Bookkeeping and Tax Preparation for Attorneys
Are you worried about new California Bar ruling? Do you need help with your bookkeeping? Does your current understand IOLTA / Trust accounting? Do they do the reconciliation every month? Are you losing money because you forgot to invoice ?
We have a solution. We could help you with your bookkeeping.
Here is the new standard from the CalBar:
A lawyer shall, from the date of receipt of funds of the client or other person* through the period ending five years from the date of appropriate disbursement of such funds, maintain: (a) a written* ledger for each client or other person* on whose behalf funds are held that sets forth: (i) the name of such client or other person;* (ii) the date, amount and source of all funds received on behalf of such client or other person;* (iii) the date, amount, payee and purpose of each disbursement made on behalf of such client or other person;* and (iv) the current balance for such client or other person;* (b) a written* journal for each bank account that sets forth: (i) the name of such account; (ii) the date, amount and client affected by each debit and credit; and (iii) the current balance in such account; (c) all bank statements and cancelled checks for each bank account; and (d) each monthly reconciliation (balancing) of (a), (b), and (c).
It's based on this recent CA Supreme Ct approval ruling in October:
https://www.calbar.ca.gov/About-Us/News/News-Releases/california-supreme-court-approves-client-trust-account-protection-program
