TRUST ACCOUNTING FOR LAW FIRMS
If your trust records are behind, do not balance, or take too much time each month, start with a conversation about where things stand. We’ll discuss whether you need cleanup, ongoing support, or a focused engagement.
Each service is available on its own. You do not need to be a CFO client.
For firms with unreconciled periods, unexplained differences, or incomplete client and matter records. We investigate differences, correct agreed issues within the engagement scope, and document unresolved items and next steps.
Your quote depends on the affected periods, records, and complexity. We agree on the scope before work begins, rather than promise a completion date before seeing the records.
For firms that want recurring help keeping trust records and reconciliations current. Monthly support can include three-way reconciliation, client and matter balance checks, an exceptions list, and documented reports for the law firm to examine.
Your proposal defines the deliverables and fee based on trust accounts, activity, platform, and condition of the records.
For a firm that believes its trust records are in good order and wants another set of eyes. This focused engagement examines the agreed records and reconciliation process, identifies gaps, and documents findings. It is separate from cleanup and monthly reconciliation.
For a firm that knows something is wrong but is not sure why. We investigate the agreed periods and records, identify differences and likely causes, and explain the next steps. You can then decide what your team can fix and where you need hands-on help.
These are consulting engagements, not financial statement audits, reviews, or assurance services. Scope and fees are agreed before work starts. No result is a guarantee of compliance or a certification of the trust account.
We enter transactions and agreed corrections when your system permissions allow it. Otherwise, your law firm enters them.
Your firm retains its records and examines completed reconciliations.
The engagement does not give us authority to move client funds. Any movement of funds requires client permission and the applicable safeguards.
Your lawyer remains responsible for the firm’s trust obligations and current jurisdiction rules.
We work with cloud-based trust platforms, including MyCase, Clio, and TrustBooks. We confirm access, available reports, and the work we can perform in your system before agreeing on scope.
General or operating bookkeeping, payroll processing, and tax preparation are not offered. CFO services are a separate option.
Yes. Cleanup, monthly support, and focused trust engagements are available independently of CFO services.
Not every firm does. We first discuss whether past differences or incomplete records need attention before starting a monthly routine.
Expect to provide bank statements, transaction records, client and matter ledgers, prior reconciliations, and information about unexplained differences. The exact list depends on your engagement.
Yes. We agree on responsibilities so your team knows who enters transactions, supplies records, and examines completed reconciliations.
Common causes include missing entries, timing differences, and client ledger errors. A diagnostic engagement helps identify what is happening in your records rather than guessing.
It compares the adjusted bank balance, the trust journal balance, and the total of individual client ledgers. All three must agree. Your jurisdiction’s rules govern the records and timing.
Why Your Trust Reconciliation Won’t Balance: Complete Guide for All 50 States & DC, by Kelley Brubaker, CPA, explains the records behind reconciliation and the rules to check for your firm.
Sold exclusively on Amazon. The book is educational, not legal advice. Always check your current state rules.