We have prepared the following overview to help you understand how the transactions you import from Clio into QuickBooks Desktop will affect your books. For a list of what you can export from Clio to QuickBooks Desktop, please refer to this article.
This chart assumes you are using the default chart of account set up when you open a new legal industry company in Quickbooks Desktop.
Clio Transaction |
QuickBooks Desktop Entry |
|
Bill Payments to Operating Account |
Debit: Undeposited Funds Credit: Accounts Receivable |
|
General Operating Account Deposits |
Debit: Checkings Credit: Undeposited Funds |
|
Trust Deposits |
Debit: Client Trust Account Credit: Trust Account Liability |
|
Withdrawal from Operating |
Debit: Uncategorized Expense Credit: Checkings |
|
Withdrawal from Trust |
Debit: Trust Account Liability Credit: Client Trust Account |
|
Bill Creation |
Debit: Accounts Receivable Service Credit: Legal Fee Income Expense Credit: Advanced Client Costs |
Advanced Settings
Please note it is not recommended that you change these settings unless you are very familiar with Quickbooks Desktop and Accounting.
If you want to change the default accounts that Clio uses for the Exports, click HERE for Clio's QuickBooks Desktop settings. The Account Number is not required, only the Account Name.
On this page, you can change which accounts you want Clio to use with the exports. The defaults are:
If you ever need to reset these options back to the default mappings, delete the contents of the field(s) that you want to reset and click the "Update QuickBooks Export Options" button. Once the screen reloads, the field will be reset back to its default mapping.