Good question! If you loathe it, don’t have the time, or find aspects of bookkeeping confusing, then it may be time for an outside bookkeeper. Or at least a pointer or two.
To quote Certified QuickBooks Pro Advisor Belinda Bixby, get help when you are:
• Starting your own practice.
• Growing an established practice including hiring employees or bringing on partners.
• Preparing for tax time.
• Getting caught up on past financial tasks.
• Preparing to apply for a loan or line of credit.
Also reach out for help any time you are stumped, worried, or just can’t get to what needs to be done on an ongoing basis. To paraphrase Belinda, “You tell your clients that investing in a lawyer can save them money in the long run. The same applies to you and bookkeeping. You are an attorney. That’s where your talent lies. You did not put in all of that time and effort obtaining your degree and building your practice to spend it wrestling with bookkeeping.”
If your bookkeeping practices or skills are not quite what you want them to be, read Belinda’s post on Law Office Bookkeeping at the Oregon Sole and Small Firm Practitioner’s Web site. While there, you can get other useful tips from my article, Financial Management 101.
If trust accounting makes you want to pull your hair out, remember that we offer a free Guide to Setting Up and Using Your Lawyer Trust Account for Oregon lawyers. Visit the PLF Web site and click on Books from the PLF. Oregon lawyers and staff are also welcome to call or write PLF practice management advisors at any time with trust accounting questions. To locate a practice management advisor, contact yours truly or visit the PLF Web site and follow the link to Advisors under the heading Practice Mgmt Advisors. You may also want to watch my video, How to Reconcile Your Trust Account, or search for other posts on this blog related to financial management or credit cards.
Copyright 2010 Beverly Michaelis