InsightTrack Bookkeeping gives lawyers full-service monthly bookkeeping in QuickBooks Online — transaction coding, bank reconciliations, AR/AP, and monthly financial statements — on flat-rate packages starting at $300 per month. One bookkeeper on your file every month. See package pricing or book a free consultation.
Who This Is For
Trust account problems end careers, and most of them start as bookkeeping problems: a retainer deposited to operating, a client ledger that drifted from the bank balance, a fee transferred before it was earned, a reconciliation that was "basically done" but never documented. Under Arkansas Rule of Professional Conduct 1.15 — and the equivalent rule in every other state — the attorney is responsible for the records whether or not they personally keep them.
InsightTrack keeps law firm books the way the rule expects them to be kept. Client trust funds are tracked on individual client ledgers, the IOLTA account is reconciled three ways every month — bank statement, trust ledger, and the sum of client ledgers — and every fee transfer to operating is tied to an invoice for earned fees. On the operating side you get a real P&L with revenue by practice area, cost of the staff who produce it, and overhead below the line.
Designed for solo practitioners and small firms across Arkansas and remotely nationwide — family law, criminal defense, personal injury, estate planning, real estate, and general practice.
What Makes Bookkeeping for Lawyers Different
IOLTA trust accounting
Client funds are not firm funds. We keep a ledger per client, reconcile the trust bank account to the trust ledger and to the sum of client ledgers monthly, and document the reconciliation so it's ready if the Office of Professional Conduct ever asks.
Retainers and earned fees
Advance fee deposits sit in trust until earned. We record fee transfers to operating only against invoices for work performed, so no client ledger goes negative and no earned fee lingers in trust.
Client costs and advances
Filing fees, expert witnesses, medical records, and court reporters advanced on a client's behalf are tracked by client and matter, whether they come from trust or operating, so they're recovered at settlement or billed correctly.
Practice management software
Clio, MyCase, PracticePanther, and LawPay each handle trust differently. We reconcile them to QuickBooks Online and to the bank so the practice management system, the books, and the bank statement all agree.
How We Set Up Your Books
Law firm books are two sets of records that must never mix. The trust account gets its own bank account in QuickBooks Online with a client-level sub-ledger and a liability account that always equals the sum of client balances. The operating books use a professional-services chart of accounts with revenue by practice area, direct staff cost, and overhead.
- Monthly three-way trust reconciliation — bank statement, trust ledger, and client ledgers agree, with a signed reconciliation report retained
- Client ledgers — every deposit, disbursement, and fee transfer tracked by client and matter, no negative balances
- LawPay and practice management reconciled — Clio, MyCase, or PracticePanther tied to the books and the bank
- Operating P&L by practice area — revenue, staff cost, and margin for each line of work
- Partner draws and distributions — owner compensation tracked correctly for your CPA and your partnership agreement
Trust cleanup — reconstructing client ledgers and bringing reconciliations current — is quoted after a review of the file and is often the first thing we do.
The Numbers We Track for Lawyers
Every client gets a monthly P&L, balance sheet, and cash flow statement. For lawyers we also report the operating numbers that drive decisions, and can build them into a dashboard that updates as the books close.
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Trust balance by client
Every client's balance, reconciled monthly, with the sum tied to the bank. The report that answers "is the trust account right?" in one page.
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Revenue by practice area
Which kinds of matters are paying for the firm, and which are consuming staff time without paying for it.
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AR aging and unbilled work
Fees billed but unpaid, and work performed but not yet billed. Together they show how much of the firm's revenue is stuck in the pipeline.
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Overhead per attorney
Total non-producing cost divided by producing attorneys, so you know the monthly number each attorney has to clear before the firm makes money.
Serving Lawyers in Arkansas and Nationwide
InsightTrack is based in Conway, Arkansas, and works with lawyers in Little Rock, Conway, Maumelle, and across Central Arkansas, plus Fayetteville, Rogers, Bentonville, and Springdale in Northwest Arkansas.
The work is done in QuickBooks Online with documents shared through a secure portal, so location doesn't limit who we can help. We also serve lawyers in Texas and nationwide. See all locations.
Frequently Asked Questions
Do you handle IOLTA trust accounting?
Yes. We maintain a ledger for each client, reconcile the trust account three ways every month (bank statement, trust ledger, and the sum of client ledgers), and retain a documented reconciliation report. Fee transfers to operating are recorded only against invoices for earned fees.
Is this compliant with Arkansas trust accounting rules?
Our process follows the record-keeping and monthly reconciliation practices expected under Arkansas Rule of Professional Conduct 1.15 and the equivalent rules in other states. The attorney remains responsible for the trust account; our job is to make sure the records are complete, current, and reconciled.
Do you work with Clio, MyCase, or LawPay?
Yes. We reconcile your practice management and payment platforms to QuickBooks Online and to the bank so all three agree, and we manage the QuickBooks sync where one exists.
What does bookkeeping for a law firm cost?
Flat-rate packages start at $300 per month for the operating books. Trust accounting adds to the monthly scope, and a solo or small firm with trust and operating accounts would usually run $500 to $1,200 per month depending on volume. Trust cleanup is quoted separately after a review.
Do you serve law firms in Little Rock and Arkansas?
Yes. InsightTrack is based in Conway and works with solo attorneys and small firms in Little Rock, Conway, Northwest Arkansas, and statewide, plus remotely nationwide.
Get In Touch
Bring your current setup — QuickBooks file, spreadsheet, or shoebox — and we'll tell you what the monthly close would cost and what a cleanup would involve. Call (501) 697-1919 or email marcus@insighttrackbookkeeping.com.