This video on QuickBooks for Lawyers and Trust Accounting for Law Firm or Attorney shows you how to set up a chart of accounts for your law firm and client trust funds.

Here, we look at the following course outline:

1. Set up charts of accounts for law firms and trust funds.

2. Add clients and receivables.

3. Add a bank account for operations and a dedicated account for client trust funds.

4. Set up a trust account for each client and interest earned on the account.

5. Add vendors and their payable balances.

6. Set up divisions or categorize your law firm - corporate law, property law, criminal law, constitutional law, intellectual property law, oil, and gas, etc.

7. Track revenue from legal fees or professional charges.

8. Create invoices for professional services, receive payment, and record deposits.

9. Record inflows to the trust account and tie them to the client records.

10. Liquidate client trust account; part of full payments on request.

11. Direct cost; acquisition of legal materials and construction of a legal library, court-related expenses, transport, etc

12. Track billable expenses charged to the clients.

13. Record business expenses.

14. Banking transactions: checks, transfers of funds, reconciling accounts.

15. Financial reports - income, expense, profit or loss by department or service type, trial balance, balance sheet, and cash flow.

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I have successfully setup QuickBooks and trained beginners or managers of businesses (Nigeria, Kenya, Uganda, USA) in the following sectors:

► Retail and Manufacturing
► Real Estate and Properties
► Professional Services
► NGO or Non-profit
► Financial Services
► Shipping and Logistics
► Schools and Educational Centres
► Poultry Farming
► Restaurants and Food Distribution
► Oil and Gas Servicing

If you'd like to know how I can implement QuickBooks accounting software solutions for your business, connect us at bigresourcessolutions@gmail.com 0r chat with us via Whatsapp (+2348105090001).

You really don't have to spend much to acquire software.

We can help you customize QuickBooks for:
► Invoicing
► Payment
► Tax
► Banking
► Inventories
► Expenses
► Reporting
► User management and control
► Backup
► Cloud hosting.

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