Can I use a general accounting program like QuickBooks for Legal Trust Accounting?

CosmoLex Team

General accounting programs can be used to track trust accounts but be aware that they have three major deficits when it comes to legal trust accounting: they require significant customization, they lack necessary safeguards, and their reporting functions are inadequate.[1] Customization Client trust funds have to be recorded on your law firm’s books as a deposit into a bank account … Read More

Can I use a general account program like Quickbooks to bill legal clients?

CosmoLex Team

Even though general accounting programs such as Quickbooks were not specifically designed for legal billing, law firms can still use these programs to create legal bills that show the date, time spent, a description of services, the rate per hour, and calculate the total amount charged for each entry.[1] Some of the more sophisticated desktop accounting programs even allow employees … Read More