Case Study: SKO Family Law

Start Up Firm and Law Society Compliance Inspection

From the Beginning

Since our inception in November 2008, SKO Family Law has relied on Cashroom to manage our finance function. As a startup, we needed a dependable partner who could handle the complexities of our finance function and ensure compliance. Cashroom supported us with the inception and set up of our finance function including payroll, VAT and compliance with Accounts Rules for Law Society Inspections, monthly management accounts as well as daily postings, Cashroom have been invaluable from the start. We found Cashroom to be a cost-effective solution as a startup and partnering with them saved us valuable time and freed us up from much of the daily financial administration, allowing us to focus our time on clients and continuing the growth of the firm.   

Supporting Our Growth 

Over the past decade, Cashroom has played an integral role in supporting our growth. As we have expanded, their team ensured our financial processes scaled seamlessly. Monthly management accounts provided us with critical insights, enabling informed decision-making and strategic planning. Cashroom’s expertise was clear from the start and meant we could focus on what we do best – family law – while they took care of our financial processes and management.  

Streamlining Compliance 

Compliance with regulatory standards is crucial for any legal practice. We recently had an inspection from the Law Society. The standard notification letter listed the records required for the inspection, and we turned to Cashroom for assistance. Their team promptly produced all necessary documentation well in advance. When the inspector arrived, we were able to present everything in excellent order, which significantly streamlined the inspection process. 

A Smooth Inspection Process 

Initially, the Law Society Inspection was anticipated to take a full day. However, thanks to Cashroom’s meticulous record-keeping and the ease of reporting through their client portal, the inspection was completed in half a day with no compliance issues. The inspector was impressed with our financial records and pleased to learn about our partnership with Cashroom. This efficient process not only saved us time but also reinforced our confidence in Cashroom’s services.

Unparalleled Year-Round Service 

The exceptional service provided by Cashroom is not limited to inspection times. Throughout the year, their support remains consistent and invaluable. Whether it’s handling daily postings or preparing for annual inspections, Cashroom delivers with reliability and precision. Their expertise ensures that we are always prepared, reducing stress, and allowing us to focus on our clients. It feels as though the team at Cashroom have become extended members of our team, we have regular meetings, they are always on hand for any queries we have and provide excellent support and guidance all year round.  

The Value of Expertise 

The true value of having Cashroom as our financial partner is most evident during critical times like Law Society Inspections. Their ability to manage our financial administration with such competence means we can present necessary documentation with complete confidence. The inspector’s positive response to our outsourced cashroom services underscores the high standards maintained by Cashroom. 

Looking to the future 

Our long-standing relationship with Cashroom has been marked by professionalism, reliability, and excellence. They have not only met but exceeded our expectations, providing services that are integral to our practice. The peace of mind that comes with knowing our financial administration is in expert hands allows us to focus entirely on our passion—providing exceptional family law services. We look forward to continuing our partnership with Cashroom for years to come and it is exciting to see what they will do next to enhance efficiency, compliance and streamline our accounting processes further.