As a law firm, you have decided to go with one of the modern cloud-based legal software. The promise of ease of use has encouraged you to embark on the bookkeeping journey yourself. You have setup up a generic chart of accounts as recommended or defaulted by the software package. You started billing. However, soon enough, you run into issues, and one of the common questions is:  "Why doesn't my trust account balance?"

 

Legal cloud-based software packages provide automation that is enticing. However, details and overall outcome goals need to be considered when planning a legal bookkeeping setup. One size does not fit all applies here, too. Fine adjustments in bookkeeping setup are required depending on your firm's particular needs.