Running a successful law firm requires constant judgment calls; balancing legal work, client demands, people management and long-term growth. Too often, those decisions are made without clear, reliable financial insight, leaving firm leaders frustrated by complex reports, inconsistent profitability and disconnected systems.
Our expertise exists to change that.
At FWO, our advisory work is grounded in strong technical capability across accounting, taxation and financial strategy, powered by MiNumbers; our integrated financial reporting platform. Together, this enables us to move beyond reporting and provide insight into what your numbers are telling you, why performance is changing, and where attention is required.
This depth of expertise, combined with MiNumbers, underpins our insight-led approach and allows us to guide law firm leaders with clarity and confidence.
Profitability and cashflow are at the heart of every law firm’s success. Our expertise in this area focuses on helping firm leaders understand performance drivers, anticipate pressure points and act with confidence.
Using MiNumbers alongside our advisory support, we help firms:
This expertise is central to our Grow Your Firm offering, delivered through Clarity, Insights and Insights Plus. It is how we help firms move from reactive reporting to proactive financial management.
Managing tax, accounting and compliance is a necessary discipline for every law firm. Our law firm accounting expertise helps you structure your tax effectively and stay on top of compliance, so you can focus on running your practice.
We handle the full scope of tax compliance for law firms, including income tax, CGT, FBT, BAS and IAS lodgements, and payroll tax. Our fixed-fee annual accounting package is paid monthly to smooth out your cash flow. We also offer unlimited meetings and calls so you can always contact us whenever you need to.
Our tax and compliance expertise covers:
Succession planning is one of the most complex challenges law firms face. Our expertise combines financial insight, structure and objectivity to help firm leaders plan for continuity, transition and long-term value.
Whether you are preparing for a partner exit, admitting a new principal, or planning a staged transition, we provide the financial modelling, valuation guidance and CGT planning that gives you confidence in the path forward.
With consistent financial visibility through MiNumbers, we support clearer conversations around valuation, ownership structures and future planning, reducing uncertainty and supporting informed decisions.
The right structure makes a material difference to how a law firm operates, distributes profit and manages tax. We advise on company, trust, partnership and Incorporated Legal Practice (ILP) structures tailored specifically to legal practices.
Whether you are setting up a new firm, restructuring an existing practice, or evaluating the move from partnership to ILP, our accountants for lawyers will guide you to the structure that best serves your firm’s financial and operational goals.
Strong firm performance should translate into personal confidence for its leaders. Our expertise in superannuation, investment and insurance helps principals balance risk, reward and long-term security.
By integrating personal and business financial insight, we ensure strategies align with both professional objectives and life goals, supporting confident planning beyond day-to-day operations.
LICENSEE contact details can be found in the FSG.
Complaints handling: If you have a concern or complaint which relates to our Financial Services, please refer to our Complaints Handling Information Sheet, which explains our process for handling your complaint.
Disclaimer: This landing page has been prepared for general information and does not take into account the objectives, financial situation and particular needs of any particular person. The information provided in this section is general in nature and does not constitute personal financial advice. Please consult a qualified adviser before making decisions based on this content.
Visitors of this landing page should seek professional advice to confirm that the products or strategies mentioned are appropriate in the light of their particular needs, objectives and financial circumstances prior to acting upon any information contained on the landing page.
FWO works with SME law firms across Brisbane, Queensland and Australia wide. Our clients are typically firms with one to four principals and 10 to 50 staff, though we work with sole practitioners through to mid-sized firms.
Our accounting for law firms is right for you if:
They’ve done far more than keep the books. They’ve kept us accountable, pushed our thinking, and guided our decisions with clear, commercial advice.
FWO know law firms inside out, and when they tell you what to do, you listen.
STEPHEN PYMAN | CDI LAWYERS, BRISBANE
“Matt and the team at FWO are more than accountants. They’re strategic financial partners who genuinely understand the legal industry. They’ve helped us clarify our purpose, improve productivity, and navigate leadership change with confidence. I wouldn’t go anywhere else.”
NICOLE SHENFIELD | PAXTON HALL LAWYERS, BRISBANE
“FWO has helped us increase income and profitability by at least 25% in two years – without adding to our expenses. Their advice is practical, proactive, and perfectly aligned to the legal industry. FWO gave us the confidence to make hard decisions and has played a significant role in transforming our performance.”
GREG DICKSON | WMD LAW, SYDNEY
Accounting for law firms covers everything from tax compliance (income tax, CGT, FBT, BAS) and business structuring through to strategic financial advisory, WIP analysis, cash flow forecasting and succession planning. At FWO, we also provide structured performance reporting through MiNumbers and ongoing advisory through the Grow Your Firm program.
Law firms have unique financial requirements: Work in Progress (WIP) tracking, partner equity and distribution structures, and practice-specific KPIs like billing efficiency and average rate per hour. Generalist accountants rarely have experience with these areas, which means firms miss opportunities to improve profitability and cash flow.
A specialist understands the financial mechanics of legal practices. They know what lock-up percentage means for your cash flow, how to structure partner distributions fairly, and which metrics actually drive performance. The difference is not just in compliance. It is in the advisory layer: knowing what your numbers mean and what to do about them.
FWO works with all major accounting and practice management platforms, including Xero, MYOB, QuickBooks, Smokeball and Actionstep. MiNumbers integrates directly with Smokeball and Actionstep, however we support clients on any practice management system.
Yes. Our annual accounting package is a fixed fee, paid monthly to smooth out your cash flow. It includes unlimited meetings and calls so you always have access to your advisory team when you need them.
If you’d like to explore how insight-led financial guidance, powered by MiNumbers, could help you make more confident decisions, we’d welcome a conversation.
