Retainers: Invoices vs Sales Receipts

I received a question asking, what is the difference in making an invoice and receiving payment versus making a sales receipt for a retainer. On the surface, there really isn’t a difference.  Both allow you to enter retainers so they show up correctly in QuickBooks Online. However, you may choose to do one over the […]

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Are Your Trust Accounts Accurate?

My guess is no…at least after looking at many law practice’s books, it seems almost no law firm has an accurate IOLTA balance. One of the scariest things about bookkeeping for attorneys is dealing with trust or IOLTA accounts. You start off with a small practice and you know exactly how much money each of […]

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Are you under billing your clients?

Some attorneys I have talked to mentioned the fact that they are not that great at keeping track of their hours.  You know you have worked on a client earlier in the week but you don’t know exactly how long you worked so you estimate your billable hours and to be fair to the client […]

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How to Setup Law Practice Retainers in QuickBooks Online

Have you ever tried to get law practice retainers to go correctly into QuickBooks Online?  It isn’t hard once you get it setup but it can be utterly confusing to get it setup properly.  Hi! I am Brandy Derrick with Legal Ease Bookkeeping, LLC and I specialize in bookkeeping for solo practitioners and small law […]

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