Accounting for Lawyers & Law Firms
Trusted Accountants, Tax Agents & Trust Auditors
Legal professionals face complex and unique financial requirements — from managing client trust accounts to structuring law firm profits, ensuring regulatory compliance, and meeting ATO deadlines. Whether you’re a sole legal practitioner or managing a multi-partner firm, getting your accounting right is essential.
At Bottrell Accountants & Tax Agents, we’ve supported law firms across NSW for over two decades. Our experienced team understands legal-specific accounting requirements and offers tailored services for solicitors, barristers, partnerships, and in-house legal teams. We help you stay compliant with both the ATO and your professional legal body, while building stronger financial systems to grow your practice.
Who We Support
We work with legal professionals at every stage, including:
- Sole practitioners and barristers working under their own ABN
- Small to medium legal practices with staff and overheads
- Multi-partner law firms with complex profit structures
- Legal consultants or contractors with multiple income sources
- In-house legal departments seeking external financial expertise
From criminal and family law to conveyancing and commercial practice — we adapt our accounting support to suit your firm’s structure and workflow.
Challenges in Legal Accounting
Lawyers face strict reporting and auditing requirements that general accountants may not be equipped to handle. Legal practice accounting involves a greater level of compliance, especially when managing client monies.
Common pain points include:
- Managing trust account compliance in line with the Legal Profession Uniform Law
- Completing and lodging Law Society trust account audit reports on time
- Tracking and reconciling disbursements and reimbursements across client matters
- Structuring income for partners vs employees
- Navigating tax complexities of multi-partner firms
- Keeping up with payroll, GST, BAS, PAYG and superannuation obligations
- Managing software integration across accounting and legal management platforms (e.g. LEAP, Xero, MYOB)
Our Specialist Accounting Services for Lawyers
We provide a full-service accounting and advisory suite tailored specifically to legal professionals and law firms.
Trust Account Audits
We are registered trust auditors, qualified to complete your firm’s annual trust account audit. Our audit process ensures:
- Compliance with Legal Profession Uniform General Rules (NSW)
- Timely audit reporting to the Law Society
- Identification and rectification of any breaches
- Ongoing advisory support on trust account procedures and controls
We understand that your firm’s reputation and practising certificate depend on compliant trust operations — and we treat this responsibility with the highest importance.
Accounting for Legal Practices
We provide legal-specific accounting solutions that cover your day-to-day financial management as well as long-term strategy:
- Chart of accounts setup customised for legal matters
- Matter-based accounting support aligned with billing systems
- Annual financial statements, profit & loss, and balance sheet
- EOFY preparation and ATO lodgements (company, partnership, trust, sole trader)
- Partner drawings, distributions and income tax planning
- Cash flow management, budgeting, and forecasting
Legal Bookkeeping Services
We offer expert bookkeeping solutions specifically for law firms. Whether you need support weekly, monthly or quarterly — we ensure your financial records are always up to date.
Our bookkeeping covers:
- Trust and office account reconciliation
- Processing legal disbursements
- Capturing time-based billing entries
- Reimbursable expense tracking
- Software setup and integration (Xero, MYOB, LEAP)
Business Tax & Compliance
- Preparation and lodgement of all tax returns: company, trust, partnership, or sole trader
- ATO correspondence and compliance management
- Fringe Benefits Tax (FBT), payroll tax and WorkCover reporting
- Business Activity Statements (BAS/IAS)
- Lodgement extensions and planning under the tax agent system
We also work closely with you to proactively identify risks and opportunities to reduce your tax liability without compromising compliance.
Strategic Planning & Business Advisory
We help legal professionals structure and grow their practices through:
- Legal business setup and structuring (company, trust, partnership)
- Succession planning for practice transitions or retirement
- New partner onboarding and equity restructuring
- Profit-sharing models and tax-effective distributions
- Financial benchmarking and performance analysis
Software Support for Law Firms
We understand the software ecosystem used in modern legal practices. Our accountants and bookkeepers are trained across:
- LEAP Legal Software (trust account management, billing, matters)
- Xero, MYOB & QuickBooks (financials and payroll)
- Clio, Smokeball, Actionstep, and other PMS platforms
We can help with integration, automation and training to streamline your reporting and billing workflows.
Why Choose Bottrell Accountants for Your Legal Practice?
Specialist legal accounting knowledge
20+ years of experience with lawyers & solicitors
Registered Trust Account Auditors in NSW
Fully qualified Chartered Accountants & Tax Agents
Industry-specific cloud bookkeeping support
Local offices in Newcastle, East Maitland & Chatswood
Fixed fee packages available
Our Maitland Office
– Visit Us
Bottrell Accountants, Tax Agents & Financial Planners – Maitland:
- Office: 93 Lawes St, East Maitland, NSW, 2323
- Phone: (02) 4933 6888
- Email: maitland@bottrellaccounting.com.au
- Hours: Monday–Friday 7:30am–5:30pm | Saturday 9am–2pm
Maitland Location
Our Newcastle Office
– Visit Us
Bottrell Accountants, Tax Agents & Financial Planners – Maitland:
- Office: 45 Hunter Street, Newcastle NSW 2300
- Phone: 0249336888
- Email: newcastle@bottrellaccounting.com.au
- Hours: Monday–Friday 7:30am–5:30pm | Saturday 9am–2pm
Newcastle Location
Our Chatswood Office
– (By Appointment)
Bottrell Accountants, Tax Agents & Financial Planners – Maitland:
- Office: Tower A, Level 20, 821 Pacific Highway, Chatswood NSW 2067
- Phone: 0249336888
- Email: chatswood@bottrellaccounting.com.au
Chatswood Location
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Book a Consultation Today
Whether you’re setting up a new law practice, needing trust account audit support, or looking for a more specialised accounting solution — we’re here to help.
Or call our team on (02) 4933 6888
