Law firm client accounting is one of the many services that Legal Bookkeeping provides. To find and get bookkeeping clients from all around the globe, we integrate our client accounting services with LEAP legal practice management software. This article aims to answer some of the most common questions that law firm accounting clients might have.
Why should you choose LEAP?
- Digitize your law firm
The benefits of digitizing your law firm boils down to one effect that your law firm is sure to experience – maximizing the efficiency of your staff and therefore the revenue of your business. Figure out which areas of your law firm you can digitize, hire a credible legal bookkeeper with LEAP expertise and you have the equation complete! This will let your attorneys spend less time tracking billings and hours and improve their productivity instead. LEAP can take care of your:
– Documents creation and storage
– Billing and trust accounting
– Tracking hours and client scheduling
Take advantage of the recent technological advancements, remove human errors from the equation and let your attorneys focus on legal practice! - Keep your files organized
Declutter your office space and make managing important files and documents a breeze. Storing and managing your law firm’s case files in their electronic form is much easier for your staff – LEAP’s automation makes it even more convenient. It also allows your staff to access them anywhere they have to, scan files wherever they need to and upload it to the cloud – once you go digital.
What does using LEAP legal software mean for my law firm in terms of business?
- Find your legal clients and understanding them better
Hiring a legal bookkeeper with LEAP expertise means you can go paperless and digital, cutting down on attorney bookkeeping. Your staff can spend time on building relationships with their clients, understanding them better and forming strong communication between them. Your legal clients’ demands can be met remotely and seamlessly through the help of legal bookkeeping, and a spike in client satisfaction is guaranteed.
- Better revenue for your business
More legal clients mean more billable hours. The implementation of LEAP legal practice management software and its time tracking feature lets law firms capture an extra 10th of an hour per day per attorney.
| Without LEAP | With LEAP | ||||||
| Hourly | Daily ( 9h x Hourly) | Monthly (22 x Hourly) | Yearly (12 x Monthly) | Hourly | Daily ( 10h x Hourly) | Monthly (22 x Hourly) | Yearly (12 x Monthly) |
| £20 | £180 | £3,960 | £47,520 | £20 | £200 | £4,400 | £52,800 |
| Extra Revenue = £5,280 | |||||||
LEAP Integration with QuickBooks Online
As of 2017, QuickBooks Online (QBO) is used by over 2 million users, making it one of the most widely used small business general ledger software available.
If your law firm wants to integrate QuickBooks Online, you have nothing to worry about. With the help of your legal bookkeeper, you can synchronize your LEAP files and banks with Quickbooks Online for multiple clients. This seamless process will not require you to learn a new software and results in better efficiency and way less errors in record-keeping.
Some common questions you might have regarding QuickBooks Online integration:
- How do you synchronize LEAP with QuickBooks Online?
Through a link between LEAP transactions and QBO, called a General Ledger Link. You have full control on the General Ledger Link – you can choose to not export a transaction to QBO or put entries on hold by turning off the auto-sync. - What files transfer into QBO from LEAP?
– Operating Account transactions of your clients. Trust account transactions are not transferred.
– Accounts Receivables, if the firm is on an Accrual basis.
– Payments received from clients, split into professional fee income or expense reimbursement.
– Expense checks and the check numbers, including the name of the vendor, given the vendor is listed in both LEAP and QBO.