IOLTA accounting is where most personal injury firms quietly go wrong, because the rules are not intuitive: client money in an IOLTA account is not income, advanced client costs are not expenses, and a single miscategorized entry can put your books out of compliance with Rule 1.15. This complete guide explains IOLTA accounting the way a bookkeeper does it — which account type each dollar belongs in, why trust funds sit as a liability, why advanced costs sit as an asset, and h
