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Law firms are required to hold money in trust. This money is not their own, so they have a fiduci...
Law firms are required to hold money in trust. This money is not their own, so they have a fiduciary responsibility to protect and account for it.
A lawyer’s responsibility to hold client funds separate from their own seems simple in principle, but with strict rules surrounding trust accounts, many lawyers run into challenges with maintaining them correctly. From documenting deposits and disbursements to handling varied payment methods by clients, trust accounting remains a compliance minefield for law firms.
Is your law firm at risk of committing trust account errors?
Learn how to avoid trust account mistakes while improving your firm’s billing process during Clio’s one-hour webinar. In this presentation you’ll learn:
The rules for managing trust accounts
Differences between general bookkeeping & legal accounting
How to reconcile trust accounts
How Clio’s newest trust accounting features can help