How to Perform A Three Way Reconciliation
A three-way trust reconciliation involves three components that must match. If the three numbers don't match, you have to investigate to kno
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Sep 17, 20212 min read
A Visual Guide to Understanding Three-way Reconciliation
Managing trust accounts means you should understand three-way bank reconciliations. Regardless of whether your state calls it an "IOLTA...
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Sep 7, 20215 min read
How To Set Up The Chart Of Accounts For Law Firm Clients
Lawyers and law firms have specific financial needs that are unique to their industry. When a lawyer decides to make the jump from being...
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Aug 25, 20216 min read
Financial Fundamentals in Accounting for Law Firms
TABLE OF CONTENT Get to love your numbers Financial statements - Make it easy Balance Sheet (B/S) Profit & Loss Statement (P&L) Get to...
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Jul 27, 20213 min read
How Is Legal Accounting Software Useful In Law Firms?
There is no doubt that technological advances can support the business to improve and gain competitive advantages in the market and law...
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Feb 3, 20213 min read
4 Common Accounting Pitfalls Law Firms Must Avoid (2023 Updated)
- There is no Money In and Out of the fund (no flow of transactions)
- Overdraft client ledgers at the transaction level.
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Dec 7, 20202 min read
Trust Account Reconciliation: What Is Three Way Reconciliation?
For trust account management, this reconciliation process is one of the most important aspects of maintaining compliance and administration.
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Jun 23, 20202 min read
Three-Way Reconciliation Of Your Trust Account
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...
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