QBO+LL Receive the Retainer

Hi there, Linda Artesani, Artesani Bookkeeping, back for the next round. And this is a simple one. It's going to be recording the retainer. So you're collecting the money upfront, you meet with your client, the client gives you some money, a deposit that you're going to hold in trust until the work is done and you are— the revenue is recognized and you receive the money and move the funds to the operating account to show that you've been paid. So we're just going to show the receiving of the retainer and how that's handled in LeanLaw. So let me share my screen. So here we are once again with Suzanne Keir. We want to show that she's received— she's paid us a retainer. So we've met with her, we've talked to her about her estate planning, and we've set it up to start to do the work for her. So let me receive the retainer. So again, how would you receive the deposit? You're going to come over here and deposit into trust. So I'm just going to click deposit into trust. I have to pick the client again. So I'm going to pick Suzanne. So automatically going to populate her estate planning. If she had more, there'd be a dropdown list, but there's not. And I'm going to say it's going to cost her $5,000 for this estate planning. The source is going to be the check that she paid me, paid me with. And then you can put any other details in here. This is going to show up now on the actual transactions in LeadLaw and QuickBooks. So you can put as many details in here as you would like. I'm going to record the deposit. Now you can see here for Suzanne Keir, she's now paid us $5,000 to hold in trust until we start to do the work and generate the invoices to recognize the revenue on the law firm side. So it's that easy to create a client. And now we've moved into receiving the deposit for the retainer. So next video, we're going to talk about how to create the other part of the workflow, recognizing the revenue.