Month: June 2026

Bookkeeping is rarely the reason someone opens a law firm. However, as a practice grows, financial recordkeeping can begin taking more time, creating more stress, and exposing the firm to unnecessary risk. Law firm bookkeeping involves more than tracking revenue and expenses. Depending on the …

Law firms should generally reconcile every trust account at least once each month. For Florida attorneys, monthly trust account reconciliation is not merely a bookkeeping recommendation; it is part of the minimum trust accounting procedures required under the Rules Regulating The Florida Bar. A proper …

At first glance, bookkeeping for a law firm may appear similar to bookkeeping for any other small business. Both involve recording income and expenses, reconciling bank accounts, paying bills, tracking payroll, and preparing financial reports. However, law firms face financial responsibilities that most ordinary businesses …

Managing an Interest on Lawyers’ Trust Account, commonly called an IOLTA or IOTA account, requires careful recordkeeping and consistent oversight. Even a small bookkeeping error can create confusion about who owns the money in the account, whether client funds are properly protected, and whether the …

Managing an Interest on Lawyers’ Trust Account, commonly known as an IOLTA account, involves more than checking whether the balance shown by the bank appears correct. Law firms must also maintain detailed records showing exactly how much money is being held for each client. Three-way …