Quickbooks

Webinar: Law Firm Finance 101

 

 

Mike Swanson 2017With an in-depth understanding of finance and the right tools, your guidance will help your contingent-fee law firm operate at its fullest potential. We invite you to join our August 16th webinar with President and CEO Michael J. Swanson to learn the most relevant financial concepts for plaintiff attorneys and pinpoint the challenges contingent-fee law firms face when seeking capital.

 

Also, Mike will discuss the pros and cons of the 10 most common forms of capital utilized by contingency-fee lawyers.

 

You’ll get steps you can take to improve the financial health of your firm.

 

Space is limited, so register for the August 16th webinar now: http://www.advocatecapital.com/August16Webinar

 

Law Firm Finance 101 Webinar on Wednesday, August 16, 2017 with Michael J. Swanson:

 

  • 1:00PM – 2:00PM Central (Chicago)
  • 11:00AM – 12:00PM Pacific (Los Angeles)
  • 2:00PM – 3:00PM Eastern (New York)
  • 12:00 PM-1:00PM Mountain (Arizona)
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Billie Hardison, Quickbooks Certified ProAdvisor

 

 

Billie HardisonCongratulations to Billie Hardison on completing both the online and desktop versions for the QuickBooks Certified ProAdvisor program.  Ms. Hardison has been part of the ACI Team since 2012 and recently transitioned to our Training Specialist.  In addition to support with applications like Intacct, Needles and Microsoft products, she will also now be available for Quickbooks support.

 

Billie now joins Senior Vice President Donna Jones and Executive Client Manager Michelle Rigsby on the QuickBooks support team.  If you are an Advocate Capital, Inc. client, not only do you receive discounts on user licenses and software upgrades but UNLIMITED free Quickbooks training and support as well.

 

If you have questions regarding your existing Advocate Capital account related to Quickbooks, please contact your Account Manager, call our office toll-free at 1-877-894-9724, or send us a message by clicking here.

 

If you are not an Advocate Capital, Inc. customer, we hope you join our family of clients very soon!

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Does Your Bank Do This?

 

Does Your Bank Do This?Banks are great and we all need them.  They are essential to your practice, but do they really understand how your practice works, the challenges you face, and how your cash flow ebbs and flows?

 

Here at Advocate Capital our business has been built around the unique and specific needs of trial lawyers since 1999.  This just isn’t lip service.  We routinely ask our clients how we are doing and how we can better serve their needs to help them assist even more people achieve justice from a very unjust world.

 

An example of this are the numerous enhancements we have made to AdvoTrac®, our proprietary Case Expense Funding Service.  This technology is the cornerstone of our business and what drives our ability to provide successful plaintiff firms access to capital at a net cost of less than 1% per year.

 

Continuous improvement is a core value our associates practice every day.  Thanks to suggestions from firms just like yours we have invested over $500,000 in nearly 300 platform enhancements to AdvoTrac®.  The result is an ever evolving and improving case expense and accounting service tool that is tracking over 65,000 cases for our clients.  In fact, our Accounting Team processed more than 2 MILLION transactions last year through AdvoTrac® for our family of clients.

 

We are and remain proud to serve your unique needs exclusively.

 

If you currently use a bank line of credit to fund your advanced case expenses, this begs the question:  Does your bank do this?

 

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Law Firm Finance 101 Webinar Registration Open

 

Webinar This WeekWith an in-depth understanding of finance and the right tools, your guidance will help your contingent-fee law firm operate at its fullest potential. We invite you to join our May 17th webinar with President and CEO Michael J. Swanson to learn the most relevant financial concepts for plaintiff attorneys and pinpoint the challenges contingent-fee law firms face when seeking capital. Also, Mike will discuss the pros and cons of the 10 most common forms of capital utilized by contingency-fee lawyers.

 

You’ll get steps you can take to improve the financial health of your firm.

