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It’s important to hire a bookkeeper who understands the impact the type of cases can have on your firm’s financials. Part of the complexity stems from management of IOLTA accounts and client billing. Another complex issue is in the integration of QuickBooks with other software your firm may be using. Since we specialize in working with law firms and have experience with managing financials across all practice areas, these complexities are not new to us.

Lucky for our clients, our team has years of bookkeeping experience working specifically with law firms to ensure the process is seamless. Below we break down some unique accounting requirements that can vary by these practice areas: Family Law, Estate Planning & Criminal Law, and Injury.

Family Law

Lawyers or attorneys that practice Family Law, often have an initial retainer and bill clients on an hourly basis. Fees are securely kept in trust accounts (IOLTA) and as hours are worked against the retainer these funds are moved into operating accounts. It can get a lot more complicated depending on the situation, but lucky for our clients MVO Resources has many years of experience managing trust accounts for law firms.

Contact us today and let us take one more thing off your to-do list!

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Estate Planning & Criminal Law

For the purpose of categorizing client financial management, we lump both Estate Planning and Criminal Law bookkeeping together because it can be more straight forward than other practice areas, although each firm will operate differently. Oftentimes there is some kind of payment plans that are managed through an accounts receivable department. Sometimes Estate Planning attorney’s break payments into two separate payments – half upon retaining services and the other when the work is complete.

Regardless of what billing operations your firm uses, MVO Resources is familiar with all the nuances that come with both Estate Planning & Criminal Law practice areas.

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Injury Cases

When a firm receives a settlement from an Injury case, these funds go into a trust account. If the case involves mass tort, the settlement distribution becomes more complex. Even though this money belongs to the client, if there are liens or creditors trying to claim these funds, then someone will need to manage the negotiations with the creditors.

When these pieces are ironed out, a settlement statement is prepared. This statement includes any and all expenses, fees due to attorneys and amounts due to lien holders and creditors.

While it may sound simple, there are a lot of moving parts in preparing a settlement statement for an Injury case. Thankfully, MVO has the experience to ask the right questions and get the pertinent information so everyone is paid in a timely manner.

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Client Testimonials

Danielle and her team will help your firm grow! Two years ago, MVO resources began helping our firm in a bookkeeping capacity. Before long, they were handling a high percentage of our outsourced business management needs, including accounting, payroll, and client collection management. We have doubled in size since MVO came aboard. They have both helped us grow and scaled there services with us to help solve new problems that pop up. We trust Danielle so much that she is a member of our decision making team, sitting in on meetings and acting as a financial officer for the firm. I fully endorse this group, and would be more than happy to chat with anyone who wants to know more.

Danielle along with her team has helped our firm tirelessly in the past year. They are always a message or phone call away and always ready to assist with any issue. Danielle is so personable you will absolutely feel like the only client of hers. This business is well run and I highly recommend them for your management needs!

MVO Resources are experts at overseeing the management of our firm. We originally hired them for general accounting services but soon realized that their proficiency, knowledge and experience at managing a law firm became a necessity for the continued well-being and growth of our firm. Danielle and her team provide superior customer service and finesse in their field. We are grateful for their business partnership.

Danielle and her team are absolutely incredible to work with. She makes you feel like you are her only client and has a quick response to every question you may have. I would recommend MVO Resources 10 times out of 10. They have truly made my life so much easier.!

Great company that has a lot of insight and details on working with Law Firms to increase revenue and help improve overall AR policies. Highly recommended MVO for all Law Firm needs.

Eric Amerson

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