Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Legal practitioner and Law Representatives
Quality Driven Approach
QuickBooks And Xero Certified Experts
50% Reduction
In Costs
Part Time / Full Time Resources For
- CPA Firms
- Bookkeeping Firms
- Business Owners & Startup Companies
Starting from AUD 700 for 40 hours months
Starting from AUD 2100 for 160 hours months
Hire Remote Team
Remote Bookkeeping & Accounting Services for every business Owners, Chartered Accountants, CPA firms & Bookkeepers.
Quality Driven Approach
QuickBooks And Xero Certified Experts
50% Reduction
In Costs
Part Time / Full Time Resources For
- CPA Firms
- Bookkeeping Firms
- Business Owners & Startup Companies
Hire Remote Team
Bookkeeping software expertise
saasu
intuit QuickBooks
netsuite
wave
Freshbooks
odoo
Xero Gold Partner
zoho books
simply accounting by sage
yendo
Our Services
We are a group of professionals who offer accounting and bookkeeping services to our clientele across the AU. We offer standard as well as tailored accounting and bookkeeping solutions based on the specific requirements of our clients, ensuring them the best results with our services.
Setting up Xero/Quickbooks
Fill out our checklist to complete the Setup of your Cloud Software in a day. We provide step by step guidance.
Day to Day Bookkeeping
We will ensure that your books are upto date on the daily/weekly basis so you can stay on top of the Financial position.
Year End Finalisation
We shall provide you complete Financials which can easily be used in preparation and completing Corporate Tax Return.
Payroll Setup and Processing
This covers filing your Payroll through Single Touch Payroll system, TFN Declaration, Superannuation Return filing, Installment Activity Statement filing & PAYG Calculations.
GST in Australia
We shall reconcile your GST input Credit account and Output liability account.
Monthly Management Reports
We provide customized reports based upon client requirement. (Sales Perfomance, KPI’s, Overheads reporting, etc)
Bookkeeping for CPA's
We provide end to end bookkeeping solutions for CPA’s and bookkeepers in the AU.
BAS Returns
We deal with BAS very closely for our clients to ensure that GST claim is correctly calculated and Submitted Timely.
Annual Company Tax Return
We shall do your Individual & company Tax filing through your ATO login.
Why are we the 1st choice of AU Businesses for Accounting & Tax Return Preparation
Reduce 50% in Current Costs
You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant.
Self Hosted PMS
Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.
Faster Turnaround
We generally reply to every emails same day or within maximum 24 hours.
Starting from
US $10 Per Hour Bookkeeping service
Detailed & Regular Work Updates
We send emails that carry all the necessary information you need to carry out business operations.
Monthly Meetings with CPA
We conduct monthly meetings with CPA’s for effective communication and understanding client needs.
Meeting Deadlines
We finish all our work prior to deadlines to prevent any kind of chaos during finalization. .
Detailed Checklists
We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.
High Quality of Work
Our Standardized Procedures and Checklists will ensure error free work. .
Cloud AddOns Expertise
Hubdoc
With Hubdoc, you can automatically import all your financial documents & export them into data you can use.
Gusto
Gusto offers fully integrated online payroll services that includes HR, benefits, and everything else you need for your business.
Spotlight Reporting
Attractive performance reports quickly and efficiently. Ideal for organizations that need deeper insight and analysis.
Receipt Bank
Receipt Bank converts those annoying bits of paper – receipts and invoices – into Xero data!
AutoEntry
AutoEntry captures, analyses and posts invoices, receipts and statements into your accounting solution.
Shopify
Connect Shopify and Xero to effectively manage your online sales, inventory and accounting requirements.
Bookkeeping and accounting for lawyers and law firms in Australia
Are you a lawyer or part of a law firm in Australia? If so, then you know the importance of managing your finances. Bookkeeping and accounting may not be the most exciting aspects of running a legal practice, but they are crucial for ensuring financial stability and success. In this article, we will explore the benefits of incorporating professional law firm bookkeeping services and accounting specifically tailored for lawyers and law firms in Australia.