 

Space is limited, so register for the May 17th webinar now: http://www.advocatecapital.com/May17Webinar

 

 

Law Firm Finance 101 Webinar on Wednesday, May 17, 2017 with Michael J. Swanson:

  • 1:00PM – 2:00PM Central (Chicago)
  • 11:00AM – 12:00PM Pacific (Los Angeles)
  • 2:00PM – 3:00PM Eastern (New York)
  • 12:00 PM-1:00PM Mountain (Arizona)
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Michelle Rigsby Newest Quickbooks Certified ProAdvisor

 

Michelle Rigsby QuickbooksCongratulations to Michelle Rigsby on obtaining the QuickBooks Certified ProAdvisor status.  With this additional milestone, Michelle will be even more effective assisting our law firm clients with routine account management expertise as well as practical accounting.

 

Michelle now joins Senior Vice President Donna Jones on the QuickBooks support team.  If you are an Advocate Capital, Inc. client, not only do you receive discounts on user licenses and software upgrades but free Quickbooks training and support as well.

 

 

If you have questions regarding your existing Advocate Capital account related to Quickbooks, please contact your Account Manager, call our office toll-free at 1-877-894-9724, or send us a message by clicking here.

 

If you are not an Advocate Capital, Inc. customer, we hope you join our family of clients very soon!

 

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QuickBooks® Desktop 2017 Version Now Available

 

Copyright : Muhammad RibkhanContingent-Fee law firms enjoy many value added benefits when they join the Advocate Capital, Inc. program, including complimentary access to QuickBooks support and discounts toward the purchase of QuickBooks products. With that, we work to keep our clients up-to-date on new releases as they become available.

 

Intuit announced in September the release of QuickBooks Desktop 2017. In this article, Charlie Russell of the Accountex Report provides a great overview of the newest features.

 

Intuit supports the most recent 3 year period so the release of 2017 signals that intuit will soon discontinue support for 2014 versions. Those using the Payroll feature will be most impacted when support for 2014 is discontinued as payroll updates, payroll tax calculations and direct deposits will no longer function properly. 2014 Users will have payroll capability through December 2016 and likely for a brief period thereafter (referred to as the sunset period); however, if you’re using the payroll feature you will want to begin considering an update soon.

 

Need help deciding?

 

QuickBooks Premier Users: click here to compare the 2017 Premier features to prior year versions.

 

QuickBooks Pro Users: click here to compare the 2017 Pro features to prior year versions.

 

Quick tip:  Don’t know which version of QuickBooks you’re currently using? With QuickBooks open, Click F2 on your keyboard to display product information.

 

If you’d like more information about special pricing or support available to Advocate Capital, Inc. clients, contact your Account Representative or email us at QBSupport@AdvocateCapital.com.

 

Lisa Wagner

Senior Vice President, Client Services

 

Advocate Capital Inc. Quickbooks Certified ProAdvisor

 

Photo Credit: Muhammad Ribkhan
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Intuit Support for QuickBooks® 2013 Expires May 31, 2016

 

Copyright : alexmillosIf you’re using QuickBooks® 2013 Desktop versions, you’re likely receiving notices from QuickBooks® that support for 2013 versions is about to expire.

 

As the QuickBooks® team works to meet the ever changing organizational and technological needs of its customers and improve functionality and organization, support for older versions is discontinued. QuickBooks® 2013 desktop versions will no longer be able to access features such as Online Banking or other QuickBooks® services such as Payroll, Payments and live technical support after May 31, 2016.

 

If you use those features, you’ll need to upgrade to 2016 to continue your support and access those features. Upgrading to a newer version can be a little scary, but be brave! The enhancements are usually well worth the time invested in upgrading. For a peak at what’s new for 2016, click here to view a thorough explanation and illustration provided by Charlie Russell of The Sleeter Group.

 

If you’ve been thinking about transitioning to QuickBooks® Online, click here to get an idea about QuickBooks® Online pricing and to compare Online vs Desktop features.

 

As a reminder, Advocate Capital, Inc. clients enjoy a special pricing on QuickBooks® products and upgrades. If you’re considering upgrading to a new and improved version of QuickBooks®, contact your Account Manager to take advantage of the discounted pricing.

 

Lisa Wagner

Senior Vice President, Client Services

 

Photo Credit: alexmillos
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QuickBooks® Online vs. Desktop Versions – Things to Consider

 

Photo Credit: alexmillosMore and more consumers are enjoying the convenience and benefits of anytime, anywhere access to critical information. Instant access to information has become the norm and almost a necessity. What’s more important than accessing your Firm’s financial data anytime, anywhere?

