LexisNexis Firm Manager Integrates with QuickBooks Online
Raleigh, NC (PRWEB) April 05, 2016 -- LexisNexis® Legal & Professional, a leading provider of content and technology solutions, today announced integration between the LexisNexis Firm Manager® law firm practice management software and the Intuit® QuickBooks® Online accounting software. The integration synchronizes invoices created in the Firm Manager platform with the law firm accounting books maintained in the QuickBooks Online products.
“This integration benefits Firm Manager customers by eliminating an extra step in managing the finances of their firm and reduces the risk of manual errors,” said Whitney Pesot, senior product manager, for the LexisNexis Firm Manager team. “From the outset the product has been designed to deliver an exceptional customer experience though speed, security and ease-of-use and we’ve been busily adding enhancements like this integration at the request of customers.”
Today’s announcement is the third substantive software update to the Firm Manager platform since the team announced email integration in September 2015. Updates in the interim have centered on “voice of customer” requests from customization of matter intake templates – to creating tools for making the importation of data easier. The integration being announced today for the QuickBooks® Online application is highly anticipated by Firm Manager customers.
What Law Firms Can Do with Synchronization
Law firms already use the Firm Manager product to create invoices based on matters and activities in the system, including the capability to add discounts and taxes. Now, attorneys and legal professionals can also easily adjust these fields to match settings in their QuickBooks Online accounting software. The proper synchronization will occur automatically, or at the click-of-a-button, depending on the user’s preference.
A critical request Firm Manager customers have asked for – and being delivered – in this latest update to the Firm Manager software is integration flexibility. This integration provides law firms with the ability to map transactions from invoices in the Firm Manager platform to match preferences in the QuickBooks Online application.
Once a Firm Manager user authorizes invoice data to be synchronized, the feature sends individual invoice transactions to QuickBooks Online application. This creates a native invoice which can then be easily modified within the QuickBooks application for general accounting management and reporting.
The following are representative examples of law firm financial data that can be sent from the Firm Manager platform to the QuickBooks Online application:
• Payments: All payments against posted invoices will be available in the QuickBooks Online software and automatically associated with the appropriate invoice.
• Time Entries: Time billed to clients can be mapped to a revenue account such as “legal fee income” found in the QuickBooks Online Chart of Accounts.
• Credits: Credits or write-offs granted to an invoice in the Firm Manager application are synchronized with invoices posted in the QuickBooks Online application. This ensures both platforms have the same balance when users compare data in the systems.
• Expenses: Client expenses can be mapped separately from time entries so these can be properly tracked when accounting for payment of expenses attorneys make on behalf of clients.
• Sync Timing: Firm Manager users can either opt to send invoice data “on-demand” though the “sync now” button – or it will automatically synchronize the information to the QuickBooks Online platform every hour.
“No small business owner wants to spend more time than required to manage the books – but he or she also need to be sure it’s done right,” said Joe Woodard of Woodard Consulting, a consultant to LexisNexis. “This integration brings to bear a combination of best-in-class tools for effectively managing a small law practice.”
The Firm Manager product is an award-winning cloud-based law firm practice management tool especially designed for small law firms – and is backed by one of the most recognizable and trusted brands in the legal community. Market research has shown small law firms can gain upwards of 48-96 billable hours per year with practice management solutions, while also reducing reliance on additional staff by 40%. To request a demonstration, or start a free trial of the product, please visit http://www.firmmanager.com.
About LexisNexis Legal & Professional
LexisNexis Legal & Professional is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. LexisNexis Legal & Professional, which serves customers in more than 175 countries with 10,000 employees worldwide, is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
LexisNexis Software Solutions provides law firms and legal departments of all sizes with world class business of law and litigation software tools. Our innovative software and mobile solutions include competitive solutions for eDiscovery, case analysis and presentation, enterprise legal management (ELM), customer relationship management (CRM) and practice management.
# # #
Frank Strong, LexisNexis Software Division, http://businessoflawblog.com/about-us/, +1 (202) 352-5920, [email protected]
Share this article