Role of bookkeeping and accounting for lawyers and law firms
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Bookkeeping for Lawyers and Law Firms:
- Recording and organizing financial transactions, such as client payments, billable hours, and expenses.
- Managing trust accounts to ensure proper handling of client funds and compliance with legal requirements.
- Tracking and categorizing invoices and receipts to maintain clear financial records.
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Accounting in Law Firms:
- Preparing financial statements, including balance sheets and income statements, to evaluate the firm's financial health.
- Analyzing financial data to identify trends, measure profitability, and assess overall performance.
- Offering strategic advice to improve financial efficiency and increase profitability.
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Legal Trust Accounting:
- Ensuring strict adherence to trust accounting rules and regulations to protect client funds.
- Segregating trust funds from the firm's operating accounts to prevent the commingling of funds.
- Providing detailed reports on trust account activities and reconciling trust balances regularly.
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Compliance and Tax Reporting:
- Complying with legal and tax obligations, including Goods and Services Tax (GST) reporting.
- Preparing and filing tax returns accurately and on time to avoid penalties and audits.
- Understanding tax deductions and credits applicable to legal practices.
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Time and Cost Management:
- Utilizing bookkeeping and accounting data to monitor billable hours and expenses for each client and matter.
- Identifying areas for cost savings and optimizing resources for improved profitability.
- Streamlining billing processes to ensure timely and accurate invoicing.
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Financial Decision-Making:
- Using accounting insights to make informed decisions about firm expansion, hiring, and resource allocation.
- Evaluating the financial viability of potential cases or clients before taking them on.
- Setting appropriate billing rates and fee structures based on financial analysis.
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Outsourcing Benefits:
- Accessing specialized accounting expertise without the need for an in-house finance team.
- Reducing the burden on lawyers, allowing them to focus on legal matters.
- Ensuring compliance with complex financial regulations through the expertise of external professionals.
Core aspects of accounting in a law firm
- Trust accounting (Accounting for money received with trust)
- Receivables accounting (tracking receivables and ensuring that receivables are timely, resulting in efficient cash flow)
- Profit sharing among partners based on generating the lead from the client
- Payables accounting that mainly comprises accounting for expenses
- Ensuring compliance with laws related to record keeping
- Branch accounting (For branches of Law firm)
- Staff cost is a major proportion of Payroll management (Complying with Payroll laws for lawyers)
- Bookkeeping services for law firms helps in expert financial assistance to help legal practices thrive.
Benefits of bookkeeping and accounting for lawyers and law firms
- Accurate recording of income and expenses provides insights into the firm’s financial health.
- Informed decision-making on budgeting, investments, and growth strategies.
- Specific tax obligations for lawyers met accurately and on time.
- Minimizing the risk of penalties or audits.
- Thorough financial records serve as evidence in case of disputes or billing discrepancies.
- Efficient resolution of financial disputes or litigation.
- Timely issuance of invoices to clients.
- Accurate tracking of outstanding payments for improved cash flow management.
- Specialists handling bookkeeping tasks allow lawyers to focus on legal matters.
- Increased billable hours and revenue by reducing administrative workload.
- Easily track profitability and assess the financial viability of cases or clients.
- Set appropriate billing rates and fee structures based on financial insights.
- Streamlined record-keeping for future financial planning and analysis.
- Easy access to financial data for strategic decision-making.
- Effective financial management leads to enhanced profitability and business growth.
- Optimizing resources and cost-saving strategies based on financial analysis.
Types of bookkeeping and accounting for lawyers and law firms
- Recording financial transactions by hand in ledgers or journals.
- Offers hands-on control over financial records but can be time-consuming and prone to errors.
- Utilizing specialized software programs for efficient record-keeping.
- Provides easier access to financial data but requires technical expertise for setup and maintenance.
- Hiring external professionals or companies to handle financial records.
- Ensures accuracy and compliance by saving your time and resources.
- Real-time accessibility and collaboration from anywhere using an internet connection.
