Archive for Expense tracking

Becoming a Law Firm Trusted Advisor

For those looking to work with law firms it is important to understand the law firm “business”. Yes, for those lawyers reading this, a law firm is a business. In this series in Insightful Accountant I discuss how to become a trusted advisor for law firms. For lawyers, this is worth reading as it may help you know what to ask that bookkeeper or accountant you are planning to work with. Part 1 is an overview what it means to understand the business of law and is now published at Becoming a Law Firm Trusted Advisor.

Subsequent articles will look at the various points in more depth:

  • Trust accounting and IOLTA requirements
  • Billing
  • Advanced Client Costs
  • Measurements
  • Practice Management


Financials and Automating Data Entry

The Sleeter Conference was filled with useful sessions and vendors with interesting products. There seemed to be several themes. Financial reporting/analysis and automating data entry were among the top.
You can read more about the products of interest in my Intuitive Accountant article.

Expense Tracking Apps

Whether you fly around the world for business or just pay for parking at the court house, you may incur expenses that should be paid for by the business. Whether you are a solo or part of a large firm, properly tracking expenses is critical so that you are reimbursed and you have good documentation for the IRS.

There are many ways you can track expenses from an envelope with all your receipts and paper and pencil reports to excel or sophisticated tools designed to make reporting easier. When it comes to reporting tools there are many in the market that integrate with QuickBooks. If you are not using QuickBooks, you can still derive large benefits by capturing your expenses and preparing your expense report more efficiently.

I recently reviewed one such app – Tallie – for the Intuitive Accountant. You can read the review on the Intuitive Accountant site and see if Tallie is right for you.