Services

Comprehensive Financial Management Services for Your Law Firm

Those who manage a law firm already know the wide array of duties and responsibilities that come along with this role. It’s not just bookkeeping and payroll—there are clients to bill, billing disputes to resolve, and collection actions to be filed. There are also employees to hire and train and (hopefully rarely) to discipline or even terminate.

And in order to determine how many employees you can hire, how much you can pay them, and how quickly your firm can expand, you need to have some financial forecasting measures in place. This avalanche of duties is enough to make you wonder when you’ll ever have time to practice law!

We treat each of our law firm clients as the unique business entities they are. We understand that no two firms operate in the same way, and there’s often no one “right” way to do things. Our team of highly experienced, dedicated, and versatile consultants can provide you as much (or as little) support as you need to help your firm reach its goals.

Our customizable services include:

Accounting & Taxes

We provide clients with monthly bookkeeping and accounting support, including recommendations and guidance based on the data we generate. Our reports can help you see at a glance where your money is going and what you can do to streamline your firm and ensure it’s as tax-efficient as possible. When you enroll in our accounting services, you can count on:

  • Bookkeeping
  • Advice on profitability and growth
  • Financial reporting and forecasting
  • Maintenance of IOLTA and Client Trust Accounts, including all reports required by the IRS, the state, and the state bar
  • Tax planning
  • Tax preparation

Billing & Collection

Many law firms spend far more time billing (and attempting to collect from) their own clients than they do finding new clients. Not only is this inefficient when it comes to expanding your client base, it’s far from the best use of an attorney’s time. Our billing and collection service can ensure that bills are generated in a timely fashion and that all efforts are made to secure client payment.

HR & Payroll

Even solo practitioners need some level of HR support and management, and for larger firms, these services are crucial to maintaining employee satisfaction, improving retention, and ensuring your team runs like a well-oiled machine. Koma Consulting Group can:

  • Research, recommend and implement employee benefits programs (EBP) for your firm
  • Help you with the recruiting process
  • Implement a systematic hiring process, including assistance in planning, scheduling, and
  • monitoring interviews
  • Manage payroll management, compliance, and reports
  • Monitor the paid time off (PTO) your employees have accrued and used
  • Assist you with the employment termination process

Law Firm Management & Operation

Without the right infrastructure and management techniques in place, you may find your firm floundering whenever you attempt to expand your client base, practice areas, or location. Many law firms spend so much time putting out short-term “fires” that they neglect the long-term planning they need to thrive. Koma Consulting Group can help you get back to basics by providing the following services:

  • Analysis of your firm’s governance and management structure
  • Study of the quantity, quality, and economic efficiency of the work your firm produces
  • Formulation of firm-wide policies, procedures, and philosophies
  • Marketing and business development
  • Proposals for partner compensation structures, profit-sharing systems, and bonuses
  • Other administration services

Testimonials

Get Your Quote or Call: 310 405 9465