Accounting Services for Legal Firms: Trust Accounting, Partner Splits, and Expense Recovery
From trust accounting and partner splits to expense recovery and compliance, we help legal practices stay financially organized and audit-ready.
Legal work is high-stakes, and your accounting has to meet that same standard. Whether you’re managing client trust funds, billing disbursements, or allocating partner profit, your books need to be precise, compliant, and tailored to your practice structure.
At Vistance Accounting, we work with law firms and legal professionals who want more than generic bookkeeping. We bring deep knowledge of legal trust rules, partnership accounting, and the financial reporting needs of growing firms.
“We’re billing clients, but I’m not sure where the money is going.”
You’re generating revenue, keeping matters moving, and trying to stay ahead of deadlines. But if you’re still using spreadsheets or general-purpose software to manage trust funds, partner splits, and expenses, things can fall through the cracks.
We help legal firms establish clear systems so they can manage trust compliance, partner compensation, and firm performance without the stress.
What Law Firms Need Our Accounting Services?
We work with law firms that are serious about staying compliant and financially organized. If you’re managing client funds, sharing revenue between partners, or growing a multi-practice firm, it’s time to go beyond basic accounting.
Our clients include solo practitioners, boutique firms, and mid-sized legal partnerships. Most are earning six to eight figures in annual revenue and need structure, clarity, and compliance at every level.
What You Get with Our Legal Firm Accounting Services
We tailor your accounting setup to match the unique needs of your practice. From small partnerships to multi-lawyer firms, we create clean, audit-ready financial systems that protect your business and support your growth. You’ll get:
- Proper trust fund accounting and reconciliations
- Monthly compliance reports for law society requirements
- Partner compensation tracking and profit splits
- Expense recovery and disbursement billing
- HST, GST, and corporate tax filing
- Monthly financial statements and forecasting
Whether you bill hourly, flat-fee, or contingency, we help you align your financial systems with your operations and risk requirements.
Why Legal Professionals Trust Vistance
We understand how legal practices operate and tailor our systems accordingly.
We manage trust funds with precision.
We ensure client trust accounts are reconciled properly and meet all regulatory requirements.
We support partner-level reporting.
We track revenue allocation, draws, and profit sharing with accuracy and transparency.
We capture billable disbursements correctly.
We ensure client expenses are recovered, not absorbed or missed.
We make law society compliance easier.
Our reporting is clean, timely, and aligned with your obligations as a licensed firm.
We explain things in plain language.
You’ll understand your financials without needing a background in accounting.
We scale with your practice.
As your firm grows, we support your changing needs without disrupting operations.
Let’s Talk
If you’re spending more time than you should trying to keep your books in order or if you’re unsure about trust compliance or partner allocations, let’s talk. We’ll review your current setup, identify gaps, and show you how Vistance can bring order and clarity to your financials.
Frequently Asked Questions
Have more questions? Here are some frequently asked questions restaurant owners ask us.
Do you manage trust accounting for law firms?
Yes. We follow law society rules for trust funds, perform monthly reconciliations, and keep your records audit-ready.
Can you handle partner compensation and draws?
Absolutely. We manage multi-partner profit allocations, capital accounts, and ensure draws and distributions are tracked clearly.
Do you support expense recovery and disbursement billing?
Yes. We help ensure reimbursable client expenses are properly recorded, invoiced, and recovered.
Do you file HST, GST, and corporate taxes?
We do. We manage all compliance, filings, and planning so your firm avoids surprises and stays current.
What if our books are behind or unclear?
No problem. We regularly onboard firms that need cleanup work and bring everything up to date quickly and professionally.
How do we get started?
Book a consultation. We’ll assess your current setup, identify gaps, and outline a plan to bring clarity and control to your financials.
