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Reyes & Mendoza, P.A. — Law Firms
Bringing Trust Accounting Back Into Compliance
A six-attorney litigation firm got its IOLTA account reconciled and its matter profitability visible for the first time.
The challenge
Reyes & Mendoza's IOLTA account hadn't been three-way reconciled in over a year, and the managing partner was concerned about a bar audit. Client costs advanced for filing fees and experts were paid from operating and rarely billed back. Clio and QuickBooks disagreed on nearly every matter.
What we did
We performed a full three-way reconciliation of the trust account against the bank statement and individual client ledgers, resolving every discrepancy. Advanced client costs were identified, matched to matters, and billed. We integrated Clio with QuickBooks so time, billing, and trust transactions flow automatically, and set a monthly reconciliation cadence with sign-off.
The outcome
The firm passed a subsequent bar trust-account review without findings, recovered $62,000 in previously unbilled costs, and now sees profitability by practice area monthly.
“I sleep better knowing the trust account is reconciled every month by people who understand what the bar expects.”Elena Reyes, Managing Partner, Reyes & Mendoza, P.A.
