Denovo Intelligent Cashroom is a new and innovative range of cashroom management software solutions and services being offered to legal firms in Scotland. This latest service is a facility whereby a legal firm can employ the expertise of a SOLAS qualified cashier, without having to commit to their onerous employment costs.
Outsourced Cashroom Services
Does your law firm’s Cloud software provider offer an outsourced cash room service?
It is worth considering this as a viable alternative to employing in-house cashiers. The benefits are numerous, namely:-
- Reduction in costs with the only outlay being a fixed monthly charge
- No need to consider holiday or sickness/absence cover
- Removes the requirement for employing expensive SOLAS qualified staff
- No requirement to meet the costs of expensive CPD for in-house cashiers
- Removes the additional cost of National Insurance and PAYE taxation
- Outsourced cash room services can be tailored both financially and to your particular firm’s requirements no matter the type of law that your firm practices.
Save over £8,000 per cashier each year
Recent research has shown that to employ a qualified cashier the average cost is £28K per annum
At Denovo Intelligent Cashroom Services our average is £8K per annum. What do you get for this and how does it compare to the traditional internal cashier?
|Inhouse Cashier||V||Denovo Cashroom Services|
|Monthly Costs||£2,333.00||Monthly Costs||£650.00|
|Monthly NI/Tax||£303.29||Monthly NI/Tax||£0.00|
|Holidays||26 days||Holidays||0 days|
|Sick Pay||?||Sick Pay||£0.00|
|Accountants Certification||£1,000.00||Monthly Costs||£0.00|
|Annual Costs||£32,636.48||Annual Costs||£7,800.00|
|Annual Denovo Savings||£24,836.48|
Leading Cashroom Cloud For Lawyers: Glasgow, Edinburgh, Aberdeen, Scotland
Denovo Business Intelligence Limited employs SOLAS qualified accountancy personnel in Scotland that can run your firm’s legal accounts and make sure that your firm is practising within the Law Society of Scotland’s Accounting rules. This facility can be made available to you with no capital outlay other than the monthly charge for your chosen range of software and service. Working with law firms in Glasgow, Edinburgh, Aberdeen, Dundee, Inverness and elsewhere in Scotland, our cloud cashroom service can be tailored both financially and to your particular firm’s requirements no matter the type of law that your firm practices.
Intelligent Cashroom is available for you to access 24/7 and delivers to you the use of Online SOLAS trained Cashiers, without the over-head of their salary. Intelligent Cashroom will enable you to go to your own secure storage area and view online, as often as you wish, all of your daily, monthly and yearly management figures and reports.
Denovo have fully qualified staff which can undertake the following on behalf of your firm:-
- Processing of daily and monthly accounts with regard to Law Society of Scotland’s Accounts Certificate Professional Practice and Guarantee Fund Rules.
- Preparation and processing of receipts and accounting entries which are required to maintain the accounting records fully up to date e.g. Month/Year End Routines; Quarterly VAT Returns.
- Daily bank reconciliations covering firm and client accounts
- Bringing the firm’s accounts to “Trial Balance” stage and enabling production of monthly management accounts
- Delivery of multiple services such as Bank reconciliations, ledger float management, profit and loss reporting, client ledger management.
- Ability to handle private billing and Legal Aid/LAA fees across both civil and criminal (summary and solemn) case types.
- Reconciliation of SLAB and private fee payments including abated fees.
- Staff presence at your premises during Law Society of Scotland Inspections to offer guidance/reassurance and support and to ensure continuing compliance.
- Preparation of Twice Yearly Law Society Practicing Certificates.
Denovo Business Intelligence offer all of the above services, customised for your firm’s needs. Let us talk to you about converting to our Intelligent Outsourced Cashroom Service. Call us on 0141 331 5290.
Contact Denovo to discuss how we can help you take your law firm to the next level through our cashroom management solutions. Helping lawyers in Glasgow, Edinburgh, Inverness, Dundee, Aberdeen and across Scotland with our outsourced cashroom solutions, we will explain how we can help you operate more profitably – we are not an overhead, we are a profit generator.