QuickBooks for Attorneys special bookkeeping needs
- 4 hours on-demand video
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- Manage a Law firm's finances using QuickBooks
Keep bookkeeping records in accordance with the standards set forth by the bar association
- Basic computer knowledge
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!!
- Attorneys who are self employed
- Law firms
This introductory lecture will give you an overview of what you will learn in this course
In this lecture, you will learn what things in a QuickBooks file are unique to Law firms or self employed attorneys
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.
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.