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Tech Tip #197: Trust Accounting Risks: Lenient Management of Matter Ledgers

Tech Tip - Trust Accounting Risks: Lenient Management of Matter Ledgers

Attorneys need to strictly manage their matter ledgers. Failure to do so can result in overdrafts or the commingling of client funds. All of this can result in ethics violations and other infractions. Aligning your firm’s billing and accounting systems can go a long way in mitigating this risk. Learn more about 5 Trust Accounting […]

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5 Trust Accounting Risks that Affect Your Bottom Line

Trust Accounting Risks

Trust accounting is not just about reconciling and regular reporting; the fact that client retainers can also be held in a trust account necessitates that both billing and accounting activities take place daily. When not handled properly, however, bridging that gap can be risky, particularly when a firm is earning funds from a trust. Inaccuracy […]

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Tech Tip #195: Three Pitfalls of Using Client Retainers

Tech Tip - Client Retainers

Most attorneys use client retainers to maintain positive cash flow for their firm. It’s important to be aware of the most common pitfalls associated with client retainers. If your firm is using retainers make sure you have the proper recording structure in place to keep track of all funds accurately, have a retainer replenishment method […]

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