic and paper-based bookkeeping systems for their trust accounting. While each method has its upsides and drawbacks, we argue below that a properly organized and maintained electronic system is superior to its paper-based ancestors. Read on below to find out why!
