Featherly Services works with sole practitioners and small firms across the Greater Toronto Area and Ontario. We keep the trust side and the general side of your books separate, reconciled, and current, and we handle the firm's T2 and your personal return.
A law firm has two sets of books: its own accounts and the trust account. Trust records must reconcile monthly to the penny, and the Law Society can audit without notice. The firm's operating side still needs proper HST, T2, and owner-compensation planning.
Client funds sit in a mixed trust account kept strictly apart from the firm's operating account. We maintain trust ledgers and client sub-ledgers and reconcile them every month.
The Law Society sets record-keeping requirements for trust and general accounts. Clean, current records are the best protection if a spot audit happens.
Legal services are taxable for HST, so fees and disbursements need correct treatment on your returns, including which disbursements are taxable.
Many lawyers practise through a professional corporation. Salary, dividends, and retained earnings need to be planned alongside your personal return.
Partnership income allocation, associate compensation, and shared overhead all shape how income is reported and who owes what.
Unearned retainers are held in trust, and work in progress affects when revenue is recognized. Getting the timing right keeps your financial statements honest.
Pricing: bookkeeping from $500 a month, T2 returns from $2,000. Priced by volume and complexity, quoted after a free intro call.
Book a Free Intro CallLegal services are generally taxable, so lawyers charge HST on their fees. Disbursements can be taxable or not depending on what they are.
Monthly. The trust ledger, the client sub-ledgers, and the bank statement should all agree, and the records must be available if the Law Society asks for them.
Yes. We maintain the trust ledgers and monthly reconciliations alongside the firm's general books. Professional-conduct and licensing questions stay with your firm and the Law Society.
Yes. We are fully remote and work with lawyers across Ontario using shared QuickBooks Online access and secure document sharing.
We serve clients across the Greater Toronto Area, including Toronto, Mississauga, Markham, Vaughan, Brampton, Oakville, Hamilton, Ottawa, Oshawa, and all of Ontario. Book a free 20-minute intro call. No pressure, no sales pitch.
Book a Free Intro Call