- Offers flexibility and convenience, but reliable internet connectivity is crucial.
- Combining manual and computerized methods to suit specific needs.
- Allows for a customized approach tailored to the firm’s requirements.
- Utilizing industry-specific software designed for law firms.
- Provides features and functionalities catered to legal accounting needs.
- Integrating bookkeeping with other business processes, such as time tracking and invoicing.
- Streamlines operations and ensures data consistency across different systems.
- Utilizing remote bookkeepers who work offsite.
- Reduces the need for physical office space and offers flexibility in hiring.
How to get started with bookkeeping and accounting for a lawyer or a law firm?
How does Meru accounting help lawyers and law firms?
Embrace Meru Accounting: Streamlining Financial Processes for Lawyers and Law Firms in Australia
Meru Accounting helps in managing the accounts of a law firm. We are well equipped with accounting software ensuring smooth integration of the online website of the client with the software. We have a qualified and competent team of qualified CPAs who have years of experience in doing a tax return for lawyers. We also serve their bookkeeping and accounting requirements.
We won’t cost you too much. We charge only $US 10 per hour with 24 x7 services via mail, call, and chat. Our team has experts in QB Advisor, MYOB, and Xero Silver Champion.
Reasons for our professional help
- Change in tax laws.
- Several types of laws of the IRS
- Acquaintance with tax laws
Our tax assistance for lawyers include
- Business Tax Returns for lawyers and law firms: We offer comprehensive law firm bookkeeping services and prepare business tax returns for lawyers, law firms, attorneys, and sole proprietors. Irrespective of your location, we take care of all your state and federal tax filings.
- Individual Tax Return: You will be at peace when you leave your tax preparation and law firm bookkeeping with us. We assure your tax return is fully compliant with current regulations.
- Multi-state tax filing: Our expert team ensures the accuracy of all the multi-state tax returns filings before the due date for law firms, along with meticulous law firm bookkeeping.
- Trust, Gift, and Estate Tax Returns: We are qualified to prepare a trust, gift, and estate tax return applicable for both federal and State. We can accurately and diligently file these types of returns in time to avoid penalties while maintaining precise law firm bookkeeping.
Tax Preparation and Compliances
Tax preparation is never simple and easy, even for a lawyer. The US tax laws consist of so many layers and codes. It is so complicated that single filing requires too much clarification that can be better handled by qualified tax accountants like Meru Accounting, especially when it comes to bookkeeping for small law firms. You may miss out on credits and deductions applicable to you, costing your hard-earned money.
You may use a tax software system to assist you in tax filings, but it can never provide the insights that an accounting and tax professional specializes in, gaining after working for so many years in the legal industry.
At Meru Accounting, we have a dedicated team of tax professionals who deliver accurate and efficient preparation of all the tax returns of a law firm, multi-state taxes, and individual income tax returns of your partners, all while providing meticulous bookkeeping for small law firms.
The lawyers’ profession needs different bookkeeping for legal businesses, as it requires them to compile it for various governing bodies. Therefore, we accurately manage our clients’ accounts to help them flourish, providing top-notch legal bookkeeping services. We also help our clients with the smooth integration of their online websites with accounting software, ensuring seamless operations.
In addition, we understand the intricacies of a legal business and comprehend the importance of trust accounting for your legal business. Accounting for lawyers needs a detailed understanding of bookkeeping requirements for lawyers in complying with various governing bodies.
Hence, we at Meru Accounting work on integrating our clients’ accounting systems with their legal software. Some legal software available are Leaping their Legal software (Cloud-based, Trust accounting, providing good formats for conveyance, Will and Estate Accounting), Clio Software (Integrates with Xero, Invoicing the clients, Cloud-based platform, Case Management), and Case Fox (Web-based software, Timekeeping via SMS, Integration with Google, Trust accounting, Calendaring). We ensure that our legal bookkeeping services are tailored to meet the specific needs of legal businesses.
