Offering WIP Accounting Services for Law Firms in the Tampa Bay Area
Whether you’re handling two or two hundred cases at a time, keeping track of money on work-in-progress (WIP) accounts can feel like an overwhelming task. On top of this, poor WIP accounting practices can result in malpractice charges, making it more important than ever to turn to the professionals for legal bookkeeping services. Enter A&W Associates. For more than a decade, we’ve served attorneys in Wesley Chapel, Florida, and throughout the Tampa Bay area by keeping track of client money as it moves through firms. We’d be happy to provide you with the financial resources necessary to ensure your practice thrives.
Keeping Billing Simple for WIP Accounts
In theory, WIP accounting is simple: you keep track of the time you spend on a client’s account, bill the client appropriately, and get paid in a timely manner. However, any experienced attorney will tell you that the process is rarely that straightforward. In fact, many attorneys find it difficult to collect payments and will simply move on to other clients or cases after a certain amount of time has passed.
When you partner with A&W Associates for legal bookkeeping services, we’ll take care of the WIP accounting and bookkeeping work for you. Our team will:
- Keep accurate records of the hours you spend on each client account
- Track each client’s receivable balances, recent payments, and funds held in trust
- Invoice clients to ensure payment is received in a timely manner
Additionally, since we don’t require a lengthy onboarding process, like a new hire, our team can start providing you with actionable results right away. We’ll collect pertinent information from your firm and compile it into detailed, accurate, and easy-to-access records that you can review when planning your budget or pass along to your CPA during tax season.
Don’t let complicated WIP accounting keep your law firm from thriving. Contact A&W Associates today to learn more about the legal bookkeeping services we offer to firms in Wesley Chapel, FL, and throughout the Tampa Bay area.
