Law firms · Partner led practices
Fractional CFO for law firms
A law firm pays its people every fortnight, while its fees sit for months as unbilled time and unpaid invoices. We help partners see that lock up in dollars, set fees on each matter so the firm keeps its margin, and plan the cash for growth, new partners or a sale.
What law firm partners are deciding
Rules and rates are stated in general terms. Your legal adviser or tax adviser can confirm how they apply to your business.
How much cash the firm lends its clients
Every day of work in progress and debtors is cash the firm has earned and not yet banked, and it grows with every new matter.
Which matters and fee arrangements earn their keep
Fixed fees, capped fees and hourly billing each carry a different risk of time written off.
What the new AML/CTF duties cost to run
Since 1 July 2026 firms that provide the services AUSTRAC lists carry customer checks, reporting and a compliance program, and the time belongs in the budget.
When to bring in a partner, merge or sell
The capital gains rules for individuals, trusts and partnerships change on 1 July 2027. Your tax adviser can confirm how they apply to you.
Illustrative example · Law firm · Queensland
Thirty days off lock up, worked through for one firm
A firm bills $4,200,000 of fees a year, or $11,507 a day. Its work in progress takes 55 days to be billed and its invoices take 50 days to be paid, so 105 days of fees, $1,208,219, is earned and not yet in the bank.
Bill within 40 days and collect within 35, and lock up falls to 75 days, or $863,014. The firm releases $345,205, and if that cash is funding an overdraft at an illustrative 9 per cent, it saves $31,068 a year in interest.
105 days
Lock up today
$1,208,219
Earned and not yet banked
75 days
Lock up after
$345,205
Cash released
Lock up is measured here on annual fees, counting work in progress at the rate it will be billed. Your own figures come from your practice management system and aged debtors.
Illustrative, modelled on a law firm of this size. Not a client engagement.
Method: lock up as work in progress days plus debtor days, each worked from annual fees over 365 days; interest at an illustrative 9 per cent a year. Worked in code on 22 October 2026.
How an engagement runs
Every engagement starts with discovery and a diagnostic in the first two weeks. We get under your numbers, from work in progress, debtors and write offs by partner to payroll and the trust account timetable, and surface the issues and opportunities that matter most to a law firm.
In weeks three and four we set up clean reporting, a cash flow forecast and the rhythm of reviews. The first decisions land in the second month, in pricing, cash or cost, and from the third month we are part of how the business runs, alongside your accountant and bookkeeper. The fractional CFO service page sets out the full scope.
Tools to start with
Free tools on the ProfitPulse tools site for the questions law firm partners ask most, each with its result on screen straight away.
Reading for law firm partners
Common questions
Do you replace our accountant?
No. Your accountant keeps the tax returns, BAS, year end accounts and the advice on how profit is taxed, and your bookkeeper keeps the books. We add the forward looking work: cash forecasts, lock up and margin by partner and matter type, and the numbers behind decisions on fees, hiring, partners and a sale. We share what we find with your accountant, so everyone works from the same figures.
What does it cost?
The fractional CFO partnership starts from $3,750 a month, billed month to month with no long term lock in. When you need a figure for the business, before a sale or a handover, an indicative valuation starts from $4,500 and a comprehensive valuation from $13,500. Each of these is a starting price.
How is the fee sized?
Engagements usually stay at the starting price. Some need closer oversight or a deeper assessment, and the scope and fee rise to match. Find your fit confirms your price based on the characteristics of your business, and the pricing page explains how everything is sized.
Do you work with law firms outside Brisbane?
Yes. We work with law firms across Brisbane, the Gold Coast and the Sunshine Coast, and further afield across Australia. Most of the monthly work happens over video calls and shared reports, with visits to your office as each engagement needs, so distance changes little. The locations we serve page has the detail.
What do you need from us to start?
Read only access to your accounting software, the last two years of financial statements, a work in progress and aged debtors report from your practice management system, write offs over the last year, the partner drawings arrangements and your payroll summary. We never need access to your trust account, and client names can be coded in any report you share. A first meeting with the managing partner covers how matters are won, run and billed. Nothing needs to change in your systems before we start.
Talk it through with us
A 45 minute discovery call is complimentary. Bring your work in progress and aged debtors reports.