The Cashroom exists to deal with the day-to-day administration of a law firm’s finance function, ensure compliance with the Solicitor’s Accounts Rules, and provide firms with management information and Management Accounts. We provide the time and the information allowing solicitors to focus on their business.
The Cashroom provides a specialist accounting service to the legal profession, comprising an outsourced legal cashiering service, and an outsourced management accounting service. We now do this for over 240 firms in the UK. Our legal cashiering service is delivered remotely by a team of qualified cashiers, working in our offices. We use our client’s own practice management system (there is no need to change the system), logging on remotely to run their cash room as if we were in the room next door.
We also provide an outsource management accounting service delivering management accounts and management information to law firms quickly and economically, often to firms who could not afford to employ a full-time accountant. More importantly, we work with clients to analyse that information, helping them understand their firm’s finances more clearly.
Lawyers are not accountants and employing, supervising, and managing a cash room, was a worrying prospect for many solicitors. Our Legal Cashiering Service takes away that worry, running and managing a firm’s cash room, on an outsourced basis, and ensuring compliance with the Accounts Rules.
And we usually do it for around two-thirds the cost of running an accounts function in-house.
The Cashroom was founded in 2008 in Scotland. Ten years on we have over 100 employees between our Skelmersdale and Livingston offices.
Two of the company directors were previously partners within legal firms, which means we have a true understanding of the needs of a business and its leaders. The Cashroom provides a specialist accounting service to the legal profession, comprising an outsourced legal cashiering service, and an outsourced management accounting service. We do this for over 200 law firms in the UK. Our cashiering service is delivered remotely by teams of qualified cashiers based in the UK.
We use each law firm’s own practice management system (there is no need to change system), logging on remotely to run their accounts as if we were in the room next door.