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IOLTA: Tracking is ALL about the Details

By | Recordkeeping 101 | No Comments

Not every legal firm has IOLTA’s, but those that do know that proper accounting of their client trust accounts is essential in keeping their license and practice open. The problem is, when you built your practice you weren’t given any clear guidance or training on how to account for these funds. The following is the ADI Accounting Team recommendations for proper IOLTA accounting. The Basics As the managing partner of your firm, you have a lot on your plate that includes supervising your team of both legal and administrative team members not to mention, planning and handling growth. A few…

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