Trust Accounting in Confido Legal

Do you have practice management or accounting software that does your trust accounting? Great. This post is NOT for you.

This post is for the firm that doesn't have practice management or accounting software that supports trust account reconciliation.   

We've written a lot about the topic of trust accounting. Many of the cool platforms with which Confido Legal integrates have trust accounting features. For example, here's how to use the Confido Legal-QuickBooks integration for trust accounting. But maybe you...gulp...don't use practice management or accounting software, or maybe you use industry-generic software that doesn't support trust account reconciliation. If that is the case, consider using Confido Legal to perform your trust accounting. 

With Confido Legal, you can:

  • Create starting trust account balances by client and matter
  • Record all payments by client and matter - even if they were made by cash or check
  • Make and record trust-to-operating transfers (yes, you can move that money with Confido Legal or simply record transfers made through your bank)   
  • Transaction report filters allow you to easily view your trust account balance by client and matter
  • Export your report to perform a three-way reconciliation

To see how you can use Confido Legal's free, simple trust accounting option, find some time with our team using the demo link below.

Need expert accounting and bookkeeping help? Drop us a line, and we'll help you get connected with a finance and accounting expert well-versed in the nuances of trust account reconciliation.

Back
Let us help reduce the cost and improve the client experience associated with accepting payments.

Related Articles

Episode 3: Why do trust accounts even exist? And why should we care?

We get nerdy this episode talking accounting, trust accounting, and regulatory jazz with Lainie...

Retainers Without the Trust Account - Payments on File for Law Firms

Trust or IOLTA accounts evoke feelings of fear and frustration. Untangling trust accounting...

Virtual Learning: Credit Card Fees for Law Firms

For many law firms, credit card processing fees are a sizeable item on the income statement....