This will guide you through the process for entering hard costs (or advanced client costs) in LeanLaw. Watch this video or follow the step-by-step instructions below to learn how ot manage your hard costs with LeanLaw.
Step-by-Step Instructions
Access LeanLaw:
Log in to your LeanLaw account.
Navigate to the New Button:
Locate and click on the “New” button within the QuickBooks Online interface.
Record a Check:
From the “New” menu, select “Check” to record a check you’ve written or are about to write.
Choose the Payee:
Select the payee or vendor to whom the check is going.
Select the Bank Account:
Ensure that the appropriate bank or operating account is selected to pay the expense.
Specify the Date:
Choose the transaction date, which can be the date you’ve already written the check or the date you plan to write it.
Check Number (Optional):
If you’ve already written the check, enter the check number. If not, you can select “Print Later.”
Choose Expense Account:
In the category section, select “Advanced Client Costs.” This account is used for advanced expenses that will flow into LeanLaw.
Add Description:
Enter a description that helps identify the nature of the expense.
Select the Client:
Choose the client for whom this expense is being incurred. The options available may vary depending on whether your setup is matter-level accounting or client-level accounting.
Review Details:
Double-check all the details, including the payee, account, date, check number, description, amount, and client.
Save and Close:
Click “Save and Close” to record the check. This expense is now captured in QuickBooks Online.
Verify in LeanLaw:
Check LeanLaw to verify that the expense is captured. Refresh the page if needed to see the latest expenses in the “Expenses” tab.
Capture for Billing:
In LeanLaw, expenses are staged in the “Ready to Bill” area and can be included in client invoices when you’re ready to invoice for them
Other Methods for Recording Expenses:
Recording Credit Card Expenses:
If you have an expense paid by credit card, click on “Expense” from the “New” menu.
Choose the vendor and payment account (e.g., business credit card).
Select “Advanced Client Costs” as the category.
Add a description, amount, and other details.
Save and Close.
This method is suitable for capturing credit card expenses and automatically enters them in your credit card register.
Creating a Bill:
If a vendor bills you for an expense, choose “Bill” from the “New” menu.
Fill in the bill details, including the bill number, date, terms, and vendor (e.g., Hometown Hospital).
Select “Advanced Client Costs” as the category.
Enter the amount and choose the client.
Save and Close.
This method allows you to record the expense as a bill even if you haven’t paid it yet.
By following these steps, you can effectively record hard costs in QuickBooks Online and ensure that they are captured for billing purposes in LeanLaw when necessary.