Trust Accounting in Xero

Posted by | October 14, 2014 | Accounting | No Comments

As an accounting firm, one of the most rewarding feelings of being in a niche is being able to speak the language of the people you are working with every day.

When you are spread thin and working with all types of businesses, it can be hard to make connections and truly understand the problems people are dealing with.

For several months, we have committed to understanding the world of small law firms and providing the best bookkeeping they could expect.

As we have become experts in the field, it has been great to not only serve our clients but to help others in the field who are just now learning some of the finer details of trust accounting or doing law firm bookkeeping in Xero.

That’s why it was humbling to have the chance to work with a friend in Australia this week, who really needed some help. She had posed a question on Linked In and our team had the chance to work with her to make the problem much simpler.

Here is what she said after spending time with our team:

“I recently had a confounding issue with managing our Solicitor’s Trust Account function within our Xero accounting software. Andy Peterson from Kahuna Business Solutions reached out to me through a Xero group discussion and his very capable team, via a Go To Meeting, got right to the nub of the issue. As a non-financial person, it was fantastic to talk to the team who understood the commercial realities of running a law practice, combined this with accounting know-how and an expert knowledge of Xero, to solve the problem I was facing. Whilst lots of people understand one or two elements of the puzzle, having a team who could work with me from a conceptual stand point right down to the minutia of the ultimate solution – all the while communicating in a logical, respectful fashion – was truly a refreshing experience. Thank you Kahuna Business solutions.”

We don’t want to pat ourselves on the back too hard, but it certainly feels good to provide meaningful help in a field we have immersed ourselves in. Keep that in mind as you serve your customers. What do you want to be known for? What do you want to be THE expert in?

See the Linked In thread here, and if you have any questions about how to do law firm bookkeeping in Xero, feel free to reach out!

Leave a Reply