would you like to know how to make sure quickbooks online includes the features
and functionality that attorneys need when keeping records of a law firm
well then you should watch this video adjusting the account company settings
if you have any questions about this topic you can leave them in the comments section below and
i'll do my best to help you and of course if you feel the video helped you i hope you will click
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these things might be called company settings or account settings depending on the version
of quickbooks online that you signed up for you will open this window from the cog
wheel in the top right that you were shown in the previous video this window
controls the defaults the options the automatic behavior of the quickbooks online account
and this window is used to add or remove a feature that you might need when using quickbooks online
so what settings do attorneys specifically need well you must input and change the company name
and address so that when you print financial reports and you print forms like invoices
estimates bills and so on that the law firm's name and address shows up in the proper position
let's do that now the name of the example law firm will be ross scheister law firm 1787 meadow lane
east meadow new york 11554 and this will be the phone number and this will be the email address
so it's very simple from the top right we click the cog wheel and we go over to the left and click
account and settings now as you can see there are different categories for account settings in
quickbooks online and you can change categories by clicking the tabs on the left the first one
we will change is the company settings we will click here and in order to change one of the areas
within that category you have to go to the top right and click the pencil key for company name
now i'm going to use my powerpoint and i'm just going to copy and paste to make it easy you can
type in whatever name you like but remember this is just for your education this is not your actual
records so we type in the name ein number can be one two three four five six seven eight nine
whatever and then of course we can click save for company type you can click the pencil tool
and you will see that you can choose a tax form so that if you have an accountant who will use
intuit quickbooks related software to do the taxes then you would choose a tax form and you would
work with your accountant to map each account to each line of the tax form but we will not do that
we will simply put the company email address in the right spot
okay and company phone
okay and we don't have a website so we save this section of the company settings and i believe
the address should go back here i didn't see a place for the address
oh here it is address so let's just go ahead and put it in so that it shows up on the transaction
forms like invoices as well as the financial reports like your income statement and balance
sheet
okay paste new york
and click save so what other settings are specific to an attorney we can click done in the bottom
right when you're finished with one particular section and now you can see the company name has
changed to the company that you're actually using as your example now let's check out
what else well we also must track expenses by job and that option is actually already activated
but what we have to do is tell quickbooks online to make client expenses billable to clients
so again we click the cog wheel go all the way to the left in the your company column
and click account and settings then we click the tab for expenses and notice track expenses by
customer is off and make expenses items billable off we have to click the pencil key attorneys need
to track expenses by customer or client and we click here attorneys must make expenses billable
and the default is tracking billable expenses as income and that's what we will use for this course
i will provide you with supplemental videos for you to have an option where you mark up
the expense and treat only the marked up amount as income but right now
just be aware that these are two settings that attorneys must have and click save and
we will return to the account settings window as needed if we need to activate another feature