 

Many law firms utilize QuickBooks® as an accounting solution and QuickBooks® Online has been available for many years. However, some firms are reluctant to transition from the traditional desktop version to the online version because of the lack of knowledge about the benefits of the online version and just how simple the conversion can be.

 

A few of the basic advantages of QuickBooks® Online vs. the Desktop solution include:

 

  1. Anytime access wherever internet connections are available.
  2. Increased productivity with automatically downloaded transactions from financial institutions & automatically categorized transactions.
  3. Apps available for smartphones and tablets.
  4. Easy 3 step conversion from Desktop to Online Version

 

Click here to see a comparison of features available in QuickBooks® Online vs. QuickBooks® Desktop versions and to view short video demonstrations. As with the Desktop solutions, there are several online versions available to meet individual firm needs. Click here to view a feature comparison chart for the various QuickBooks® Online versions.

 

Complimentary QuickBooks® support is available as an added value benefit to Advocate Capital, Inc. clients. For more information, contact your Advocate Capital, Inc. Account Manager or via email at QBSupport@AdvocateCapital.com.

 

QB ProAdvisorLisa Wagner

Senior Vice President, Client Services

 

Photo Credit: alexmillos
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QuickBooks® Pro 2015 Available – Advocate Capital, Inc. Clients Enjoy Special Pricing

 

Copyright: <a href='http://www.123rf.com/profile_alexmillos'> / 123RF Stock Photo</a>As we’re approaching year-end, it’s a great time to start getting your law firm’s books and records in order, taking advantage of strategic year-end tax planning initiatives and setting goals for 2015.

 

QuickBooks recently announced the availability of QuickBooks Pro 2015.  If you’ve been considering updating your existing version, click here to view a comparison chart highlighting the new features available in QuickBooks 2015.  Upgrading from an existing version is easy.  It comes with a downloadable link and you can be up and running with access to the new features of 2015 in no time at all.

 

Advocate Capital, Inc. clients enjoy a special 30% discount on new purchases and upgrades to QuickBooks products as well as complimentary access to QuickBooks Certified ProAdvisors to help navigate QuickBooks related questions.

 

If you’d like to take advantage of the special discounted pricing available to Advocate Capital, Inc. clients, contact your Account Representative or email us at QBSupport@AdvocateCapital.com.

 

Our mission is to support the important work of Plaintiff Attorneys, helping them achieve the best possible result for their clients and for their practices.

 

Lisa Wagner

Senior Vice President, Client Services

Advocate Capital Inc. Quickbooks Certified ProAdvisor

 

 

 

 

 



Photo Credit:  123RF Stock Photo
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IRS Ruling Regarding Accounting Treatment of Client Case Costs

 

Since 1982, the IRS has ruled that contingent-fee related case costs paid by law firms are actually loans to the client, or advances made on the client’s behalf that the law firm expects to recover. The IRS ruling further states that those costs may NOT be deducted as a business expense on the law firm’s tax return. If selected for an audit by the IRS, accounting for client case costs as a business expense, could result in significant fines and penalties and a potentially sizable tax bill for the law firm. According to the IRS ruling, case costs related to contingent-fee cases should be reported for accounting and tax purposes in the asset section of a law firm’s Balance Sheet.

 

Are you applying the correct accounting treatment to contingent-fee client case costs?

 

If you use QuickBooks, this short video will provide you with information to help you make sure your law firm is adhering to the proper accounting treatment of client case costs and if you’re not, it will demonstrate steps to get you on the right track.

 

 

If you have questions or would like additional information on this issue, please contact us via email at QBSupport@AdvocateCapital.com.

 

Because these costs represent a non-deductible expenditure of a law firm’s cash resources, they essentially sit on the law firm’s books as a receivable – often for years, while the law firm works to achieve justice on behalf of its clients. Advocate Capital, Inc. provides contingent-fee law firms with strategic business solutions to help law firms address this important financial issue.

 

If you would like to talk a representative about how the Advocate Capital, Inc. program may be able to help your Practice, visit our website www.AdvocateCapital.com or call us toll free at 877-894-9724.

 

Lisa Wagner

Senior Vice President, Client Services

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Case Expense Financing at a Net Cost of Less Than 1%*

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