Accounting Archives
Troubleshooting Reconciling in QuickBooks Online: A Guide to Getting That $0.00 Difference Reconciling your bank or credit card accounts in QuickBooks Online (QBO) is a key part of closing your books and ensuring accuracy. But what happens when the numbers don’t line up? One of the most common challenges is troubleshooting the current reconciling
Troubleshooting Reconciling in QuickBooks Online Read More »
Accounting for Pro Bono Expenses and Discounted Legal Services Over the course of an attorney’s career, there’s a 75% chance that they’ll offer some form of pro bono legal services. You may or may not fall into this category, but if you do, you’ll know that there are still some expenses you incur. Traveling costs,
Accounting for Pro Bono Expenses and Discounted Legal Services Read More »
4 Best Practices for Reimbursable Client Costs for Lawyers Law firms often incur expenses on behalf of their clients, particularly when working on a contingency fee basis. These costs, known as reimbursable or advanced client costs, can impact the firm’s financial reporting and overall profitability. Proper categorization and tracking are key to minimizing the risk
4 Best Practices for Reimbursable Client Costs for Lawyers Read More »
In our last blog post we went over the crucial first step of reconciling your accounts in Quickbooks. Once you’ve selected the checking account to reconcile in QuickBooks Online (QBO), the next step is troubleshooting the beginning balance to verify that what is shown on screen matches the beginning balance on your bank statement. This
Troubleshooting the Beginning Balance in QuickBooks Online Read More »
Closing the books is a fundamental part of the accounting cycle. It ensures that your financial records are not only complete, but are accurate, and even compliant. It also sets you up for timely reporting and thorough analysis. In this blog post, we’ll guide you through the key steps, focusing on reconciling the balance sheet
Reconciling the Balance Sheet: The First Step in Closing the Books Read More »
How AI in Accounting is Redefining the C-suite AI in accounting is unavoidable. Some tasks are time-consuming and low-value, taking time away from accountants that is better spent on high-value tasks. A few areas where AI penetration is undeniable are: Communication, because 64% of accounting pros are using it to refine emails. Task automation, where
How AI in Accounting is Redefining the C-suite Read More »
Law Firm Cash Flow: Why Clients Pay Late and How to Fix It Cash flow is the lifeblood of your law firm. It ensures your bills are paid and your clients receive the service they expect. Yet many firms struggle to manage theirs properly. In fact, an estimated 82% of small businesses, including law firms,
Law Firm Cash Flow: Why Clients Pay Late and How to Fix It Read More »
Add Transactions in QuickBooks Online Now that you’ve carefully worked through your unmatched and uncategorized bank feed activity, it’s time to add the remaining transactions to your General Ledger (GL). This final step ensures your financial data is complete, accurate, and organized, all without manual data entry. Let’s dive into this important step and everything
Add Transactions in QuickBooks Online Read More »
Top Accounting Problems IT Companies Face (And How to Fix Them) Streamlining your workflows, systems, and workforce is part of being a cutting-edge tech company that focuses on efficiency and profitability. Accounting problems can strain your business, causing: Poor cash flow Disorganization Potential costly oversights Avoiding accounting problems as a tech company is crucial at
Top Accounting Problems IT Companies Face (And How to Fix Them) Read More »
In our last blog post, we explored how to use banking filters in QuickBooks Online (QBO) to categorize transactions efficiently by leveraging matches, rules, and suggestions. However, once these automated features have done their job, we’re often left with some transactions that still need to be addressed. In this post, we’ll walk through the next
Mastering QuickBooks Online Bank Feed Matching Read More »