Vancouver’s Clio has added accounting to its suite of fintech offerings.
Building on the success of Clio Payments, Clio is expanding its financial management offerings to provide a comprehensive, compliant platform tailored specifically to the needs of legal professionals.
A lawyer’s main focus is practicing law, yet almost two-thirds of their day is devoted to non-billable tasks, including accounting.
Despite its importance for business success, many law firms find accounting daunting, which can lead to increased errors. Now, with Clio Accounting, lawyers can record, manage, and analyze every financial transaction related to running one’s firm all in one place.
Clio Accounting is designed to address the unique financial needs of law firms with features like automated transaction matching, legal-specific reporting and tracking, three-way reconciliation, and more.
The launch of Clio Accounting marks a strategic move by Clio to meet the specific financial management needs within the legal sector and further enhance the expansion of Clio’s fintech services.
“As law firms navigate the complexities of trust accounting and compliance, the need for a specialized solution has never been greater,” states Hemant Kashyap, Chief Product Officer at Clio.
“With Clio prioritizing trust accounting compliance, legal professionals can manage their finances with ease and confidence, while remaining focused on the practice of law.”
To make this solution more accessible, Clio is offering one free Clio Accounting license with every subscription that gives a firm’s accountant or bookkeeper access to their account. This ensures that firms can support effective collaboration with their financial partners without any added cost.
Leave a Reply