Law Firm Trust Bookkeeping – CNC is a Coquitlam based CPA accounting firm provides trust audits, trust accounting & bookkeeping, partnership returns and corporate income tax return services to lawyers. We provide, weekly and monthly remote bookkeeping and accounting services according to BC Society guidelines.
You’re always looking out for others, but who’s looking out for your best interests? Here at CNC, we aid in helping professionals build up their practice from a start-up to a successful business, enabling you to meet your goals. We will work together to create customized strategies in various fields, such as tax planning, fraud prevention, and practice transition, to address specific challenges and needs. With so much on your plate, you deserve to have someone who has in-depth knowledge of your business and career, with the same commitment to achieving success as you.
We will take care of the bookkeeping work so that your firm can focus on what matters – helping clients.
Offer Virtual Accounting Services Using PCLaw, Clio, CosmoLex, and QuickBooks to Law Firms Across BC.
We provide weekly bookkeeping services to law firms to meet BC Law society rules under section 3-72(1)(a), i.e., A lawyer must record each trust or general transaction promptly, and in any event not more than (a) 7 days after a trust transaction, or (b) 30 days after a general transaction. We support both PC Law and QuickBooks to maintain accounting books.
We will maintain all trust and clients’ ledgers to meet BC Law Society rules as described in sections 3-73(1) & (2). We will prepare a detailed ledger of trust liabilities and client ledgers and will reconcile them. This is one of the most reportable exceptions noted by BC Law Society in the trust audit every year.
By maintaining an AP ledger, you will be in control of your disbursements and expenses. An AP report will help you to recover your disbursement, such as BC Online, LTSA, and Dye & Durham expenses, etc.
If you are a new law firm, setting up the books is very critical to get a clear picture of your practice. We have a number of years of experience in setting up customized chart of accounts specifically designed for law firms.
We are licenced and registered with BC Law Society to perform the Trust Audit and prepare an Accountant Report C.
We help law firms to take advantage of opportunities to minimize taxes and build wealth inside the corporation. Tax planning is an ongoing process. We take a holistic approach, unlike other accounting firms, we review and take into consideration both personal and business tax affairs to minimize taxes.
