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 that can help remedy this … Read More
Critical QuickBooks Online Billing Challenges for Law Firms
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 also need to be mindful … Read More
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 … Read More
Critical QuickBooks Online Trust Accounting Challenges for Law Firms
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 use QuickBooks and QBO as … Read More
Tech Tip #163: Errors Are Created In QBO When Data Can’t Be Locked Down
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 data to ensure all transactions are present, you must be careful they are properly coded (including the customer), as this is not automatic or necessarily correct. To learn more about the … Read More
Tech Tip #162: Does Your Credit Card Provider Understand Legal Accounting?
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 card processing company understand that? Find a merchant that understands the unique requirements a law firm is up against. Better yet, find a legal-specific merchant that integrates with your accounting … Read More
Tech Tip #161: Put Client Funds Where They Belong
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 located in the appropriate accounts. … Read More
Tech Tip #160: Become a Modern, Mobile Attorney
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 means that it is important that your firm has not only the right tools in place but the appropriate policies and expectations so that your members can maintain a good … Read More
Tech Tip #159: Maintaining Work Life Balance in a Mobile World
With so many mobile tools available to attorneys, at times it can become difficult to maintain a healthy work-life balance. Studies have shown the importance of unplugging and disconnecting but sometimes that can be difficult for long stretches of time. When on vacations, designate a colleague to vet client-declared emergencies from actual emergencies to ensure you’re contacted only when necessary. … Read More
Attorneys Working From Anywhere: The Good, The Bad & The Ugly
A few weeks ago, we discussed the importance of mobile technology for the modern attorney. With a reported 73% of lawyers telecommuting regularly, the ability to work from anywhere is the new normal (ALA). As a software company committed to providing firms with the tools to make doing their jobs easier, we often tout the flexibility of the cloud-based versions … Read More