Products and Services

When creating your invoice, QuickBooks needs to categorize the types of entries that you're feeding it. The majority of your invoiced items are either time entries, or expenses, so we'll need to help QuickBooks categorize them. 

To start, navigate to Products and Services under the Gear icon. You'll want to create a New Service, and title it "Legal Services", setting the income account to Legal Income. Similarly, create "Billable Expenses" with income account set to Prepaid Expenses.

Trust Banking Accounts

You'll need to setup three separate accounts for handling trust transactions.

In your Chart of Accounts, create a New "Bank" category, with "Checking" detail. This is your general account for receiving invoice payments, and is needed regardless of trust.

For Trust Accounting, two accounts are needed. First is the "Trust Account", which is "Bank" type, with "Trust account" detail. Second is "Funds Held in Trust", which LeanLaw creates automatically, unless your firm already has one. 

Once both account have been created in QuickBooks, head back to your LeanLaw Settings page. Under QuickBooks Integration, select Trust Account Setup. From the available dropdown menus, select your Trust and Operating accounts.

Once completed, you're all set!

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