Recently on Attorney at Work, they discussed how tracking numbers can help lawyers save money and even make a profit. You can check out the article here. In short, the idea is that a lawyer needs to measure certain things in his or her practice in order to see if it is growing. These key … Read more
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 … Read more
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 … Read more