QuickBooks for Attorneys special bookkeeping needs
4.4 (15 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
356 students enrolled

QuickBooks for Attorneys special bookkeeping needs

Using QuickBooks to address special record keeping needs that only attorneys have
4.4 (15 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
356 students enrolled
Created by Mark Smolen
Last updated 7/2018
English
English [Auto-generated]
Current price: $11.99 Original price: $19.99 Discount: 40% off
2 days left at this price!
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This course includes
  • 4 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Manage a Law firm's finances using QuickBooks
  • Keep bookkeeping records in accordance with the standards set forth by the bar association

Requirements
  • Basic computer knowledge
Description

Self employed Attorneys and law firms have unique challenges that relate to the bookkeeping and record keeping standards set forth by the bar association and other regulating authorities. 

The procedures you will learn in this course will enable you to keep records that will show you the results of your operations and be in compliance with the regulation for attorneys. You will learn: How to set up a file that is specifically designed for attorneys, how to record retainer payments from clients, how to record income earned for work done for a client, how to bill the client, how to adjust for a client who starts to pay late, calculate cost per client, calculate profit and loss by client, bill client for case related expenses and distribute cost to clients long after paying for the items or service (after the fact costing). 

I know many attorneys who use these methods. They are simple to understand and easy to do. They will defiantly work for you!!

Who this course is for:
  • Attorneys who are self employed
  • Law firms
Course content
Expand all 26 lectures 03:48:18
+ Here is everything lawyers need to comply with recored keeping regulations
13 lectures 01:43:38

This introductory lecture will give you an overview of what you will learn in this course

Preview 02:01

In this lecture, you will learn what things in a QuickBooks file are unique to Law firms or self employed attorneys 

Preview 10:44

In this video, you will learn how o record retainer payments from clients

Receiving retainer payments from clients
08:54

In this lecture, you will learn how to creat invoices and bill clients for services rendered

Invoicing a client for work done
07:12

In this lecture, you will learn how to apply payments from clients to the invoices that you billed them for

Applying retainer payments to client invoices
08:47

You will learn how to make invoices and record payments for clients who always pay after the legal services are give

Clients who pay after legal service is received
08:23

Sometimes clients that pay in advance become clients who pay after the fact (or vice versa). This video will show you how to adjust for that

Adjusting for good clients who pay late
13:14

It is very important that you are able to find out how much money you are REALLY making on each client. This video will show you how to do that

Calculating expenses and income per client
07:38

Attorneys are only allowed to bill clients for resources used for their particular case. Sometimes resources are purchased in bulk and in advance. You cannot know which client you will use them for until after you purchase them. But, you still need to track these resources per client so that you bill the client for only what was used on their own case. 

This video will show you how to do that.

Allocating cost per client "after the fact"
09:02
Billing Clients for expenses
11:40

Sometime clients move on before you can earn all the retainer that you were paid. This video lecture will show you how to issue a refund check and keep your records accurate

Giving a refund check to a client
04:03

Sometimes you will have expenses related to clients that the are obligated to pay for. If their retainer has a balance, you can apply some to that expense with a journal entry. This is NOT the best method of recording it. However, it is a method that your accountant will understand. The better way, is the following video. A journal entry will not generate a paid invoice.

Apply Client Retainers to expenses - Journal entry method
05:53
Giving a paid invoice for applying a client retainer to an expense
06:07
Quiz for QuickBooks for Attorney's Special nneds
7 questions
+ Supplementall videos - basics of QuickBooks
9 lectures 01:20:31
Create QuickBooks Company file
05:22
Preferences window and icon bar
10:48
Chart of accounts
10:48
Vendors
05:05
Items
07:14
Modify Reports
10:08
Transaction History
04:33
Apply Payments
11:23
JOB COSTING
15:10
+ Contractors and Attorneys - Time and Mileage Tracking
4 lectures 44:09
Time Slips
14:51
Time Sheets
09:45
Mileage By Client
14:55
Calculating Salary Expense By client
04:38