Are you behind with your reconciliations? Do you have additions and transactions outstanding? Need help with any variances? LFC can help you navigate the sometimes stressful world of legally compliant bookkeeping. We can Fix the Past, and Guarantee the Future with affordable Fixed Price Monthly Bookkeeping Packages to suit all firms. legalfc.uk #legal #bookkeeping #help #forlawfirms #bookkeeper #cashier #future #reconciliations #additions #transactions #variances #LEAP #Xero #Zendesk
Legal Financial Controllers | Bookkeeping | Migration | SRA Compliance | Training | Consulting
Legal Services
LEAP Partners and Xero Certified Legal Cashiers. Fix the past, Guarantee the future. 020 3161 4047.
About us
For Law Firms; Experienced and Certified Legal bookkeepers based in the UK Our Services; Outsourced SRA Compliant Legal Bookkeeping | Software & Data Migration | Consulting | Training We are; ILFM Members | LEAP Certified Partner Network | Xero Certified Partners For Law Firms; by Solicitors & Bookkeepers
- Website
-
www.legalfc.uk
External link for Legal Financial Controllers | Bookkeeping | Migration | SRA Compliance | Training | Consulting
- Industry
- Legal Services
- Company size
- 11-50 employees
- Headquarters
- City of London
- Type
- Privately Held
- Founded
- 2018
- Specialties
- bookkeeping, legal cashier, for law firms, legal bookkeeping, legal cashiering, bookkeeper, cashier, LEAP, Xero, ILFM, migrations, reconciliations, SRA compliance, SRA, and compliance
Locations
-
Primary
20 Old Bailey
(Floor 5, Orega)
City of London , EC4M 7, GB
-
1 Bradburys Court
Lyon Road
Harrow, HA1 2BY, GB
Employees at Legal Financial Controllers | Bookkeeping | Migration | SRA Compliance | Training | Consulting
Updates
-
Happy New Year 2025 from the LFC Team! As we step into 2025, we want to take a moment to thank you for your support in the past year. We’re excited to continue partnering with you as we work together to make 2025 even more successful and prosperous. At LFC, we understand that the start of the new year is a time for fresh opportunities and growth. Whether you’re looking to improve your financial processes, get your bookkeeping in order, or explore new ways to manage your business’s finances, we’re here to support you every step of the way. Wishing you a healthy, successful, and fulfilling 2025! Thank you for allowing LFC to be a part of your journey. We look forward to continuing to work together in the year ahead and helping you achieve even more success. #HappyNewYear #LFC #BusinessGrowth #2025 #FinancialSuccess #NewOpportunities #Support
-
Wishing You a Joyous Holiday Season from the LFC Team! As the year comes to an end, we want to take a moment to wish you, your family, and your team a very happy and peaceful holiday season. Whether you’re relaxing with loved ones, taking a break from work, or enjoying the festive atmosphere, we hope this time brings you the joy and relaxation you deserve. At LFC, we are deeply grateful for your support this year, and we are honoured to help you manage your finances and bookkeeping. Please remember, our team is always here for you. If you need assistance or support during the holidays, we are just a call or message away, ready to help you with any needs you may have. Take this time to unwind, enjoy the holidays, and recharge for the new year. From all of us at LFC, we wish you a wonderful holiday season and a prosperous 2024. #HappyHolidays #LFC #Support #Gratitude #NewYearWishes #SeasonsGreetings #FinancialSupport
-
6 Essential Tools to Manage Stress and Boost Productivity Managing stress effectively while staying productive is vital for success. With the right tools, you can reduce stress and streamline your workflow. Here are 6 tools that can help: 1. Task Management Tools: Use tools like Trello, Asana, and Todoist to organise tasks, set priorities, and track progress. Breaking down large projects into smaller tasks reduces mental clutter and helps you stay on top of deadlines. 2. Automation Tools: Tools like Zapier and IFTTT automate repetitive tasks such as email follow-ups or data entry, allowing you to focus on higher-value activities and reducing the time spent on mundane tasks. 3. Time-Tracking Software: Monitor your time with tools like Toggl or Clockify. Understanding how you spend your time helps you identify areas for improvement, allowing you to focus on tasks that matter most. 4. Communication and Collaboration Tools: Platforms like Slack, Microsoft Teams, and Zoom improve communication and collaboration. By centralising messages and meetings, these tools reduce the stress of disorganised communication and help teams work more efficiently. 5. Financial Management Software: Tools such as Xero, LEAP, and Clio simplify invoicing, expense tracking, and reporting, reducing financial stress and ensuring your firm’s finances stay organised. 6. Mental Wellness Apps: Apps like Headspace and Calm offer relaxation techniques to help you manage stress and improve your focus, ensuring a healthy work-life balance. Conclusion: Using these tools effectively will not only reduce stress but also boost your productivity and overall well-being. #Productivity #StressManagement #MentalWellness #WorkEfficiency #TaskManagement #Automation #TimeTracking
-
