Mid Sized Law Firm Reduces Bookkeeping Costs, Improves Cash Flow, and Ensures 100% IOLTA Compliance

3
Legal
Bookkeepers
$129K
Annual Cost
Savings
$270K
Debt Collected & Cash Flow Recovered
$399K
Total Financial
Impact

A mid-size Colorado law firm was struggling to manage bookkeeping across multiple trust accounts, invoices, and monthly reconciliations. Partners and senior staff were increasingly pulled into financial oversight, while outstanding client balances limited cash flow visibility. Expanding the in-house bookkeeping team would have increased overhead without improving scalability.

Goals and Objectives

The firm aimed to improve cash flow through better receivables collection, maintain full IOLTA compliance, streamline accounts payable, and gain reliable financial reporting—without increasing in-house staffing costs.

Results

In the first year, bookkeeping costs dropped by 60 percent, saving $129,303 annually. The firm collected $270,000 in outstanding receivables, strengthening cash flow. All trust accounts were fully managed and reconciled, reducing compliance risk and improving financial visibility. The firm established a scalable, more profitable financial operation without adding internal headcount.

Cost  Savings Breakdown

Annual Salary
Annual Salary
Benefits and Bonus
Office Space and Equipment
Total Cost per Year
3 In-House Bookkeeper
$156,060
$39,015
$18,000
$213,075
3 Remote Bookkeeper
$83,772
—
—
$83,772
Annual Salary
$129,303
saved annually
Total Financial Impact
$399,303
in combined savings and recovered revenue
Cash Flow Improvement from Debt Collection
$270,000
Recovered client receivables

Improve Cash Flow and Protect IOLTA Compliance

Stop letting unmanaged trust accounts, delayed payables, and uncollected balances limit your firm’s growth. Bookkeeper.Law delivers accurate bookkeeping, disciplined financial oversight, and 100% trust account management—without the cost of expanding your in-house team.

Calculate Your Potential Savings