QuickBooks for Law Firms: Complete Review, Features, Pricing

QuickBooks for Law Firms:
Our Comprehensive Review | 2021

  • General / Business Accounting
  • Trust / IOLTA Accounting
  • Cash Basis (vs. Accrual)
  • Multiple Billing Types (Hourly, Fixed Fee, Contingency)
  • Law Firm-Centric Financial Reporting
  • Financial Reporting by Matter
  • Are Solo or Very Small Practices
  • Have Very Simple Accounting Needs
  • Prefer Accounting in a Web Browser
  • Have 5 or More Employees
  • You Need More Sophisticated Financial Management Tools
  • Your Firm Has Years of Historical Data in QuickBooks Professional
  • Robust Budgeting / Budget vs. Actual
  • Memorized Transactions
  • Sophisticated Custom Reporting
  • Loan Manager / Amortization Table Management

    Time & Expense Tracking
    Track billable hours and related expenses for a particular client or matter. However, time tracking is very limited, and best managed in dedicated Law Practice Management software.

    Invoicing
    Generation of invoices, including for billable hours, contingency work, and fixed-fee matters.

    Chart of Accounts, P&L, Balance Sheet
    QuickBooks includes the fundamentals of accounting, including a complete Chart of Accounts, P&L accounts and Balance Sheet accounts.

    Bank Accounts and Credit Cards
    QuickBooks includes registers for managing bank accounts (operating accounts) as well as for credit cards and lines of credit.

    Financial Reporting
    QuickBooks includes fundamental reports (Income Statement, Balance Sheet, Cashflow Statement) as well as many other canned reports, as well as the ability to create your own custom reports.

    Budgeting
    Create a monthly firm budget, and compare each month's actual finances to your budget (Budget vs. Actual).

    Client & Vendor Management
    QuickBooks includes basic management of Clients and Vendors, including the ability to store contact information and see transactions for any given client or vendor.

    Access for Your Accountant
    Both QuickBooks Professional and Online provide capabilities to give your accountant access to your books.

    Trust Accounting
    Trust/IOLTA accounting for management of trust funds, including trust account reporting.

    Split Billing
    QuickBooks does not include split billing, or the ability to attribute invoices across different attorneys.

    Legal Billing Reports
    Report billing/revenue by Matter, Client, Originator and other metrics.

    • LEAP
    • Clio
    • Time Matters
    • Rocket Matter
    • MyCase
    • Practice Panther
    • Bill4Time
    • FirmCentral

    The Best of Both Worlds
    Keep the robust legal software that you're firm is committed to and relies on, while enjoying the advantages of the Cloud.

    Work From Anywhere
    Unchain your self from the office, ditch clunky VPN and remote-computer-login "solutions." A Private Cloud provides a secure, easy-to-use Virtual Desktop that gives you access to your legal software, documents and email from anywhere.

    Data Security & Compliance
    Secure Private Cloud platforms, like Uptime Practice, keeps your software and data secure. End-to-end data encryption, Multi-Factor Authentication, Geographic Data Redundancy (Backups), Virus Protection and Ransomware Protection will keep your data secure and your firm compliant.

    Eliminate Servers & IT Headaches
    Maintaining servers and managing IT is a pain, even with a capable local IT support firm. A Private Cloud like Uptime Practice provides all necessary server infrastructure, managed, backed up and ready-to-go: So you can focus on your firm and your clients.

    Minimize Downtime
    Capable Private Cloud platforms like Uptime Practice are built with enterprise-grade infrastructures, and managed round-the-clock by professionals. This minimizes downtime for your firm, and maximizes productivity.

    Flexible & Scalable
    Stay flexible: Cloud-based solutions allow you to scale users, software, storage and options up or down as needed.

    Economical
    We consistently see Private Cloud solutions deliver a lower Total Cost of Ownership compared to managing on-premise, in-house servers and IT equipment. Study the Financial Case for Private Cloud, or get our Cloud Cost Calculator.

    About the Author: Dennis Dimka
    Dennis Dimka is the CEO and founder of Uptime Legal Systems, North America's leading provider of technology, cloud and marketing services to law firms. Under Dennis’ leadership, Uptime Legal has grown organically and through acquisitions to become the nationally-recognized legal technology company it is today. Uptime Legal continues to innovate and disrupt the legal technology space, and has been named to the Inc. 5000 list of fastest-growing private for the past six consecutive years. Dennis was also an Ernst & Young Entrepreneur of the Year finalist.

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