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Product update, June 2017
Product update, June 2017

Options for trust accounting and invoicing at client level; Undeposited funds support; Bug fixes

Fred Willerup avatar
Written by Fred Willerup
Updated over a week ago

The theme of the features this week is better integration with QuickBooks:

Client Level Accounting

Until now, we organize all invoices and trust accounts in QuickBooks in a two-level structure: First the clients and then matters, and invoices and trust is put into the matter bucket in QuickBooks.

We have now introduced an option to set a client to "Client-Level Accounting" which means that we will only create the client in QuickBooks and all invoices and trust is managed under the client. In LeanLaw you still have clients and matters but they will be mapped to just clients in QuickBooks.

Why do you need this? The primary reason is if you receive retainers from a client that are to be managed not for a specific matter but for multiple matters. Or if you need to produce invoices that contain charges for multiple matters on the same invoice. In those cases you pick Client Level Accounting.

Undeposited Funds for Trust Accounts

This feature has been requested by several accountants, and it is recommended for all but the smallest firm. You can find it under Accounting Settings, and then Trust Account Setup:

If you enable this, trust deposits and payments will not be made to the Trust Bank Account directly but instead will be made via your Undeposited Funds account. This allows you to later do just one transaction with your trust account such as depositing multiple checks and makes reconciling easier. Talk to your accountant to see if you can use this.

Thanks goes especially to Jay Holmes (Blueback Accounting) for consulting with us on this feature.

Minor Improvements

We continuously improve minor things and fix bugs, based on your feedback. So don't hesitate to let us know if something isn't working or you think could be better. We rely on this big time!

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