QuickBooks is a popular accounting platform that many solo lawyers and small to medium-sized law firms use. It integrates with a wide range of Law Practice Management Software providers, and has a host of helpful add-ons to its core system. Although you can get it as a desktop or an online version, the cloud-based platform is gaining in popularity and is likely the most useful for the modern law firm.
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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 you to watch some YouTube videos.
Quickbooks is not, however, customized for lawyers or law firms. As alluded to above. Which can make it difficult to set up, and require a little extra effort around your trust accounting. Whats more, many attorneys don’t need all the features Quickbooks offers. Accordingly, these lawyers may find more benefit from a less expensive offering.
Features
Website
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quickbooks.intuit.com |
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Apps
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Starting Price
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$8/month |
Free Trial
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✓ |
Bookkeeping
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✓ |
Connect Bank Accounts
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✓ |
Billing/Invoicing
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✓ |
Online Payments
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✓ |
Timekeeping
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✓ |
Mileage Tracking
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✓ |
Bill Payment
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✓ |
Statement Reconciliation
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✓ |
Payroll
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✓ |
Tax Preparation
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✓ |
Reporting
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✓ |
Foreign Currencies
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✓ |
Check Printing
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✓ |
Contact Management
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✓ |
User Management
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✓ |
Additional Details About QuickBooks
Pricing
A plan for just about everyone. QuickBooks provides a wide range of accounting features that work for solo lawyers or medium-sized firms, alike. In order to do this, Intuit offers multiple pricing plans. Not all plans include the above features.
Security
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
Online Advanced
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.
Integrations
Quickbooks has also made its product more enticing to lawyers by integrating with products like Clio, LeanLaw, TSheets, and many popular CRM applications. These integrations can save you time and make your office more efficient.
Quickbooks is my favorite accounting software.
There’s a reason Quickbooks is the most used accounting software. It’s the best.