Reckon for Legal business
What Is Reckon for Legal business Accounting?
Reckon for Legal business accounting means running your law firm accounting in Reckon, with jobs, categories and custom fields for each matter, partner and fee earner. Since 2011, Cred Books has paired law firms, barristers, solicitors and legal departments across Australia and New Zealand with a Reckon Accredited Partner and a dedicated Reckon certified accountant.
We set up Reckon One, Reckon Accounts Hosted or Reckon Accounts Desktop for client trust money, client disbursements, billable hours and partner draws, then handle the daily work and every BAS lodgement. Need another sector? We can also outsource Reckon accounting services.
Mixed client money, unbilled disbursements and slow billing cycles are how law firm books break. When you outsource legal accounting services to Cred Books, we fix them at the source.
How Reckon Handles Trust Funds, Disbursements and Partner Draws
For legal trust accounting, we keep client money in segregated ledgers, reconcile trust bank statements and prepare audit proof workpapers that support law society and regulator reviews.
We connect Reckon with Clio, Actionstep, PracticePanther, LawPay, Smokeball and LEAP Legal Software, so time entries, client billing, expenses and payroll run through one workflow.
What our Reckon setup includes:
- Matter and partner profit and loss reporting inside Reckon
- Trust ledgers with three way reconciliations and client statements
- Disbursement tracking, recovery and unbilled work reports
- Integration with Clio, Actionstep, Smokeball and LEAP Legal Software
- BAS lodgement, GST and STP Phase 2 filings with audit ready workpapers
Trusted by over 1,000 clients worldwide, Cred Books delivers monthly reporting packets, profit and loss statements, cash flow projections and year end audit files.
Our Reckon Services for Legal Practices and Law Firms
Every service below runs inside your Reckon file, so trust ledgers, disbursements and fee reports stay accurate.
Matter and Partner Reporting
Jobs and categories tag fees and costs to each matter and fee earner, so partners see profitability by practice area.
Trust Account Management
Client money is held in segregated trust ledgers, reconciled daily and reported by matter for regulator reviews. This work sits within our Outsource Account Reconciliation Services for Legal Businesses.
Client Disbursements and Recoveries
Court fees, counsel fees and searches are recorded against the matter and recovered on the next invoice.
Billing and Work in Progress
Unbilled time and disbursements are reported by matter, so billing cycles shorten and write offs fall.
Partner Draws and Equity
Draws, profit shares and capital accounts are calculated and recorded for each partner. Need a full return? We offer Legal Tax Return Filing Services too.
Counsel and Supplier Payables
Counsel invoices and supplier bills are coded to the right matter, approved and paid on time.
Financial Reporting for Partners
Monthly packs show revenue by fee earner, utilisation, debtors and cash flow for partner meetings.
Payroll and STP Phase 2
Lawyers, paralegals and support staff are paid in Reckon Payroll with super and Single Touch Payroll filed on time. We also prepare management packs through our Law Firm Financial Reporting Services.
BAS and GST Compliance
GST on fees and disbursements is reconciled and each BAS lodgement is prepared and reviewed before filing. Our Legal Payroll Processing Services cover pay runs, filings and cost allocation.
Software Expertise
Cred Books vs In House Reckon Accounting: Which Suits Your Firm?
Outsourcing suits law firm partners who want dependable numbers without hiring a finance team. We also offer Offshore Legal Accounting Services.
| Factor | In house team | Cred Books (Reckon for Legal business) |
|---|---|---|
| Cost | Salary, benefits, software and training | Accounting costs reduced by 40% to 60% |
| Reckon expertise | Depends on one or two staff members | Reckon Accredited Partner and Reckon certified accountant on every account |
| Legal knowledge | Generalist staff often mix trust and operating money | Trust ledgers, disbursements and GST on fees handled to a legal checklist |
| Reporting delivery | Matter profitability reports are slow and inconsistent | Monthly firm and matter reports delivered on an agreed schedule |
| Firm growth | New partners and matters add admin and trust risk | Add fee earners and matters without adding back office headcount |
| Coverage | Business hours, with gaps during leave | Dedicated team with trained backup |
| Audit readiness | Depends on the individual | Audit ready books with documented workpapers |
Why Legal Businesses Choose Cred Books for Reckon
Cred Books has served more than 1,000 clients since 2011. These are the reasons law firms stay with us.
Reckon Accredited Partner
Every client is paired with an experienced Reckon Accredited Partner and a dedicated Reckon certified accountant who set up, review and run the Reckon file.
