A law firm can be producing significant revenue and still experience tight cash flow. Billing, collections, payroll, owner draws, trust transfers, expenses, and work in progress do not always move together.
PMK helps law-firm owners understand questions such as:
How much revenue is actually being collected?
Which attorneys or practice areas are generating revenue?
How much work has been performed but not yet billed?
How old are outstanding receivables?
Is payroll sustainable at the current collection level?
Are trust and operating transactions being handled consistently?
Why does the firm appear profitable while cash remains tight?
Law firm bookkeeping involves more than a P&L: client trust funds, retainers, and case costs all have to be tracked separately from firm operating funds, with reconciliations that hold up to scrutiny.
Services may include:
PMK has experience working with financial and operational information across platforms such as QuickBooks Online, Actionstep, payroll systems, banking platforms, and Excel-based reports.
The goal is not to create more reports. It is to connect the information your firm already has so leadership can see what is happening with revenue, collections, payroll, cash flow, receivables, and trust activity.
PMK can help organize these numbers into reporting that supports better management decisions — see Financial Advisory for more on how this works.
Trust funds — client retainers and settlement funds — have to be tracked completely separately from a firm's operating funds, reconciled individually, and never commingled with firm revenue. A single trust account reconciliation error can create compliance problems, so it's handled with more precision than standard operating account bookkeeping.
Yes — bookkeeping is coordinated with whatever system your firm already uses to track matters, retainers, and client funds, so trust activity in your practice management software and your accounting records stay consistent.
Yes — I've worked with law firm clients, handling trust account reconciliation, case cost tracking, and monthly operating account bookkeeping.
Access to your accounting software (typically QuickBooks Online), your trust account bank statements, and your practice management software if you use one. Anything else gets sorted out during onboarding.
PMK provides bookkeeping, reconciliation, reporting, and financial-management support. Legal ethics compliance and final responsibility for trust-account procedures remain with the law firm and its attorneys.
We'll talk through how your trust accounting is currently handled and where support would help most.