Clio does have the capability to handle the accounting of client matters – fees, expenses, etc. It also allows you to track your time, invoice clients, receive payments from clients, document payments received from other sources, etc. And, it allows you to reconcile the accounting of client matters with both your trust and operating accounts.
Clio does not have the capability, by itself, to handle the overall accounting of your law firm. For that, you can use one of its various accounting integrations--for example, QuickBooks.
They are very clear that they do not do accounting, I suspect that when they integrated with QuickBooks they signed an agreement to not provide that service. QuickBooks online does talk with Clio and if you get everything set up they do merge.
You can do much of your accounting in their system but I generally just use it to double check my trust accounts.
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