Running a law firm requires more than just legal expertise; it also involves strong financial management to ensure success and sustainability. Effective legal bookkeeping ensures your firm remains compliant, organised, and financially healthy. Here are six key tips to enhance your law firm’s bookkeeping practices: 1. Automate Routine Tasks: Automating repetitive tasks like invoicing, data entry, and financial reporting with cloud-based software (e.g., Xero, LEAP) saves your firm time and reduces the risk of human error. Automation provides a seamless way to track your financial health, ensuring all records are up-to-date in real time and reducing administrative workload. 2. Categorise Expenses Properly: Accurate categorisation of your firm’s expenses is vital for clear financial reporting. It not only ensures clarity when reviewing your finances but also simplifies tax reporting and prepares you for audits. Categorising expenses into appropriate areas (e.g., office supplies, client-related expenses, legal fees) gives you a clearer picture of where money is being spent and helps identify areas where savings can be made. 3. Monitor Cash Flow Regularly: Cash flow is critical for any business, and even small fluctuations can affect your firm’s ability to meet its obligations. Regularly monitoring cash flow allows you to identify potential liquidity issues early. Keeping track of payments and expenditures ensures that you have enough funds to cover operating costs, payroll, and taxes, preventing financial strain in times of lower revenue. 4. Update Financial Records Frequently: Updating financial records regularly helps keep everything organised and ensures accurate reports at all times. Regularly reviewing your firm’s financial data helps detect discrepancies early, making it easier to adjust and ensure everything is accurate. Consistent updates also ensure that you are always ready for audits, tax filing, and financial decision-making without scrambling for last-minute details. 5. Stay Tax Compliant: Tax regulations for law firms can be complicated, and it’s important to stay compliant with UK tax laws. Proper bookkeeping ensures that your firm meets VAT, corporation tax, and payroll obligations, while also allowing you to maximise deductions. Staying up-to-date with tax laws and having clear, accurate financial records will protect your firm from penalties and optimise your tax position. 6. Hire a Professional Legal Bookkeeper: While automation tools can assist in streamlining your bookkeeping tasks, a professional legal bookkeeper adds significant value to your firm. They can help you maintain compliance, save time, reduce errors, and provide insights into your firm’s financial health. Hiring an experienced bookkeeper allows you to focus on providing excellent legal services while knowing your finances are in capable hands.
-
In today’s competitive business world, collaboration is often the key to success. One powerful partnership lies between bookkeepers and legal business coaches. Although these professions may seem distinct, their collaboration offers immense potential for businesses looking to thrive. Here’s why they should consider teaming up: 1. Holistic Business Support: Bookkeepers provide accurate financial records, while legal business coaches guide firms through compliance, contracts, and risk management. Together, they offer businesses a complete support system that keeps them on track financially and legally. 2. Enhanced Strategic Planning: Accurate financial data from bookkeepers is essential for legal business coaches when developing realistic, achievable long-term strategies. By working together, they can analyse financial trends, assess legal risks, and create a roadmap for business success. 3. Proactive Risk Management: Bookkeepers and legal business coaches can identify and address risks, particularly those related to finances, such as payroll irregularities or tax compliance issues, before they escalate. 4. Streamlined Communication: A collaborative partnership reduces the chances of miscommunication and ensures that financial and legal strategies are aligned, offering a cohesive advisory experience for business owners. 5. Value-Added Services for Clients: By partnering, bookkeepers and legal business coaches can provide joint services such as workshops on financial and legal literacy, offering even greater value to their clients. 6. Building Trust and Long-Term Relationships: Working together builds stronger, more trusting relationships with clients. They see their advisors working collaboratively to support their business’s long-term success. The potential for collaboration is vast. By uniting, bookkeepers and legal business coaches can offer businesses a more integrated approach to managing finances and navigating the legal landscape. #LegalCashier #LegalBookkeeper #LawFirmSuccess #LegalBusinessAdviser
-
