Bookkeeping for Law Firms in Chicago
At Presti & Naegele, we provide accurate, dependable, and attorney-focused bookkeeping for law firms in Chicago—crafted to meet the legal industry’s exact needs. From reconciling trust accounts to tracking case expenses, our services are built to support the way Chicago law practices operate.
Whether you’re a solo attorney or part of a large firm, we simplify your bookkeeping so you can dedicate more time to your clients. Serving law firms throughout Chicago—from the Loop near the courthouses to River North and beyond—we understand the pace of the city’s legal community and deliver bookkeeping that keeps you organized and compliant.
Legal Bookkeeping in Chicago That Supports the Way Law Firms Work
Bookkeeping for law firms in Chicago isn’t just about documenting transactions—it’s about maintaining compliance, clarity, and control. At Presti & Naegele, we understand the specific bookkeeping challenges attorneys face, from managing IOLTA trust accounts to tracking contingency case costs. Our customized systems are tailored for law firms across Chicago, helping keep your practice efficient every day.
Our Chicago bookkeeping services for law firms help you:
✔ Maintain organized, reliable records for your practice
✔ Properly handle IOLTA and escrow accounts according to state rules
✔ Track reimbursable client costs and expenses with precision
✔ Keep client and firm funds fully separated
✔ Access consistent, law-firm-specific reporting
This is bookkeeping for Chicago law firms that adapts to your needs, not a one-size-fits-all approach.
Why Bookkeeping for Law Firms in Chicago
Is So Essential
For attorneys, disorganized bookkeeping creates more than inconvenience—it can lead to compliance concerns and affect client trust. Our bookkeeping for law firms in Chicago helps eliminate those risks by providing a complete, accurate view of your firm’s activity.
You benefit from:
✔ Transparency: Always know how funds are being used
✔ Compliance: Stay aligned with IOLTA and Illinois requirements
✔ Clarity: See income, expenses, and firm activity clearly
✔ Time Savings: Spend more time with clients while we manage your books
With our services, your recordkeeping stays accurate and stress-free.
Trust Accounting in Chicago You Can Count On
Trust account bookkeeping demands accuracy and strict compliance. At Presti & Naegele, we know the details of IOLTA and escrow account bookkeeping for law firms in Chicago, ensuring every requirement is handled properly.
We help you:
✔ Keep client and business funds fully separate
✔ Record deposits, disbursements, and interest precisely
✔ Reconcile IOLTA and escrow accounts regularly
✔ Report interest according to IOLTA requirements
✔ Document all transactions consistently
With our support, your Chicago trust accounting process is accurate, compliant, and dependable.
Contingency Expense Tracking in Chicago
Done Right
For Chicago law firms handling contingency cases, accurate expense tracking is critical. Because some of these costs can’t be deducted immediately, the way you categorize and record them matters.
We help you:
✔ Maintain separate records for reimbursable client costs
✔ Track essential case expenses such as filing fees, expert witnesses, and travel
✔ Keep complete documentation for every case file
Our careful approach ensures all case-related spending is logged correctly and available whenever you need it.
Choosing the Right Business Structure for Clean Bookkeeping in Chicago
Your firm’s legal structure influences how bookkeeping should be set up. Whether your Chicago practice operates as a sole proprietorship, LLC, partnership, or corporation, we guide you through the differences and keep your records clear and manageable.
We outline the impact of common structures:
✔ Sole Proprietorship – Easy to manage but tied directly to the owner
✔ Partnership – Shared ownership means shared bookkeeping responsibilities
✔ LLC – Flexible while keeping business and personal finances separate
✔ S-Corp / C-Corp – Requires more detailed reporting, with a full separation of business records
We tailor bookkeeping for law firms in Chicago to match your structure, making it easier to stay compliant and organized.
What's the Best Accounting Software for Law Firms in Chicago?
Choosing the right software is key to effective bookkeeping for law firms in Chicago. Legal practices need tools that can manage trust accounts, billing, and time tracking seamlessly.
At Presti & Naegele, we help Chicago firms set up and customize systems like QuickBooks to fit their operations. We support you with:
✔ Selecting software that meets compliance requirements
✔ Adapting the system to your firm’s workflow
✔ Linking it with case management and billing platforms
✔ Providing regular entries and support
Whether you’re launching a new practice or changing systems, we ensure your bookkeeping software is set up for success.
Long-Term Benefits of Proper Legal Bookkeeping in Chicago
Accurate bookkeeping strengthens your firm today and supports long-term stability. For law firms in Chicago, reliable records mean fewer missed obligations and greater efficiency.
Our bookkeeping systems help your firm:
✔ Stay organized and responsive
✔ Prevent missed or late payments
✔ Track where your income and expenses come from
✔ Stay prepared for year-end filings
✔ Operate stress-free with accurate, up-to-date books
With Presti & Naegele, bookkeeping for law firms in Chicago becomes a foundation your firm can depend on.
Why Law Firms in Chicago Choose Presti & Naegele
For more than 40 years, Presti & Naegele has supported attorneys and professionals with dependable bookkeeping. Our team is known for accuracy, responsiveness, and a strong understanding of legal bookkeeping for Chicago law firms.
Firms choose us because we provide:
✔ A dedicated team experienced in law firm bookkeeping and trust rules
✔ Quick, reliable communication
✔ Tailored services designed for attorneys
✔ Transparent reporting and ongoing updates
When you partner with Presti & Naegele, you gain more than bookkeeping help—you gain a trusted team that understands the high standards Chicago attorneys must meet.
FAQs: Bookkeeping for Law Firms in Chicago
What does bookkeeping for law firms involve?
Bookkeeping for law firms includes recording income and expenses, tracking case-related costs, managing trust accounts, and organizing all financial activity in a way that’s specific to legal operations. Presti & Naegele provides detailed monthly records, reconciliations, and clean reporting so your firm can operate smoothly and stay compliant.
Why is legal bookkeeping different from regular bookkeeping?
Law firms are held to higher regulatory standards when it comes to trust accounts and client funds. Bookkeeping for law firms requires precise separation of client money from business finances, detailed tracking of contingency costs, and reporting in line with legal ethics rules. Our team has specific experience in these areas and builds systems that meet those standards.
How often should I reconcile my firm’s trust account?
Trust accounts should be reconciled at least monthly, and more frequently if your firm processes a high volume of transactions. We handle these reconciliations for our clients on a regular schedule, ensuring records are accurate and nothing falls through the cracks.
Can I use regular bookkeeping software for my law firm?
While many law firms use general accounting platforms like QuickBooks, they must be configured correctly to meet legal-specific requirements. Presti & Naegele helps law firms set up and maintain software that supports proper trust accounting, expense tracking, and integration with legal practice tools.
Do you offer support for different law firm structures?
Yes. Whether you're a sole practitioner, an LLC, or part of a partnership, we help ensure your bookkeeping aligns with your structure. We guide you through setup, help you understand the reporting expectations, and maintain clean records that match your operational model.
Ready to Take the Stress Out of Bookkeeping in Chicago?
Let Presti & Naegele handle the bookkeeping—so you can focus on winning cases, serving clients, and growing your firm with confidence. Our specialized bookkeeping for law firms gives you the clarity, compliance, and peace of mind you need.
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Proudly Serving All Over The United States
For inquiries or guidance, contact Presti & Naegele Accounting and Advisories. Your success awaits!
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