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Trust Reports CosmoLex

Tech Tip #186: QuickBooks Lacks the Trust Reports Needed By Law Firms

Trust accounting is much more in-depth and more heavily scrutinized than your firm’s operating accounting. It requires that a three-way reconciliation is performed monthly. QuickBooks can break down activity and balance by matter, but it doesn’t allow firms to run reports breaking down book balance, bank balance, and the sum of individual card balances- which are all necessary for law firms to remain compliant. Do you still think that you can make QuickBooks work for your law firm? Learn more about the 7 Reasons to Run a QuickBooks-Free Law Firm

CosmoLex Team