Nexfirm

Financial Operations

NexFirm assists you in creating a financial plan, and helps you execute your plan. We manage time recording, billing, accounts payable and receivable, general ledger, periodic reporting and more.  With our expert team helping you interpret your financial results, you make quicker, smarter, and more educated decisions.

Client records:

Create and maintain a digital archive with all of your client engagement information, contact information and invoicing history.

Time Keeping:

Via email, web, handheld or paper, we store and document your team’s work effort to allow for precise and accurate billing.  After billing, we maintain data for analysis and planning.

Billing:

NexFirm creates and submits client invoices, handling all of its complexities. Our platform supports electronic, LEDES, paper and plain text invoice transmission and supports all forms of alternative billing.

Accounts Payable:

Control the flow of funds without doing the work.  Using our “double-check” system, payments are prepared and recorded by NexFirm, but only you can sign checks.

Accounts Receivable:

NexFirm creates a customized collection process for each of your clients with the objective of maximizing receivables and minimizing aging.

General Ledger:

All of your financial information recorded in a single repository, updated in real time and available for your review with monthly banking reconciliations.

Internal reporting and communication:

NexFirm conducts a monthly financial review for you so you stay close to your profitability, partner compensation, key operating metrics and forecasts for upcoming performance.   Our review includes actionable recommendations for your firm based upon our best practices, allowing you to intelligently and proactively manage your business.

Expense optimization:

NexFirm monitors your expense structure each month and makes recommendations to control costs.  Our ongoing advice will help you respond to changing conditions and control cost escalations.

External Reporting:

Our protocol enables your outside accountant to manage your tax planning on a timely basis with precision.  From payments of estimates, to preparation of filings, to planning and strategy, NexFirm provides the support your tax expert needs.

Tax payments and taxation reporting:

Under the direction of your tax expert, NexFirm makes all of your tax payments to federal, state and local authorities where applicable.

NexFirm