Legal Accounting Specialists
Our team knows trust accounting, disbursements, billing cycles and partner draws inside Reckon.
Over 15 Years of Experience
Cred Books has been operating since 2011 and has refined its legal business accounting checklists on real files across several countries.
In House Team of 100+
More than 100 in house certified accounting professionals means cover for leave, peak periods and growth. No freelancers and no handoffs to strangers.
Trust Discipline
Daily trust reconciliations and documented workpapers keep your firm ready for any trust account inspection.
Lower Accounting Costs
Clients cut back office accounting costs by 40% to 60% without lowering quality, because they pay for expertise instead of desks and recruitment.
Which Legal Businesses Benefit Most from Reckon?
These legal businesses see the biggest gains when Cred Books runs their Reckon file.
Boutique Law Firms
Clean trust ledgers and fast billing without a finance hire.
Litigation Practices
Disbursements, counsel fees and work in progress tracked by matter.
Conveyancing and Property Law
Settlement funds and deposits handled in trust with clear records.
Barristers Chambers
Fee notes, expenses and clerk fees recorded accurately.
In House Legal Teams
Matter budgets and outside counsel spend reported clearly. See our Year End Accounting Services For Legal Businesses for closing the books cleanly.
Cost Conscious Firms
Cut back office costs by 40% to 60% without lowering quality.
Our Reckon Setup Process for Legal Practices and Law Firms
A five step onboarding process that moves your firm books into Reckon without disrupting client billing.
Reckon File and Trust Review
We review your Reckon file, trust balances, open matters and unbilled disbursements.
Matters, Jobs and Accounts Setup
We set up jobs, categories, custom fields and ledger rules for each matter and fee earner.
Practice Software Integration
We connect Clio, Actionstep, Smokeball, LEAP or your practice software to feed Reckon.
Daily Bookkeeping and Reconciliations
We code transactions, reconcile trust and operating accounts and chase unmatched items.
Monthly Partner and BAS Reporting
We deliver partner packs, matter reports and your BAS lodgement.
Related Services for Legal Practices and Law Firms
Frequently Asked Questions
Which Reckon products do you support for legal businesses?
We support Reckon One, Reckon Accounts Hosted, Reckon Accounts Desktop and Reckon APS, and we recommend the one that fits your firm size and trust requirements.
How do you handle legal trust accounting in Reckon?
We keep client money in segregated ledgers, reconcile each trust account against the bank and produce client level statements that support regulator reviews.
Can you track client disbursements by matter?
Yes. We record court fees, counsel fees and searches against each matter, then include them in billing so recovery is not missed.
How are partner draws recorded?
We record draws, profit shares and capital contributions in separate partner accounts and report the balances in your monthly partner pack.
Do you integrate Reckon with Clio and LEAP?
Yes. We connect Reckon with Clio, Actionstep, PracticePanther, LawPay, Smokeball and LEAP Legal Software so billing and payment data reach the ledger cleanly.
Do you lodge BAS for law firms?
Yes. We reconcile GST on fees and disbursements, prepare the BAS lodgement and keep supporting workpapers for review.
Do you handle payroll and Single Touch Payroll for law firms?
Yes. We process pay runs in Reckon Payroll, calculate leave and super, and file Single Touch Payroll STP Phase 2 data after each pay run.
What is a Reckon Accredited Partner?
A Reckon Accredited Partner is an accounting firm or professional recognised for its training and experience with Reckon products. At Cred Books, every legal business client gets an experienced Reckon Accredited Partner, plus a dedicated Reckon certified accountant who handles the daily work.
How much can outsourcing Reckon accounting save a legal business?
Cred Books clients typically reduce back office accounting costs by 40% to 60% compared with running the same work in house. The saving comes from skipping salaries, benefits, software training and recruitment, while still getting certified accountants and a monthly review of every file.
How long does it take to move a legal business to Reckon?
Most Reckon onboarding handled by Cred Books takes between 3 and 7 business days. The timeline depends on how much history you bring across, the number of locations or entities, and how clean your existing records are.
Is Reckon or Xero better for a legal business?
Xero suits smaller practices that want a simple cloud tool. Reckon suits Australian and New Zealand firms that want strong BAS and GST handling, desktop or hosted options and matter based reporting. Cred Books supports both and can advise on the best fit.
Why choose Cred Books for Reckon for Legal business?
Cred Books has run outsourced accounting since 2011, with more than 100 in house certified accountants and over 1,000 clients worldwide. You get a named Reckon Accredited Partner, a Reckon certified accountant, a monthly senior review and legal business specific checklists rather than a generic bookkeeping service.