Law firms must follow strict trust accounting rules, and bar associations may conduct random audits requiring detailed records and monthly 3-way reconciliations.
In states such as New York and New Jersey, law firms must maintain detailed trust accounting records and be prepared to provide them quickly if requested during a bar association audit.
Because trust accounting errors can have serious consequences for attorneys, we focus on helping law firms maintain clear records, accurate reconciliations, and organized financial systems.
At Lazar Accounting Solutions, we help law firms maintain organized financial systems and ensure trust accounts and financial records remain accurate and compliant.
We specialize in law firm bookkeeping, with a focus on trust accounting, 3-way reconciliations, and maintaining organized financial records for legal practices.
Lazar Accounting Solutions provides law firm bookkeeping and trust accounting support for attorneys in New York and New Jersey.
Our services include:
Missing or incomplete 3-way reconciliations
Trust accounts that don’t match client ledgers
Negative client balances in trust accounts
Bank fees accidentally reducing client funds
Disorganized or incomplete client trust ledgers
Difficulty producing records during a bar association audit
We help law firms organize their financial systems, correct these issues, and maintain accurate records going forward so they can remain compliant and prepared for any review.
Maintain accurate trust and IOLTA accounting records
Perform consistent monthly 3-way reconciliations
Keep client ledgers and trust balances organized
Stay prepared for potential bar association audits
Our goal is to help attorneys maintain financial systems that are organized, compliant, and easy to manage.
The firm has never been performing monthly 3-way reconciliations
A bar association audit notice has been received
Trust account balances do not match client ledgers
The firm is unsure whether trust accounting rules are being followed correctly
A new attorney or partner is taking over financial oversight of the firm
If any of these situations sound familiar, it may be a good time to review your firm’s trust accounting records and reconciliation process.
If your firm needs help maintaining accurate trust accounting records and monthly 3-way reconciliations, or organizing its financial systems, feel free to reach out for a consultation.