Top Do’s and Don'ts on IOLTA Accounts for Law Firms

The interest on a lawyer's trust account, commonly known as IOLTA, is one of the most mysterious accounts in attorney's chart accounts. Yes, we know it's a bank account; we know that there's...

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Attorney Books: Using No Status

 One of the things I love about collaborating with other accountants and bookkeepers is learning new trade tricks.

The last few weeks have been narrowly focused on how to clean up your client...

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Lawyer Bookkeeping: Unapplied Cash Payment Income/Expense


 Let me paint the picture. You are doing your accounting records for your law firm. You send the tax professionals the financial documents that they requested. The tax professional...

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Attorney Books Comparison Reports

What processes are best for the year-end cleanup of your books?  We already reviewed using the books review feature in QuickBooks, which is a great start.  This is a task I...

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Year End Processes Balance Sheet


Closing out the books for your law firm client with QuickBooks is a topic I thought would be timely to explore.

There are a few things I like to do at year-end for my clients, just to get...

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Data Migration for Law Firms


 Some data migrations are more complex than others and it’s also probably safe to say that a law firm migration will usually lean towards being at least moderately hefty, (if not...

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Selecting the Entity Type

There are several types of entities that we typically see law firms drawn into. In the US, they are taxed differently, and it is important to be aware of this when considering your law...

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Importing your Open Trust Client Liability Accounts into QuickBooks

Continuing with my series on QuickBooks Online for attorneys last week we jumped into starting a brand new file and adding a law-specific chart of accounts. This week it's all about importing a...

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Books Review Feature QBO


With so much going on for every client, it can be hard to stay on top of everything. In the past, I had a strict process that I developed to close out client files monthly. Now, we have a...

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