Establish Confident Law Firm IOLTA Accounting and Trust Accounting Processes

Our team can pinpoint the software you need to manage your client trust liabilities and red-flag any violations before they happen.

Organized Client Trust Liabilities


Automate your financial data entry so that every number is accounted for.

Accurate IOLTA Reconciliations


Simplify the reconciliation process to ensure balance between your client’s trust ledger and your operating account.

On-Demand Trust Reporting


Produce dependable trust reports quickly and on-time.

Don’t Put Your Law Firm at Risk

  • Are you relying on paper records to track your client’s trust ledger?
  • Can you quickly transfer funds between accounts?
  • Do you and your staff waste time salvaging trust reports when they are needed to satisfy compliance regulations?
  • Could your staff be spending their time on billable hours rather than learning the intricacies of trust account reconciliation and reporting?
  • Is your law firm liable to pay a fine or penalty for not meeting the trust accounting regulatory compliance standards?

Ensure IOLTA Account Compliance With Lescault & Walderman

IOLTA accounting can forge a credible partnership between you and your client. However, if mishandled, you are not only putting your client’s confidence at risk… you are also putting your entire law firm in jeopardy. Save yourself the trouble.

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Law firm trust accounting can be tricky. State Bars impose strict reporting requirements with little margin for error. Firms must adhere to a particular process while managing a client trust account and appropriating funds.

At Lescault and Walderman, our accounting experts recognize the process in its entirety: from collecting the client’s retainer, transferring funds between accounts at the proper time, and balancing the ledger.

Reliable IOLTA accounting services must start with accurate record keeping. If you cannot report every dollar flowing between each account, your firm may be susceptible to infractions down the road.

When it is time to pay the bills, ignorance is no excuse. Comingling funds between your client’s trust account and your operating budget can lead to substantial fines or even disbarment. It is astonishing how often this happens.

Each state has specific IOLTA accounting requirements that should not be taken lightly. If you are unclear about any regulations, you may in fact be managing your client’s trust account unlawfully.

Your ability to diagnose issues with your client trust accounting practices can save you a lot of pain down the road. With the right processes and proper guidance, your firm can mitigate any chance of risk and build lasting relationships with your clients.

Here's how to get started:

1. Schedule a No-Obligation Call

Your time is valuable, and we don’t want to waste it. Let’s schedule a discovery meeting so we can discuss your needs and confirm there’s a fit.

2. Receive Your Accounting Review

We'll review your accounting documents, then provide you with a customized report that includes our findings and our recommendations for moving forward.

3. Attend Review Meeting

We'll host up to a 2 hour meeting to review our findings and recommendations, answer any further questions and outline how we'll work together.

4. Review Your Proposal

Working from our review, we’ll provide clear and actionable recommendations for improvement related to your particular processes, software, and systems.

5. Engage Us For Your Needs

If you approve of our recommendations, you’ll sign an engagement letter and we’ll start work!

Download our free guide to help grow your business:

3 KPIs to Track and Successfully Manage Your Law Firm

Frequently Asked Questions

Clients trust law firms to hold their money securely in lawyer trust accounts. However, managing IOLTA trust accounts is complicated and needs to be handled by professionals. Outsourcing ensures that client funds are managed with integrity and in accordance with trust accounting rules. Successful management can be measured by key metrics, including:

  • Tracking account activity: deposits, withdrawals, and interest
  • Reconciliation of trust fund accounts to ensure balances match
  • Monitoring long-term client trust accounts with little activity

(Read more about The Role of Technology in Modern Law Firm Accounting Practices)

Outsourcing financial services, including IOLTA and trust accounting metrics, to law firm accounting specialists ensures accuracy and regulatory compliance for you and your clients.

Managing IOLTA trust accounts is complex, especially when it comes to state and federal trust accounting rules and ethics. Outsourcing IOLTA trust accounting to financial services professionals ensures your clients’ trust accounts comply with industry regulations and are managed transparently and responsibly. 

Additional solutions include:

  • Low risk of errors
  • Less admin, which frees up time for more productive, billable work
  • External management of lawyer trust accounts increases objectivity and reduces conflicts of interest
  • Off-site data security and back-ups ensure client confidentiality and protect sensitive information

(Read more about establishing accounting systems in new law firms)

Outsourcing complex trust fund account management benefits both you and your clients. It’s the best solution if you want to overcome IOLTA and trust accounting challenges.

Outsourcing IOLTA trust account management has numerous benefits for you and your clients. For instance, lawyer trust accounts are handled more efficiently and ensure compliance with industry regulations and trust accounting rules.

Additional benefits include:

  • Independent management ensures client trust accounts are handled ethically
  • Expertise in law firm accounting increases accuracy in management and reporting
  • No dedicated in-house accountant enables you to increase your staff complement of lawyers
  • Staff aren’t bound by mundane admin but can focus on their core activities
  • Outsourced trust fund accounts are more secure, sensitive data is well-protected, and account information remains confidential

(Read more about the factors to consider when buying accounting software for law firms)

Outsourcing IOLTA and trust accounting enables your staff to focus on the work they do best, increasing billable hours and revenue.