Cashroom helps over 250 law firms throughout the UK with running their outsourced cashiering, management accounts and payroll functions. Our ILFM (Institute of Legal Finance and Management) trained team also work hard so that compliance is ensured for our clients’ businesses. We can help with SRA (Solicitors Regulation Authority), CLC, Scottish Law Society or whatever regulatory regime the law firm falls under. We take care of the regulatory regime while law firms focus on what matters most to them – the law. 

One of the many firms who have benefited from Cashroom’s determination to ensure compliance is Law Firm X. They came from a position of not being sure how to use their Practice Management System – to having fantastic feedback from the Law Society of Scotland! But how did they achieve such amazing results, and how did we assist them on their journey? 

Law Firm X approached Cashroom back in 2020.

They had serious concerns about the state of their financial records and their ability to show compliance with the Law Society of Scotland Accounts Rules. This was following a Law Society of Scotland Inspection where the inspectors shared similar concerns.  

The main cause of the issues was the migration to and the use of their Practice Management System that no one had ever used before and so there were a considerable number of errors.

Cashroom then undertook a project to correct all these records and simultaneously began transition straight into one of our cashiering teams as well as an accounting team, where we began serving the daily cashiering and bookkeeping needs.  

As well as spending significant time fully understanding how the software works, we met with the client numerous times to completely understand their needs which allowed us to design robust processes that ensured compliance with accounts rules as well as meeting those requirements. We have now been working with this client for over 2 years and the firm is doing extremely well. 

Over the last 2 years we have worked hard to continue building the relationship with our team.

We meet with the Firm X regularly to discuss the ongoing service as well as taking time to understand how their business is growing and changing and how we can assist with that. This has resulted in us being asked to take on additional services, which is a great illustration of how well the team have worked over the last 2 years given the clients hesitation to outsource at the start of the relationship. It is a huge achievement that we have managed to gain this amount of trust with the client.

Finally, the client went through a Law Society re-inspection this year…

… And we received glowing feedback from the inspectors on how we had managed to turn the records around. This is amazing news and a huge congratulations to everyone who has been involved. A happy Cashroom team, a happy Law Society and, a successful law firm client! 

Cashroom ensures that firms are compliant with Solicitors Accounts Rules and other legislations. Your firm can benefit from this, just like our client did. Why not become another Cashroom success story! 

To find out more about our services that can help your firm, please contact daniel.jones@thecashroom.co.uk or call 07949 177 952. 

About Cashroom

Cashroom provides expert outsourced accounting services for Law Firms including Legal Cashiering, Management Accounts and Payroll services. Our mission is to free lawyers from the complexities of legal accounting by supporting the industry with accurate management information and allowing lawyers to do what they do best – practice law.

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We’ve been with Cashroom for quite a few years now, and I would never go back. In any business, and particularly in times of uncertainty, it’s important to control your costs, and that’s exactly what you help me do.

Sharon Needle
Sharon Needle
Managing Partner, Needle Partners
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