Using Trust Accounting Software To Demystify 3-way Reconciliation

By Author: Mayank Kapur
Total Articles: 277
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There's a good reason you didn't go to business school. Or become an accountant. As you look at your state's Rule Book, and read the same sentence four times, you know exactly what that reason is. You don't like numbers, and you never will.
So when you look at your bar's requirement to perform a three-way reconciliation, you're peeved. Luckily, our trust fund accounting software makes things super easy. It does what all good automation systems should. It takes out the thought process, and just mechanizes everything.
What is a 3-Way Reconciliation?
Well, you know what a reconciliation is. You take one balance, and compare it to another, and make sure they're the same. What that means is: nothing's been left out in the cold, or over-added, or taken out of left field. To mix metaphors.
A typical reconciliation involves pitting your book balance (which shows payments made and received, etc.) against your bank balance (which shows actual money being moved around).
Now, pay attention. A 3-way reconciliation adds one additional element. ...
... It adds your individual client ledgers. That way, if there is a discrepancy, you can spot it immediately. Or, you can settle in your mind that everything's peachy this month.
So what doestrust accounting software have to do with it?
Simple. Enter the numbers once into Easy Soft's Easy Trust software , and the software generates all the numbers for you. You don't have to think about it, or figure out how to do it: you just have to remember to do it. With the click of your mouse, it's there!
Easy, right? We know

Author Bio

Easy Soft specializes in helping law firm with law office software. Easy Soft has automated software solutions for virtually every practice area, from legal billing and trust accounting software to divorce settlement.