The world is fast moving towards automated accounting with the help of smart tools! QuickBooks is the famous accounting developed & controlled by Intuit. It has all the basic accounting features and something or the other for different sectors. Legal firms shouldn’t lag in revolutionizing their accounting task, just like other traditional sectors. Save time and achieve greater accuracy in accounting with the right kind of software hosting.
QuickBooks is one of the trusted names in cloud financing & the best way to generate automated reports of accounting. QuickBooks hosting is the need of the hour and this blog is highlighting the features & benefits for the law firms.
Table of Contents
- Custom User Permission
- Accelerated Invoicing
- Cash Flow Management
- Time Tracking
- 24/7 Technical Support
- Integrated Financial Management
- Remote Accounting
- Enhanced Security
- Disaster Recovery
- Easy Collaboration
- Streamlining of Processes
An Overview of QuickBooks for Attorneys/Legal Firms
There are different versions of the QuickBooks software helping attorneys & law firms achieve financial hygiene in their system. Start hosting with the initial version of the software and gradually upgrade it as per the use. The tool will help manage the finances of your law firm & prosper the right way.
Intuit is one of the trusted brands in accounting for small businesses and it has been now around for a long time. Do you have a law firm & want to instil order in the yearly financial reports? QuickBooks hosting will provide you the ability to track time, generate, invoices, accept payment, and prepare genuine financial reports.
As a law firm, it is important to create reports based on client type & name to better track their metrics. It helps the law firm keep track of what they’re doing & things to improve in the system. Hosting QuickBooks on the cloud provides you the opportunity to access accounting data remotely & document everything financial transaction online. Choose a private cloud server that will provide the functionality of QuickBooks & the reliability of the cloud. It will include all the firm’s software and ensure secure storage of the data.
QuickBooks hosting is the perfect match for law firms looking for a reliable partner in the handling of financial reports.
QuickBooks Features for Legal Firms
The software is the best fit for small to medium-sized law firms! The firms must adopt new technologies to be part of the tech revolution around the world. Also, it promotes the kind of accounting efficiency in the system like never before!
Let us look at some of the top QuickBooks feature important for legal firms –
Custom User Permission
It is the kind of feature that is meant to provide access to clients or other employees in areas like accounts receivable. Suppose there are four administrative assistants in the account receivable department of the firm. Each of them needs to be provided with custom user permissions in the area of accounts receivable for which they are responsible.
It is one of the top features of the software and with each updated version, reporting has become smarter. With the help of financial reports, the firm will be able to better address the anomalies in the system.
It provides you the ability to see the whole picture of the legal firm & how the business is doing. The best thing about reporting is to get the right forecast & budgeting along with improvement in the cash flow. The firm can grow in a prosperous & robust manner by taking the right decision based on reports.
Does your law firm generate a large volume of invoices? With QuickBooks hosting, you will be able to better manage the flow of invoices. The increased flow of payments in the law firm & generation of invoices will help attorneys make better operational decisions.
Cash Flow Management
Manage a proper cash flow within your law firm by generating bills & keeping track of cash flow. The scheduling of recurring payments will save time & effort. One of the worries of law firms remains improper cash flow in & out of the organization. The best thing will be to host QuickBooks to avail of the cash flow management features.
Do you have employees working in the law firm? It is the feature to track the time of employees & check the billable hours by clients. It gets automatically added to the invoices! Keeping a record of time will help to keep track of payments to employees based on an hourly basis.
24/7 Technical Support
There is always a helping hand for QuickBooks hosting from the service provider! Consult with the technical experts & fix all issues related to QuickBooks operations. Start managing finances in a better way with the 24/7 support of the QuickBooks hosting technicians.
Benefits of QuickBooks Hosting for Legal Firms
Integrated Financial Management
The management of accounts becomes simpler & efficient with QuickBooks hosting. It is an integrated financial management system meant for expense management & billing. All tasks related to the financing of the law firm can be done on QuickBooks.
Law firms and lawyers can get access to the QuickBooks data remotely with safe user login. It is easy to manage the finances and thus QuickBooks provides the facility to access the account anywhere in the world. This provides the employees with the freedom to work in remote locations. No need to wait for the office to re-open to work on a particular accounting file of the firm. With user authentication, the files can be accessed at any time remotely.
Law firms handle a lot of sensitive data and in case of any data leak, the reputation of the firm can be affected. The physical security of data is of utmost importance for firms and the software is providing enterprise-level data security. Increase the level of security with the right kind of QuickBooks hosting service.
What to do with the QuickBooks data in case of any disaster? You can lose your invaluable data any time due to a mishap and thus it is important to keep track of the data. With QuickBooks, it is easy to recover the data in a quick time. No wasting of time in getting the data back from a secured location.
Collaborate with the clients to ensure you have the correct data to work with. The lawyers can now work together on a single file from a different location on QuickBooks. The accounting files can be now accessed using multiple devices, once the QuickBooks cloud accounting is hosted the right way.
Streamlining of Processes
All the accounting processes in the law firm can be optimized & streamlined with the help of QuickBooks hosting. The software ensures that accounting needs to be done properly for streamlining the work processes.
QuickBooks Online Advanced: The Future of Law Firms
As the law firms expand, the management of finances is crucial for the organization. Make sure you choose modern methods of accounting and host QuickBooks online advanced for effective financing. It is the most powerful of all QuickBooks versions & law firms can greatly benefit from it.
The QuickBooks Online Advanced version is helping law firms in the following ways –
- It is easy to integrate the law apps with QuickBooks
- Use batch invoicing & transactions in QuickBooks to save time.
- Availing the right details & providing the right information is impossible through the app.
- There are greater chances of client experience improvement with enhanced custom fields.
- Highly reliable & powerful reporting feature for firm evaluation.
The advanced version has reduced the time needed to process 2,000+ monthly invoices and thus clients can re-assign staff members for the task. Law firms can help their clients address their growing pain points with the use of an effective tool like QuickBooks. It is time that all traditional law firms transition from antiquated desktop-version software to QuickBooks hosting for cloud-based accounting.
Your legal team or firm will get the boost of technology when you decide on QuickBooks on the cloud. The employees can access the data anytime for work & improvement! You need to recognize the benefits of QuickBooks hosting & introduce safe accounting options to the firm.
Minimizing accounting errors & data accuracy in your law firm will be the direct result of QuickBooks cloud hosting. The right kind of financial approach in your law firm will ensure that there is never a shortage of funds. Keeping track of the finances is important & the QuickBooks hosting keeps everything transparent in the system.
QuickBooks is user-friendly and can be adopted by all in no time! Make sure that your law firm gets the security of financial efficiency in the system by using automated software tools. QuickBooks hosting also enables the firms to add on other tools that can be beneficial for the company’s operations.