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Case Study 4

A short description of the case study
Client
Attorney and Law Firms

Client Needs:

  • Aligning trust bank balances with client trust account balances
  • Integrating the right tools for the job.
  • Keeping compliance to prevent attorney from being disbarred

Our Approach
Summary & Strategies we implemented

In the line of business that involves state and federal laws, it is utmost important to track the retainers from clients. Clients give attorneys money in advance to perform certain services. Sometimes attorneys must pay for expenses related to the cases on behalf of the client. This money comes from the trust retainer account and must be carefully tracked. This has far been the greatest challenge for most attorneys while using QuickBooks. The secret is to find a proprietary software that exports the transactions in a readable format to import into QuickBooks or Xero online. I know of some of the best software solutions and processes. These processes and solutions can save the attorney from being disbarred and further, from wasting lots of time trying to synchronize all events in each different software. Knowing the balance for each client with regard to the trust account is paramount and absolute for law firms.

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