Posts Tagged: ‘Outsource Cashroom’

Outsourcing your Cashroom – 4 of 4

June 28, 2013 Posted by Lynne Moffatt

Outsourcing seems to be a hot topic with Scottish legal firms, and The Law Society of Scotland.  The following series of articles outlines points for consideration if you are thinking of outsourcing your cashroom.

  1. Could outsourcing your legal cashroom be the answer?
  2. Outsourced Cashroom – How can it work?
  3. Outsourced Cashroom – What to Expect
  4. Outsourced Cashroom – What not to Expect

 

Outsourcing your Cashroom
Part 4 of 4 – Outsourced Cashroom – What not to Expect

Whilst an outsourced cashroom will have many benefits, it will not completely remove your responsibility as Cashroom Manager (prev called Designated Cashroom Partner) of your legal firm, these responsibilities come as standard.

Pin the tail on the Solution

When outsourcing your cashroom function you should NOT expect:-

  • to be immune to Law Society audits, but we will make these as painless as possible
  • that we will manage your staff – however, we will help them as much as we can
  • to have to manage us, as you would an employee
  • to pay employer’s NIC, SSP, SMP, SSP, SAP – no incidental employer expenses that add up
  • to shell out for computer or office equipment that would be necessary if you had a cashier in-house
  • procedures to stagnate – if it can be made simpler and/or quicker, we will offer suggestions
  • to ever want to change back to a full-time in-house cashier!

Once you have tested how an outsourced, or virtual, cashroom can work – we don’t expect you to ever want to go back to having a full-time in-house cashier ever. Of course, life changes and firm’s change so if you do feel that you need an in-house cashier again – we will also make that transition as painless as possible. We can provide training and support at that stage, if  needed.

Could a virtual cashroom be YOUR solution?

Outsourcing your Cashroom – 3 of 4

June 25, 2013 Posted by Lynne Moffatt

Outsourcing seems to be a hot topic with Scottish legal firms, and The Law Society of Scotland.  The following series of articles outlines points for consideration if you are thinking of outsourcing your cashroom.

  1. Could outsourcing your legal cashroom be the answer?
  2. Outsourced Cashroom – How can it work?
  3. Outsourced Cashroom – What to Expect
  4. Outsourced Cashroom – What not to Expect

 

Outsourcing your Cashroom
Part 3 of 4 – Outsourced Cashroom – What to Expect

An outsourced cashroom can greatly reduce your stress levels and concerns when it comes to your Cashroom and The Law Society of Scotland’s Accounts Rules.

If you follow your initial training, you can expect:-Outsourcing Benefits

  • your outsourced cashroom to run smoothly and exceptionally easily
  • your costs to be lower than paying a Cashier’s salary – less than half is what we aim for
  • firm financial reports as often as you require, and in a format that you can easily read
  • information on any updated accounts rules or suggested ‘good practice’ guidelines
  • your Law Society accounts inspections to run like clockwork
  • suggestions to further streamline your accounts procedures
  • a helpful, straight-forward attitude to dealing with your accounts and book-keeping requirements
  • to benefit from a network of firm’s who, just like you, have outsourced their legal cashroom

Are YOU ready to benefit?

Outsourcing your Cashroom – 2 of 4

June 11, 2013 Posted by Lynne Moffatt

Outsourcing seems to be a hot topic with Scottish legal firms, and The Law Society of Scotland.  The following series of articles outlines points for consideration if you are thinking of outsourcing your cashroom.

  1. Could outsourcing your legal cashroom be the answer?
  2. Outsourced Cashroom – How can it work?
  3. Outsourced Cashroom – What to Expect
  4. Outsourced Cashroom – What not to Expect

 

Outsourcing your Cashroom
Part 2 of 4 – Outsourced Cashroom – How can it work?

Whether outsourcing is for your firm or not depends on your needs, but I have not met a situation yet that cannot be accommodated using an outsourced cashroom solution.

  1. We run the accounts software for you, so you don’t need to pay for it each year – CHECKCHECK
  2. Banking systems (online) – CHECK
  3. Internet connection – CHECK
  4. Easy access to firm’s financial information – CHECK
  5. Easy access to client’s ledger information – CHECK

1 + 2 + 3 + 4 + 5 = OUTSOURCE YOUR CASHROOM

You will need someone at your end to pay cheques in, send cheques out and send us information. This can be a secretary, receptionist, junior member of staff or YOU if you prefer to work alone! Full training for the minimum of procedures will be provided.  The rest you can leave to us. We will keep you on the right track, run the rest of your cashroom requirements (including The Accounts Rules) and provide you with the information you need to run your business.

If IT scares you – don’t worry, we LOVE IT!  We have created systems that are easy to learn and use, so deployment is quick and there is little time spent on the crossover to a new system.

Outsourcing your Cashroom

June 4, 2013 Posted by Lynne Moffatt

Outsourcing seems to be a hot topic with Scottish legal firms, and The Law Society of Scotland.  The following series of articles outlines points for consideration if you are thinking of outsourcing your cashroom.

  1. Could outsourcing your legal cashroom be the answer?
  2. Outsourced Cashroom – How can it work?
  3. Outsourced Cashroom – What to Expect
  4. Outsourced Cashroom – What not to Expect

 

Outsourcing your Cashroom
Part 1 of 4 – Could outsourcing your legal cashroom be the answer?

If outsourcing your cashroom is the answer, what is the question?

> My cashier is retiring soon, how will I replace her/him?
It is extremely difficult, nigh on impossible, to find a reliable legal cashier who aces accountancy and the accounts rules.

> My paralegal is also my cashier, we could take on more legal work – but where will we find the time?
You could increase your turnover, but cannot find the time out from other duties.

> If fear of running my own accounts did not stop me from opening my own law firm, how successful could I be?
You aspire to run your own successful law firm, but do not know where to start with Accounts Rules compliance and systems.

> I am out of the office a LOT, how can I have access to my firm’s financial information wherever I am?
By taking advantage of industry-leading software – you WILL have access to the information you need, wherever you are.

The answer? – OUTSOURCE YOUR CASHROOM!