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....
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...
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...
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...
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...
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...
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...
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...
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,...
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...