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IOLTA (Trust) Account Self-Audit

Monthly, this bot performs a self-audit on the Client Trust bank account.

Industry:

Legal

Finance/Accounting

Function:

Case Management

Law Firm Management

Steps

  1. Check to make sure there are no split deposits.
  2. Check to make sure there is a Client Trust Ledger for each client.
  3. Check to make sure there are no deposits going in to the Trust account other than credit card fee adjustments.
  4. Check to make sure the checkbook trust balance matches the bank balance and matches the individual Client Trust Ledger.
  5. Check to make sure the Client Name and Matter appear on the memo line of every check.
  6. Check to make sure Interest is accounted for correctly.
  7. Update Audit Log and send final report to distribution list.

Popular Applications

Our services are not limited to these applications. This bot is available for any cloud based application.

Bill.com
Bill.com
Crunch Accounting
Crunch Accounting
FinancePal
FinancePal
FreshBooks
FreshBooks
Infor
Infor
Microsoft Dynamics GP
Microsoft Dynamics GP
NetSuite
NetSuite
ProfitBooks
ProfitBooks
QuickBooks
QuickBooks
Sage Intacct
Sage Intacct
SAP
SAP
Xero
Xero
ZarMoney
ZarMoney
Zoho Books
Zoho Books

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