INTRODUCTION
A reputable law firm engaged with Mercurius Advisory Services to manage their ongoing bookkeeping and financial operations. The firm required a reliable partner to handle critical financial tasks, maintain compliance, and ensure timely reporting, key for any trust-driven legal practice.
DISCUSSIONS
As a client-focused law firm managing multiple trust accounts, they needed a solution that ensured accuracy, transparency, and compliance. The primary goal was to streamline invoice and payment processing, maintain organized records, and facilitate smooth communication with external platforms like MetLife.
Our team, with deep industry-specific skills and experience handling trust accounting, stepped in to deliver consistent support aligned with U.S. legal bookkeeping standards.
REQUIREMENTS
The client required comprehensive support for:
• Invoice creation and management
• MetLife portal handling
• Retainer-based trust account reconciliation
• Bill recording and categorization
• Bank and credit card reconciliation
• Timely and accurate financial reporting
SOLUTION
Our dedicated point of contact ensured a smooth onboarding and seamless coordination throughout the engagement. Key actions we undertook included:
1. Invoice Management & Portal Integration:
Created client invoices in Zoho Books and uploaded them promptly to the MetLife portal, facilitating timely payment processing and improving cash flow visibility.
2. Trust Account Reconciliation:
Matched payments received in the IOLTA account against specific retainer invoices, demonstrating our industry-specific understanding of legal trust accounting standards.
3. Bill Recording & Payment Mapping:
Accurately recorded all vendor bills and matched each with corresponding payments, maintaining clear audit trails.
4. Bank & Credit Card Reconciliation:
Imported all bank and credit card transactions into Zoho Books, categorized them appropriately, and performed thorough reconciliations to align with bank statements.
5. Financial Reporting:
Delivered timely and precise financial reports, including income statements, balance sheets, general ledgers, and detailed transaction lists, helping the client stay informed and compliant.
6. Responsive Communication:
Provided proactive and clear communication via phone and email, ensuring that any issues were swiftly clarified and resolved.
Throughout the process, we maintained strict adherence to compliance norms, ensured a quick turnaround on all deliverables, and demonstrated great communication skills that earned the client’s trust and satisfaction.
CONCLUSIONS
Our accurate, timely, and client-specific bookkeeping support not only fulfilled client’s immediate needs but also built long-term trust. The client now confidently relies on us for tax return filing and has referred 3–4 new trust account clients, all of whom continue to work with us today.
This engagement reflects our strengths in delivering tailor-made solutions, backed by an in-house team of experts who bring legal industry knowledge, responsiveness, and precision to every task.
