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Tech Tip #167: Prevent Client Ledger Overdrafts

QBO Client Overdraft

Over drafting a client ledger can spell major trouble for your firm. For firms using QuickBooks Online (QBO) or other general business purpose accounting software, there’s usually nothing preventing you from over-drafting the ledger. If you’re using a general accounting software, inquire how overdrafts are handled, then switch to a legal-specific solution that has safeguards in […]

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Tech Tip #166: Don’t Depend on Workarounds To Generate 3-Way Trust Reconciliations

Tech Tip QBO Challenges 3-way reconciliation

3-way reconciliation reports are the holy grail of trust accounting. Most jurisdictions mandate it. For firms using QuickBooks Online (QBO), generating a 3-way reconciliation report requires them to create workarounds. Sure, QBO can create multiple reports that show the individual balances needed to create a 3-way reconciliation report, but it cannot run a unified summary […]

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Tech Tip #165: Find an Accounting Solution With Rate Flexibility

QBO Billing Challenges

Law firms charge different rates based on several different factors. If your firm uses QuickBooks Online (QBO) or other general accounting software you may have an issue setting different rates for the same service for different clients. This results in a long list of services and difficult to manage. It is possible to find add-ons […]

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Critical QuickBooks Online Billing Challenges for Law Firms

QBO Billing Challenges

Previously we discussed the trust accounting challenges associated with attorneys using Quickbooks Online as identified by industry expert Caren Schwartz. While trust accounting is an extremely challenging area for attorneys and there are a number of challenges presented to them when using Quickbooks Online (QBO), the challenges don’t stop there. For attorneys utilizing QBO, they […]

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