Tech Tip #203: Your Firm Shouldn’t Use General Accounting Software For Trust

CosmoLex TeamCosmoLex Blog, Tech Tips, Trust and Retainer Accounting

Trust accounting requires legal-specific accounting, so the system your firm uses to manage its trusts should be legal-specific. General systems require workarounds to create the appropriate ledgers and reports and even then it will not provide the appropriate safeguards against overdrafts, commingling, and deposits that aren’t associated with a matter. Learn more about Trust Accounting Challenges That Are More Than Just Accounting.

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