Trust Accounting

The Practice Information Powertool now comes with a completely integrated Client Trust Accounting module. The Client Trust Accounting features in the PIP system adhere to the standards for Interest on Lawyer Trust Accounts (IOLTA).

The Client Trust Accounting module will automatically post an entry in the Client Ledger when a Payment is entered, and when a Payment is Applied to an Invoice, minimizing data entry time and increasing data accuracy. The Date Range filter in the Account Journal provides a convenient way to determine "end of month" account balances. Client Trust Accounts can be reconciled with "Adjustments" that can be entered as required to reflect the "corrected" balance on accounts.