As the end of the year approaches, many law firms find themselves delaying decisions on new processes until January. While waiting until the new year might seem like a logical step, this decision could actually end up costing more in both time and resources. In this post, we will explore why postponing the outsourcing of legal bookkeeping is a costly mistake and why it is in your firm’s best interest to act sooner. 

Waiting Means More Time Spent Organising Your Books 

One of the biggest challenges we see law firms face at the start of the year is getting their financial records in order. If you wait until January to outsource your legal bookkeeping, your new provider will need extra time to clean up and reconcile your accounts from the previous year. This process can be time-consuming, and the more disorganised your books are, the longer it will take to get them in a healthy state. By acting early, you can avoid this backlog and ensure your books are ready for the new year from day one. 

The Longer You Wait, the More It Costs 

Delaying the decision to outsource doesn’t just take up time—it also increases costs. The longer you let your books remain unmanaged or improperly managed, the more complex and costly it becomes to fix the problems. Whether it is reconciling accounts, cleaning up errors, or catching up on missed entries, the cost of waiting can quickly add up. On top of that, waiting until the end of the year may force you to pay rush fees for expedited services. At Cashroom, we experience a surge in demand for legal cashiering services around this time and always recommend signing up early to avoid the rush and unnecessary costs. 

Start Earning Efficiency and Accuracy Sooner 

By outsourcing your cashiering before the new year, your firm can immediately begin benefiting from the expertise and efficiency of a dedicated legal cashiering team. Signing with Cashroom means you will have access to financial insights, timely reporting, and our portal technology including integrations with leading accounting systems. Your books will be organised much sooner, allowing you to focus on more important tasks—like managing your cases and clients. Getting an early start also means your firm will hit the ground running in January, with all financial systems already in place. 

Avoid the Year-End Rush and Stress 

As the year draws to a close, many law firms scramble to close their books, reconcile accounts, and get finances in order for the end of the year. If you choose to outsource your bookkeeping early, you can avoid the year-end stress and have everything organised well in advance. This leads to smoother transitions, more accurate financial reporting, and less chaos when the new year begins. 

Best Practice: Sign Early, Be Prepared 

The best way to ensure a smooth start to the new year is to sign your outsourcing contract as early as possible. This gives your new bookkeeping partner time to assess your firm’s financial situation and start cleaning up your accounts before January. It also gives your team time to adjust to the new system and processes, ensuring that everything is in order and that work can begin immediately in the new year. Cashroom offer a full onboarding service and training for your staff, so they are confident with our portal, to minimize disruption and ensure a smooth transition from the start. 

Get Your Books in Order for the New Year 

To conclude, while it might seem like a good idea to wait until January to outsource your legal cashiering, this decision can actually lead to increased costs, more time spent organising your books, and unnecessary stress. The best practice is to sign early, so your firm can start the new year with accurate financial records and a streamlined accounting process. Don’t wait—take action now to ensure your books are in order and your firm is prepared for a successful new year. Contact our team today at info@thecashroom.co.uk or visit www.thecashroom.co.uk for more information.  

About Cashroom 

We exist to provide compliant, cost-effective outsourced finance support to law firms worldwide. Founded in 2008 we now employ around 150 people across our three locations, providing remote services to over 300 law firms of all legal work types and sizes. Our services include Legal Cashiering, Management Accounts and Credit Control. 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. 

We have a unique insight into the requirements of the legal sector, with directors who have held partnership roles within large law firms, as well as senior members of staff who have worked within finance teams in a variety of legal practices. This expertise has helped us to shape our services to meet the needs of the sector, while at the same time utilising technology to improve efficiency and security beyond the capability of many law firms.