A lot of tech resources save both time and money. Going paperless is an example. Eliminate most paper from your office and you eliminate most office supply costs.
And office supplies are expensive. I had sticker shock on office supplies when I opened my office. Everything cost at least five times more than I would have guessed.
Here are a few things I am doing to save administrative time that solo and small firm lawyers may want to consider:
- use mobile banking app on phone to make bank deposits;
- pay as many bills as possible on business dedicated credit card;
- link credit card to Quickbooks to categorize expenses; and
- use Stamps.com to print stamped envelopes.
When you pay bills with a credit card you save time and money on checks and postage.
I advise against paying any bills other than your credit card bill through a debit to your checking account. If you aren’t going to pay with a credit card, use a check.
Once you turn over your bank account information to a vendor you run the risk of them charging your account for an unauthorized charge. If they do that on a credit care it’s easy to reverse. It’s hard and expensive with a bank account. For instance, never give someone like Lexis your bank account information. You’ll regret it if you do.
A month ago I converted from Quickbooks desktop to Quickbooks online for bookkeeping. Converting my data from the desktop to online version went smoothly. As with all cloud based software, it works better on the cloud than on my desktop. Now I don’t have to worry about Quickbooks desktop crashing my computer, which happens.
On the surface, Quickbooks online is more expensive than the desktop version. I think I paid $300 for a year and it will go up to $500 per next year. You can buy QB desktop pro for $300.
But desktop software is more expensive to run. Desktop Quickbooks is a bit janky. It requires regular updates. I had to get IT involved with it at least a couple of times a year. Those costs offset any savings from using the desktop version.
Online QB navigates differently. I am still getting used to that. But it’s a better solution than desktop.