How do I perform a monthly trust reconciliation
Monthly trust reconciliations are mandatory in all Australian jurisdictions and must be completed within 15 working days of month-end. Steps in Law App:
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What trust reports are required for compliance
Each jurisdiction has its own requirements, but minimum reports for audit and internal control include: Monthly: Trust Reconciliation Report Trial Balance (by file) Trust Ledger (by client/matter) Receipts & Payments…
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Can I generate trust statements and audit logs
Absolutely. For audits, file reviews, and transparency with clients, Law App offers: Trust Statement (by File): Complete transaction history with running balance. Trust Ledger Summary: By file, client, or date…
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What happens if my trust ledger doesnt match the bank account
This is flagged as a breach in most jurisdictions, and reconciliation must be corrected immediately. Steps to resolve: Check for unpresented cheques or EFTs. Confirm deposits were entered correctly with…
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Handling Transit Money under Queensland & NSW Guidelines
What is Transit Money? Transit money refers to funds received by a law practice with instructions to pay or deliver them to a third party (not the client). These funds…
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