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....
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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...
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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...
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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...
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Quickbooks Online allows bank reconciliations at any time, but there is limited ability to lock down the data. If you are using a general accounting platform, though you can reconcile...
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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...
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It’s extremely important to understand how your credit card merchant provider handles processing fees. You know that these fees cannot be deducted from a trust account, but does your credit...
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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...
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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,...
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It is reported that 73% of attorneys telecommute regularly. This means it’s no longer some crazy idea from the future, mobile work is here and it’s here to stay. This...
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