MJWhitePLLC

New Firms

As a new firm the obvious focus is on generating cash in.  Spending any time or  money for back-office operations does not seem smart … until your seed capital starts to dwindle.  Fortunately spending a short time with us can yield great returns for start-up’s. We can show you how to easily and inexpensively move in the right direction.

Real Life Example: An attorney split off to form his own firm.  He was spending one day a week generating invoices instead of billable time.  He conservatively (50% billable) spends $4000/month on that one function.  With a 2 hour consultation we cut that time by 1/2. That solo practitioner cuts cost by $24,000 that first year alone.

Even if he actually worked 0 incremental hours she would have saved 24 work days that first year at a cost of $500 all in.  What’s your daily rate and what does it cost you to figure out how to do it on your own?

Real Life Example II: A solo practitioner was actually not keeping books in the conventional sense.  Each tax year she would total up 1099’s issued and receipts she happened to retain and give the data to a CPA to prepare the tax return.  Each year they would get the return back on time with the advice “she really should keep better records” .

We set  things up such that the clients receptionist  writes checks on the PC (faster & easier), records the firms deposits on the P.C.   And from that data we are able to run monthly P&L’s Prove out IOLTA balances, track expenditures on their clients behalf and print required 1099’s(newly complaint) for the year in less than an hour.  Simpler, Faster, Better.

Real Life Example III: Have you heard the one about the new client who had signed up for “electronic reconciliation” with their bank.  He didn’t fully understand what was happening but the computer screen told him there were no current unmatched items.  As a consequence there had not been a true reconciliation to the bank balance for two years. (Bank recons are important to help verify your income, be certain you get a deduction for expenditures and make sure there are no unauthorized withdrawals, among other things)

” Leverage Our Strengths to Focus on Yours”

www.mjwhite.pllc.com