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Legal Accounting Three-Way Trust Reconciliation Template - LiveFlow x Proper Trust

A free template to perform 3-Way Trust Reconciliation between your Bank Balance, Trust Ledger and Client Ledger.

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Compatible with

Excel

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Integrations

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Live data

LiveFlow

Legal Accounting Three-Way Trust Reconciliation Template - LiveFlow x Proper Trust
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Learn how to set up this template in the video below

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How To Use The Three Way Trust Reconciliation Template?

  • Connect your company using LiveFlow
  • Paste in your balance from your bank statement and data from your trust ledger practice management software
  • Select the account from your balance sheet that shows your client trust liability data
  • Add data for any missing entries, uncleared cheques or deposits
  • Done! You have a print-ready summary tab ready to go where you can input a summary of all your findings!

Get started in 3 simple steps

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1. Import the template

1. Request access

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2. Connect LiveFlow

Connect to LiveFlow, so you can import live data to your model.

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3. Customize it

Customize the template into anything you like.

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What is 3 Way Reconciliation?

Three-way trust reconciliation is a vital process mandated by state bar associations for attorneys managing trust accounts. This monthly or quarterly practice involves reconciling the Trust Ledger, Client Ledger, and Trust Bank Statement. The three steps include:

  • Reconcile Your Bank Statement Balance
  • Compare Your Records to Trust Ledger
  • Reconcile Trust Account Statement with Client Ledgers

The aim is identical numbers across trust ledger, client ledger, and trust bank statement, ensuring compliance and preventing potential issues. While some states allow a simpler two-way reconciliation, a comprehensive monthly reconciliation is advisable for accuracy and integrity. You can read more about this activity here.

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