Legal bookkeeping, a vital part of law firm operations, is rapidly evolving as the legal industry adapts to technological advancements, regulatory changes, and shifting client expectations. In the UK, where regulatory compliance and financial transparency are critical, it is essential for law firms of all sizes to keep pace with these changes. Future Trends in Legal Bookkeeping: 1. Increased Automation and AI Integration: The rise of automation and artificial intelligence (AI) is transforming financial management in law firms. Routine tasks such as data entry, invoice processing, and financial reporting can now be automated. 2. Automation Tools: Automated bookkeeping software is designed to handle repetitive tasks, significantly reducing the risk of human error. This technology also frees up valuable time for more strategic financial planning. Advanced cloud-based accounting platforms are allowing for real-time data processing and seamless integration with other business systems. 3. AI and Machine Learning: AI-driven systems can process vast amounts of financial data to identify patterns, forecast future financial trends, and provide actionable insights. For example, AI can help law firms predict cash flow, detect anomalies in financial transactions, and optimise resource allocation. As these trends continue to shape the future of legal bookkeeping, law firms must stay informed and adapt to maintain their competitive edge. #LegalCashier #LegalBookkeeper #LawFirmManagement #Automation #AI #FinancialTransparency
-
Did you know? Accurate bookkeeping can significantly improve a small business’s survival rate by over 35%. Here’s why precision in financial management is crucial and how to achieve it: 1. Financial Insight: Accurate bookkeeping provides small businesses with clear insights into their financial performance, helping to identify profitable areas and potential risks. This insight supports informed decision-making and strategic planning. 2. Budget Control: With precise financial records, businesses can create and stick to realistic budgets. By tracking expenses closely, businesses can effectively manage cash flow, avoid overspending, and ensure funds are allocated wisely. 3. Tax Compliance: Maintaining organised and accurate financial records ensures compliance with tax laws and regulations. This reduces the risk of penalties or audits, while also optimising tax filings to maximise deductions and credits. 4. Investor Appeal: Reliable financial data enhances credibility and builds trust with potential investors or lenders. Accurate bookkeeping demonstrates the business’s stability, growth potential, and ability to manage finances responsibly. 5. Operational Efficiency: Streamlined bookkeeping processes automate routine tasks, minimise errors, and free up time for strategic activities. This efficiency improves overall business operations, enhances productivity, and supports sustainable growth. Empower your small business with accurate bookkeeping practices to thrive and succeed in today’s competitive landscape. #SmallBusinessGrowth #FinancialSuccess #Bookkeeping
-
Effective office expense tracking is a critical practice for law firms of any size, offering numerous benefits that impact financial performance, strategic decision-making, and compliance. Here’s why it matters: 1. Budget Management: Expense tracking provides a clear view of your financial outgoings, allowing you to stay within your budget. It enables effective resource allocation and ensures you avoid overspending in any given category, helping your firm run more efficiently. 2. Cost Control: By regularly reviewing expenses, you can identify areas where you’re overspending or opportunities for cost-cutting. Whether it’s reducing utility costs or negotiating better deals with suppliers, proper tracking helps you streamline costs and improve profitability. 3. VAT & Corporation Tax Compliance: Proper documentation of all expenses ensures that you remain compliant with VAT and corporation tax regulations. Keeping accurate records makes it easier to claim eligible deductions and ensures that you have everything in order should you face a tax audit. 4. Financial Reporting: Detailed expense tracking contributes to more accurate financial reports. This is essential for understanding your law firm’s financial health and allows you to make well-informed decisions about future investments or strategic growth opportunities. 5. Transparency & Accountability: Keeping a record of all office expenses promotes transparency and accountability within your team. Employees are more likely to be mindful of their spending when they know that expenses are being carefully tracked, fostering a culture of responsibility and financial discipline. Effective office expense tracking empowers law firms to not only control costs but also make smarter, data-driven decisions. Take charge of your firm’s financial health today! #LegalCashier #LegalBookkeeper #LawFirmManagement #ExpenseTracking #FinancialControl
-
Why does office expense tracking matter for law firms? Here’s why it’s essential: 1. Budget Management: Gain a clear view of where your money is going and stay within budget. 2. Cost Control: Identify areas to reduce expenses and negotiate better deals. 3. Tax Compliance: Ensure accurate records for VAT and corporation tax deductions. 4. Financial Reporting: Accurate tracking leads to better financial insights and decision-making. 5. Transparency: Promote accountability and mindful spending within your firm. Effective expense tracking is key to maintaining financial health and making informed decisions for your law firm’s future. #LegalCashier #LegalBookkeeper #LawFirmManagement #ExpenseTracking #FinancialHealth”