As an attorney, your knowledge and expertise help you to guide your clients through even the most complex legal issues. Owning and operating a business demands a whole different set of skills, however, and the balance of practicing law and handling your firm’s accounting needs is delicate.

At CPN Legal, we help identify, organize, and interpret the reliable financial data and information you need to make smart decisions regarding your law firm’s growth. By leveraging the power of QuickBooks Online for law firms, we can help you take your practice to the next level. To learn more about how we can help, consider connecting with our team of experts at (513) 334-5076 today.

About CPN Legal

We are a full-service accounting and bookkeeping firm that helps law firms grow their business and sustain a competitive edge through efficient processes, strategies, and systems. Our firm was founded by entrepreneurs, for entrepreneurs. At CPN Legal, we believe that each law firm has a unique set of resources, challenges, and opportunities. We with work you to leverage your unique strengths to help your business thrive and transform your current pain points into goal-oriented solutions.

Our firm is tailored to the specific issues of your firm, and we are invested in the success of our clients. We use a holistic approach that balances all aspects of legal bookkeeping and accounting to ensure that your business is aligned with the practices you need to keep your law firm moving forward. With over a decade of experience, our team of CPAs, controllers, bookkeepers, and payroll specialists will help your law firm grow and scale.

What Is QuickBooks Online for Law Firms?

QuickBooks Online is a customizable legal accounting software that integrates with a vast range of practice management software (like Clio) to provide users with a full suite of tools to keep track of their finances. With all of the resources available in the QuickBooks ecosystem, it is clear why this accounting tool is considered a must-have for managing your firm’s financials.

QuickBooks Online Vs. QuickBooks Desktop

QuickBooks Online has several key advantages over QuickBooks Desktop when it comes to managing your law firm’s books. As a cloud-based accounting software, you can access your QuickBooks Online file from any device and collaborate with your team in real-time. Online also offers more than 650 app integration options. Compared to Desktop’s 200 app integration options, this is a notable benefit. Finally, QuickBooks Online allows you to automatically sync bank transactions and access a robust mobile app to streamline your accounting processes.

Is QuickBooks Online Really Helpful for Law Firms?

QuickBooks Online offers a greater range of on-the-go features and, depending on your unique needs, is generally considered a better overall value compared to Desktop. QuickBooks online is helpful for law firms, as long as you integrate the right add-on software. With the right strategy in place, timekeeping and invoicing happens effortlessly. What used to take days, weeks, or months now happens in the blink of an eye.

QuickBooks Online provides law firms with a variety of features to improve their financial workflow. Some of the key features of QuickBooks Online for law firms includes:

  • Attorney compensation tracking reports
  • Accounts receivable management
  • Organization of expenses
  • Tracking loans and other liabilities the firm is responsible for
  • Insights and reports
  • Free 30-day trial

QuickBooks Online is an investment into your practice, underscoring the importance of making the most out of the software to optimize your workflow. The value added by QuickBooks Online to your law firm is contingent on your integration strategy; when leveraged correctly, QuickBooks Online provides unparalleled depth, flexibility, and extensibility. To fully tap into these benefits, it is critical to properly set up QuickBooks Online and ensure ongoing microlearning to stay up to date on new features of the platform.

How Can My Firm Setup QuickBooks Online?

With so many online tutorials and guides for setting up QuickBooks Online for law firms, it can be difficult to sort through the knowledge and determine what approach is right for your law firm. Truthfully, there is no one-size-fits-all solution.

The way you set up QuickBooks Online and integrate the software into your practice will depend entirely on your current processes, your financial goals, and your unique business metrics. When setting up QuickBooks Online, it can be helpful to:

  • Familiarize yourself with the QuickBooks dashboard
  • Account for your financial preferences in the sales, expenses, and advanced tabs
  • Carefully import your business data
  • Customize your Chart of Accounts
  • Connect your apps
  • Reconcile at regular intervals

Our team of accounting and bookkeeping experts is adept at handling QuickBooks Online setup, implementation, and training. We offer customized solutions to meet your needs and ensure that you and your team are comfortable using QuickBooks Online for managing your firm’s accounting. When you partner with CPN Legal, you can spend less time on your books and more time driving growth.

Can CPN Legal Help My Firm Migrate from QuickBooks Desktop to QuickBooks Online?

Converting your accounting system can be daunting, and many law firms approach us with concerns regarding how to migrate from QuickBooks Desktop safely and securely to QuickBooks Online. Working with CPN Legal, you will have a dedicated conversion specialist who will evaluate your situation, identify which QuickBooks services you will need, and work alongside you to craft a tailored conversion plan.

Your team of consultants will spend time getting to know your law firm and your current accounting system. We will then take the steps necessary to develop the right workflows that will make your QuickBooks Online system fit like a glove. Once your system is up and running, we will ensure that your team is familiar with the new features. Finally, we will facilitate ongoing communication to help you stay on track.

Get in Touch with Us

At CPN Legal, our team of experts will create an accounting plan based on your business operations and the needs of your firm. We develop a scalable strategy to optimize your accounting systems, improve your processes, and gain efficiencies throughout your practice.

Through proactive problem-solving and regular communication with your team, you can expect comprehensive support and ongoing engagement with our experts. To learn how we can maximize the strength of your business using QuickBooks Online for law firms, consider contacting us at (513) 334-5076 today.