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Critical QuickBooks Online Trust Accounting Challenges for Law Firms

Frustrated QBO trust accounting

When it comes to accounting software, QuickBooks remains the go-to solution for many businesses. With the recent move to the cloud in the form of QuickBooks Online (QBO), more and more companies across industries are taking advantage of the program’s extensive on-demand capabilities for their business accounting needs. However, while many law firms continue to […]

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Tech Tip #161: Put Client Funds Where They Belong

Managing Client Funds

As an attorney, you’re in possession of many different types of funds. You are also often possessing the fiduciary responsibility associated with those different types of funds, even when they technically are not yours. Make sure you understand and work inside a legal accounting system that ensures settlement funds, unearned income, and advances are all […]

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The Do’s and Don’ts of Handling Client Funds

Handling Client Funds

Like any valuable asset entrusted to your care, handling client funds demands a great deal of responsibility and attention to detail. Before establishing a system to adequately manage such funds, however, your firm must first fully understand legal accounting, an element that many practices often neglect. While some attorneys may consider accounting outside their realm […]

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Tech Tip #156: Be Aware of Your Jurisdiction’s Compliance Guidelines

Jurisdiction Compliance Challenges

Depending on what state you are practicing law, your practice will be subject to different rules, regulations, and audit programs. Many CPAs and bookkeepers are unfamiliar with some of the specific accounting rules and regulations that affect attorneys. It’s up to you to make sure that your firm utilizes legal accounting solutions that take your […]

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