Law Firm Financial Solutions
“A common issue for our members is integrating the business of law into their daily practice. Law school doesn’t teach you how to build a budget or handle your firm’s finances, but those become essential skills for many attorneys. Chelsea’s CLE seminar at the CBA did a great job of breaking intimidating financial concepts into digestible pieces of information and tips that attendees could feasibly put into practice immediately. They left armed with not only knowledge but actionable steps they could take to create meaningful financial reports and make their firm more financially sound.”
— ANNE HAAG, CHICAGO BAR ASSOCIATION
One-Time Services:
Backwork
If you know your books or 3-Way IOLTA accounts are behind and you're ready to get them current and accurate so you can receive timely financial reports.
Cash Management Setup
Cash management is different from profit management. Because of this, we need a different way of managing this piece. We subscribe to the multi-bank account system similar to Profit First. Having a separate bank account for your big expenses (payroll, operating expenses, taxes) prioritizes setting aside cash that comes in for each expense to take the guesswork out of paying your team, your bills, and your taxes, and setting aside profits.
Ongoing Services:
Monthly Accounting
If you're looking for the basics, this is for you. Our monthly law firm bookkeeping keeps your books up to date and accurate while providing you with a high-level set of monthly financial reports to review and analyze.
3-Way IOLTA Reconciliation
IOLTA Reconciliation is a specialized service that focuses on ensuring the accuracy of IOLTA accounts, which hold client funds in trust for lawyers and law firms. This service performs a meticulous reconciliation process involving the comparison of bank statements, client ledgers, and the general ledger to detect any discrepancies, thus ensuring the proper management and accounting of client funds while maintaining compliance with legal and ethical requirements.
Monthly Payroll Processing
Payroll Processing is a comprehensive service that streamlines and automates the management of employee payroll, contractor payments, and deduction processes. It handles the accurate calculation and timely distribution of wages, salaries, and benefits for employees, while efficiently managing payments for independent contractors.
Fractional CFO Framework
Our Fractional CFO Program becomes your dedicated CFO team without the overhead costs. We don't teach you to be your own CFO; we handle all the strategic financial management for you. Perfect for law firms earning $1M who are tired of financial stress despite strong revenue. Through monthly CFO reviews, quarterly pivot meetings, and profit protection systems, we take complete ownership of your financial strategy so you can focus on practicing law.
Profit Ready Program
Designed for law firms under $1M who can’t afford to hire a CFO yet. Stop guessing where your money goes and build the financial systems that fuel sustainable growth. Through live masterminds, training modules, and hands-on support, you'll master cash flow, implement cash management systems, and create your $1 Million Model.
Not Sure What Your Law Firm Needs Financially?
Take our comprehensive assessment to get personalized insights into your firm's financial needs.
Take Our Quick Assessment – 9 strategic questions that provide clarity, free resources, and tailored recommendations for your next steps.
We take working with motivated law firms seriously.
Investing in your numbers is investing in yourself
Who we love working with:
Firms who want to understand and create proactivity around their finances, we’re your team
Firms that value meaningful financial reports that enable them to make informed business decisions, we’re your team
Individuals who want to expand their entrepreneurial skills and learn how to CFO in their law firm and life, we’re your team
Who we’re not a good fit for:
You get what you pay for and if you’re looking for cheap we’re not it. Bench.com or QuickBooks might work for you.
If you’re a solo who does not want to grow we’re not your best fit. See the above-suggested providers.
If you don’t intend on looking at your financial data at least monthly this is not an investment for you.
Do you know who your Key Financial Players are?
“As a new business owner, there have been many hurdles to jump and things to learn. To say my stress level was over-the-top would of been an understatement. After connecting with Chelsea Williams at Core Solutions Group my work and home life improved drastically! She has taken out all the worry and nerves I had before getting into business ownership.”
— CLIENT JASON
