As a lawyer, you earn a healthy hourly wage. Your time is worth a lot – literally. You love the law, you love helping people, and you’re proud of the work you do.
I bet you don’t like bookkeeping as much and I’m sure you don’t make as much money doing it. Love it? I doubt it. Proud of it? Not likely.
Just like you love the law, your (future) bookkeeper loves bookkeeping. There’s an art to law firm bookkeeping, with all its trust accounting complexity, that makes it an interesting and desirable specialty for people who love to see every penny accounted for.
If you hire a bookkeeper, you will save money / earn more money than if you do it yourself.
Let’s break it down:
- Let’s say your earn $200 / hour
- You pay a bookkeeper $400 / month to do your bookkeeping — that’s 2 hours of your work.
- If you don’t hire a bookkeeper, does it only take you 2 hours? More? How many? How much time does your bookkeeping live in your head because you’re procrastinating? Does that dread make you lethargic?
- Do you get out your invoices more slowly than you would like? You know that the longer you delay the invoice, the slower you will be paid once it is received AND you’ll have to write down more of the invoice.
- How many hours do you spend getting your books ready for your accountant for tax season? (And how many hours of procrastinating dread live in your head?)
Not only will you save money, energy and time by outsourcing your bookkeeping to a bookkeeper with an expertise in law firms, you will also be… happier. This is what money is for. This is money well spent — and a tax write off, by the way.
LeanLaw works with plenty of bookkeepers and accountants who are experts in law firm accounting. We call them LeanLaw Accounting Professionals (LAPs). You can find a directory of them, here. Or, you could call us and ask for a recommendation.
Give yourself this gift during the holiday season. You deserve it.