A plan for just about everyone. QuickBooks provides a wide range of accounting features that work for solo lawyers to medium-sized law firms. In order to do this, Intuit offers multiple pricing plans. Not all plans include the above features.
Client information security is a real concern for lawyers. QuickBooks, therefore, uses SSL (secure-socket layer) to ensure your data is encrypted in transit. Credit card and social security numbers are converted to tokens or encrypted. QuickBooks secures its data centers with 24/7 personnel and video surveillance and has backup generators to keep data available during power outages.
Quickbooks for the Modern Lawyer
Although Quickbooks, in general, is not specifically built with lawyers in mind, they recently released their Advanced product. This customized product addresses many of the small to medium-sized law firm’s pain points. For example, Advanced has complex billing terms, billable hours, and time-keeping abilities. Additionally, it has strong Key Performance Indicator (KPI) reporting—which is something we think every law firm needs.
Quickbooks has also made its product more enticing to lawyers by integrating with products like Clio, LeanLaw, TSheets, and many popular CRMapplications. These integrations can save time and make offices more efficient.
Who Quickbooks is For
Quickbooks can handle most accounting tasks a lawyer will throw at it. It has robust reporting capabilities, integrations with countless other software platforms, and, given it’s multiple price points, it is generally affordable. Additionally, most accountants can easily work with Quickbooks, so it may save you a lot of headache come tax time.
Lawyers who are able to take advantage of the cloud-based system’s integrations and add-ons will likely be the happiest with this product. An office could easily run their HR department (with payroll and time-sheets add-ons), create complex billing systems, take online payments from clients, and set their budgets and track expenses within the system. It just may require viewing some YouTube videos.
Quickbooks is not, however, customized for lawyers or law firms. Which can make it difficult to set up, and require a little extra effort around trust accounting. What’s more, many attorneys don’t need all the features Quickbooks offers. Accordingly, these lawyers may find more benefit from a less expensive product.