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A three-way trust reconciliation involves three components that must match. If the three numbers don't match, you have to investigate to kno

Managing trust accounts means you should understand three-way bank reconciliations. Regardless of whether your state calls it an "IOLTA...

Lawyers and law firms have specific financial needs that are unique to their industry. When a lawyer decides to make the jump from being...

TABLE OF CONTENT Get to love your numbers Financial statements - Make it easy Balance Sheet (B/S) Profit & Loss Statement (P&L) Get to love your numbers If you are a lawyer doing solo, or you have your law firm and it terrifies you with just a flash of thought about financial statements, named it financial fear, then you come to the right place. “I’m confused. Those numbers make no sense to me”. You might have heard of this before from your fellow attorneys. That’s fine. When

There is no doubt that technological advances can support the business to improve and gain competitive advantages in the market and law...

- There is no Money In and Out of the fund (no flow of transactions) - Overdraft client ledgers at the transaction level.

For trust account management, this reconciliation process is one of the most important aspects of maintaining compliance and administration.

At the end of every month, it is time for you to reconcile your trust bank account. This lets you confirm that your transaction records...