The key to appropriately managing a client trust account is having a system in place that will alert the attorney as soon as possible that a transaction may have been entered erroneously.  Several simple, monthly checks will help you discover errors quickly.  In Part 1 of this series, we considered the importance of ensuring that the total balance in the trust bank account always matches the total balance in the client trust liability account.  Here, we discuss why a credit balance in the Client Trust Liability account, or a debit balance in the Trust Bank Account, is a big red flag.Continue reading→

The key to appropriately managing a client trust account is having a system in place that will alert the attorney as soon as possible that a transaction may have been entered erroneously.  Several simple, monthly checks will help you discover errors quickly.  In the first of this series, we look at the importance of ensuring that the total balance in the trust bank account always matches the total balance in the client trust liability account.Continue reading→