Attorneys specializing in commercial real estate law most likely have experienced the complexities of managing a law firm, especially the accounting end of it. In any kind of legal proceeding, whether it be a civil lawsuit or criminal case, an attorney has certain fiduciary obligations when it comes to handling the client's money or managing property the attorney has been given access to in the course of representing his or her client.
Benefits of Zola Suite for Commercial Real Estate Law Firms
Zola Suite is a high-quality software designed to connect every action of the law firm transaction, as well as break down the information silos that result from disparate practice management and accounting systems.
Zola Suite delivers an end-to-end platform, complete with all the matter-centric tools your firm may need to be more efficient, collaborative, and profitable. The billing, accounting, and reporting tools your office needs to generate invoices, process payments, balance the books, and make better data-driven decisions are offered in this platform.
Front-end office tools
Zola suite offers a variety of tools for the front-end office, including:
- Best-in-class case management
- Built-in e-mail tools
- Task Management system
- Document Management system
- Automation system
- Customer Relationship Management (CRM)
- Simplistic Timekeeping
Back-end office tools
Zola suite offers a variety of tools for the back-end office, including:
- Prebill options
- Billing and invoice tools
- Customizable commercial real estate law firm accounting system with the ability to integrate with QuickBooks
- Advanced Report options
- Custom permissions in order to access financial data
- Business intelligence and visualization
By law, an attorney has a duty to keep the client's funds and property secure and completely separated from the firm's funds and property. Attorneys are required to notify the client of the receipt of any funds or property intended for the client. If asked to do so, the attorney must provide a full accounting of all client funds or property. This is also a common process in the termination of the attorney-client relationship. Zola Suite has the functionality to help make all of these required components achievable with its cutting-edge accounting software.
With Zola Suite, you can easily keep track of and place trust or escrow money in the correct account without worrying about commingling profits with trust money. Our law firm accountants here at Fusion CPA recommend working with a seasoned commercial real estate law firm CPA to help you optimize Zola Suite for your practice. A commercial real estate law firm accounting expert should be able to assist you with implementation set up tasks such as categorizing, streamlining data from accounts, and automating essential accounting functions. When it comes to your financial accounts, Zola Suite may be able to help to get you on the right track.
If you notice poor organization and lack of execution in your accounting teams it may be time for an upgrade. We at CPA Fusion CPA understand the unique challenges of operating an efficient commercial real estate law firm bookkeeping/ accounting department. So, if you are experiencing difficulties we are here to help. We provide commercial real estate law firm accounting, bookkeeping, and CFO business advisory services. One aspect of our CFO business advisory service is extending our knowledge of high-level technical platforms like Zola Suite to help you implement new processes that work.
Whether you operate as a solo practitioner or are a partner at a firm, the chances are good that you simply don’t have time to handle the bookkeeping and accounting aspects of your practice and keep your practice running smoothly. Our team of accountants has significant experience in handling the financial affairs of a commercial real estate law firm. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.