QuickBooks and the Midsize Law Firm

Run A Better Business with LeanLaw, a QuickBooks Premier App

Are you worried that QuickBooks Online can’t handle your midsize law firm’s financials? With the right tools (LeanLaw and QuickBooks Online Advanced) your firm will have a complete financial operating system custom built for law firms like yours.

QuickBooks as a General Tool:

If you think of QuickBooks Online as a platform, like iTunes, where you shop around for apps for the functions and features you need, you’ll have a new perspective that you can use to your advantage. Intuit relies on best of breed apps to fill in the gaps as QuickBooks Online is not full-featured for all industries.

Intuit developed QuickBooks Online Advanced specifically targeted for midsize companies. The cherry on top: LeanLaw, the top-rated legal app in the QuickBooks Online app store, customizes QBO for law firms. LeanLaw plugs in legal-specific features to harness the power of the QuickBooks engine. With QuickBooks and LeanLaw, you can:

  • Track billable hours by client, case, or employee to dial in billable time.
  • Configure roles to delegate work to the right people.
  • Unlock data transparency so your team can make informed decisions and focus on higher value work.

This means that law firms have boutique-like software for a fraction of the cost. And LeanLaw is super simple to use with must-have law firm features.

IOLTA Trust Accounting: Just Let Me Do The Thing Right & Let Me Do It Fast

Trust accounting has historically been a double edged sword: you don’t have to chase your clients for payment, but balancing the books is a complex nightmare. Not with LeanLaw and QuickBooks.

What used to be a daunting twelve step accounting process in QuickBooks is now accomplished in just a few clicks. Use built-in trust accounting workflows to approve invoices, deposit client funds, and LeanLaw’s “Pay from Trust” feature to pay invoices easily. This is a true integration with QuickBooks instead of a sync that somebody in your law firm has to straighten out later.

Attorney Compensation: Real Time Visibility

Understanding where each attorney / timekeeper is in the middle of a project can be crucial to making sure that the law firm is on track. Instead of having to ask someone to do this for you, it’s just a matter of looking at your already set-up reports. See how much has been distributed and how much to expect in AR.

LeanLaw’s deep, real-time integration into QuickBooks Online means that you are looking at the most current and accurate data.

Get Paid Faster: Automate Your Workflows

If your time is pushed directly to your invoice and you can send the invoice electronically — you will get paid faster. And you won’t have to spend time re-explaining the charge to the client because it will be fresh in the client’s mind. If you wait over a month, the client forgets what the invoice is for. 

The QuickBooks Online Platform connects you to the Intuit Payment Network — faster and cheaper than other online payment vendors. Then, you can gather insights from your integrated payment data sets – all within LeanLaw.

There are many more features in LeanLaw that help you build a better law practice. You can check out all of our demo videos here.

 


Jonathon Fishman, two-time founder with an exit of $25 million. He has 20 years of C level experience specific to B2B focused software and solutions. He has a knack for translating and interpreting market conditions into internal and external objectives. He has developed businesses around immature markets in the areas of tele-health, educational assessment, interactive television, video game and web development and mobile technology. He’s also a crazy Lakers fan!

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