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ease
features
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support

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Description

To initiate a reconciliation, one should start by examining the closing balance of the General Ledger in comparison to the sub-ledger or other pertinent documents, which may include bank statements or third-party records. Any discrepancies identified between these sources must be thoroughly investigated, measured, and resolved whenever feasible by making the necessary adjusting entries in either the general ledger or sub-ledger. It is also essential to document any anomalies as reconciling items to maintain transparency throughout the process. Ultimately, the balances should align perfectly and be substantiated with all accompanying documentation linked to the reconciliation. The review process is crucial for confirming the completeness of the reconciliation, and incorporating an additional approval layer can enhance confidence in its accuracy. Moreover, establishing a robust framework along with a standardized process can significantly streamline and enhance the efficiency of the reconciliation process at the end of each month. This not only fosters consistency but also aids in identifying potential issues much earlier in the cycle.

Description

Streamlined workflows tailored for law firms ensure you have a clear understanding of your tasks. With seamless integrations to the top legal technology platforms, you can conserve time and resources while managing your practice. This software is specifically crafted for attorneys, enabling you to efficiently handle all your firm's accounting requirements. Eliminate the hassle of duplicate data entry through integrations with online banking and legal software. You can transfer funds from your trust account to your operating account with ease. The automatic Three-Way Reconciliations help you maintain compliance with state bar regulations regarding your trust account. Client ledgers are updated automatically when transactions are recorded in your trust account, enhancing accuracy. The system includes built-in safeguards, such as preventing negative client balances, to ensure you adhere to state bar rules. Additionally, each reconciliation generates Three-Way Trust Reconciliations automatically, making compliance management even more straightforward. This approach not only simplifies your financial processes but also provides peace of mind knowing that all regulatory requirements are being met effectively.

API Access

Has API No 

API Access

Has API No 

Screenshots View All

Screenshots View All

Integrations

No details available.

Integrations

No details available.

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

$49 per month
Tier One: $49 per month
Tier Two: $69 per month
Tier Three: $199 per month
Free Trial Yes 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows Yes 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars Yes 
Live Training (Online) Yes 
In Person Yes 

Vendor Details

Company Name

RecWise

Founded

2017

Country

Australia

Website

www.recwise.com

Vendor Details

Company Name

TrustBooks

Founded

2014

Country

United States

Website

trustbooks.com

Product Features

Audit

Alerts / Notifications No 
Audit Planning No 
Compliance Management Yes 
Dashboard Yes 
Exceptions Management Yes 
Forms Management No 
Issue Management No 
Mobile Access No 
Multi-Year Planning No 
Risk Assessment Yes 
Workflow Management Yes 

Product Features

Trust Accounting

Accrual Accounting No 
Activity Tracking No 
Asset Gain & Loss Reporting No 
Check Writing Yes 
Compliance Management Yes 
Cross Ledger Posting No 
Customer Statements Yes 
Fee Calculation & Posting No 
Receipt Management No 
Tax Management No 

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