Conclusion
In the fast-paced world of law, keeping track of financials can often be a daunting task. That’s why accounting and bookkeeping for lawyers and law firms in Australia are essential. By outsourcing or leveraging Meru Accounting’s offshore options, legal professionals can streamline their financial processes and focus on what they do best – serving their clients. Meru Accounting offers a comprehensive range of bookkeeping and accounting services specifically tailored for lawyers and law firms.
From maintaining accurate records to ensuring compliance with regulatory requirements, Meru Accounting provides numerous benefits for legal professionals. Our bookkeeping services for law firms not only helps in managing cash flow effectively, but it also enables them to make informed business decisions based on real-time data. Getting started with Meru Accounting is simple. Assess your firm’s needs and goals, and determine which aspects you want assistance with – whether it’s basic transaction recording or more advanced financial reporting.
Hiring Virtual Accountant With Meru Accounting
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
- 1. Cost-saving
- 2. Access to skilled and experienced professionals
- 3. Better management of books of accounts
- 4. Decreased chances of errors
- 5. Improve business efficiency
- 6. De-burdens in-office employee’s dependency
- 7. Better turnaround time
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
- Cyberoam Firewall to prevent any kind of foreign threat.
- Dual-step authentication
- Implement anti-virus
- Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
- Xero
- Quickbooks
- Netsuite
- Saasu
- Wave
- Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
Our Work Information
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Bookkeeping for CPA(s)
Certified public accountants or CPAs are known as backbones of a business firm. They help a business to survive and stand in the market. They are financial experts. Their stronghold at accounting, taxation, and finance makes them feel that they don’t require any bookkeeping service to keep a check on all the updates and paperwork.
CPA(s) are very knowledgeable. But spending their time in compilation and updation of paperwork is not a part of their job. They can efficiently invest this time in looking up for new clients and strengthening of already made tie-ups with multiple business firms. CPA(s) often live under the misunderstanding that they need not hire a professional and invest extra money on bookkeeping.
This is an actual myth these days. Having a personalized bookkeeping service improvises the accountant’s productivity. Your work gets more organized and stays updated. Outsourcing accountant experts are well updated with all the latest technologies that are needed to thrive in the industry.
As an accountant, you shall have peace of mind if you know that your accounting processes are in safe hands. Your data is being accessed using the latest technologies. This becomes a major strength when your motto is to work with the maximum no. of clients.
A good bookkeeping service will know about software like Freshbooks, SageOne, Wave, Xero, Quickbooks, etc. When your accounts are with an expert, who is not just mending for paperwork, you are good to go. All these benefits prove the need for bookkeeping for a CPA’s growth and easy work processing.
The acronym CPA stands for Certified Public Accountants. A CPA is a certification issued by the American Institute of Certified Public Accountant (AICPA). A person certified as CPA acts as a financial advisor with a high degree of knowledge and experience in the field of accountancy. This certification is mostly preferred by the CA, CS, MBA Cost accountant, financial advisors for professional recognition.
CFA stands for Certified Financial Analyst certified by CFA institute whereas CPA stands for Certified Public Accountant certified by AICPA. The purpose CFA is to analyses different financial option and provides investments options to the key financial planner and upper management of investment companies, whereas CPA is trained accountant professional who assists in various accounting service and taxation. We can say CFA act as financial analyst whereas the role of the CPA is of a facilitator of the accounting process.
If an individual, business, firm, or organization needs help for the preparation of tax, they should hire a CPA. If they need assistance for financial planning and investment, then should hire a CFA.
The three E(s) of CPA are Education, Examination and Experience. These 3 E(s) are necessary to get licenses for CPA. Only passing out examination doesn’t make you eligible for a CPA license, you need to meet sufficient requirements to get a license. Contact to this site for more details https://www.aicpa.org/becomeacpa/cpaexam.html
An individual, business, or any organization needs assistance in finance, accounting and business require a CPA. A qualified CPA provides professional expertise and advice to your business.
CONTACT US FOR ANY QUESTIONS
Our Office Address
AU Office
Level 8/350 Collins Street, Melbourne VIC 3000, Australia
902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009, India
