Starting your law firm with quickbooks online? Good. You should start your law firm with Quickbooks. Quickbooks done right.
You are asking for trouble if your books are a mess. You are risking your law license, needlessly endangering your clients, and paying the wrong amount in taxes.
You must start your books off right. Don’t put this off. Don’t think that one day you’ll organize everything. That day will never come. Don’t assume that just because you are just starting and your transactions are few and far between that you can afford putting this task off. You can’t. Click below to learn some valuable tips:
I highly recommend Quickbooks online. It is unquestionably the right platform for a small law firm or solo practice. It is worth far more than its monthly fee.
More than that, I strongly recommend working with an accountant or bookkeeper who has experience with law firms to set up your quickbooks account for your firm.
I paid my accountant a small fee to do this. She came out to the office. Explained it to me and worked on setting up things like IOLTA accounting so that all I would do is input numbers.
When something funky happens in quickbooks, I call her, she logs in, and solves the problem.
If your books are a mess your business is a mess. You’ll have no idea whether or not your are making money or where you’re losing money. Futher you will waste weeks on or before tax time trying to get your books in order. Time much better spent growing your business or helping your clients.