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Quickbooks Not Managing Retainers

Tech Tip #164: QBO Won’t Manage Evergreen Retainers

Some firms make use of an evergreen retainer when – as the trust balance is reduced – the client is asked to provide additional funds to bring the retainer back to a certain level. QuickBooks Online cannot do this automatically, which means the firm must constantly run reports and correspond with the client to request funds. Find a system that allows you to automate this process. Interested in learning more about Critical QBO Trust Accounting Challenges for Law Firms? Read our latest blog post

CosmoLex Team