Financial Director Outsourcing Services

Now more than ever banks and other financial institutions are scrutinising law firms’ finances and risk management procedures much more closely with regular stringent ongoing reporting requirements a prerequisite for any funding arrangements.

The financial health of your organisation is absolutely fundamental especially in uncertain economic times and identifying any sudden changes early on can make a significant difference to your ultimate survival.

For all our clients we undertake the following annual exercise:

• Prepare cashflow, profit & loss and balance sheet forecasts
• Prepare and set profit & loss and balance sheet budget 
• Set fee earner and departmental targets

After posting pre-payments and accruals, we then carefully monitor, report and review on a monthly basis financial forecasts, budgets and targets to readily identify and address any issues by offering guidance before they escalate.

We also offer the following additional services if required:

• Arrange bank funding through our extensive database of bank contacts
• Liaise with your bankers on an ongoing basis
• Arrange alternative finance
• Expense reduction analysis and implementation
• Review your debtors, offer guidance and prepare write offs where applicable
• Ledger & file closures including problematic files
• Credit control
• Profit share calculations
• Compilation of tax return information
• Data import
• Full computerised data transfer
• Non legal accounting services