We Manage IOLTA Accounts for Attorneys in the Tampa Bay Area
When your law firm is balancing dozens, if not hundreds, of cases for clients who expect top-tier representation, balancing the books is probably the last thing on your mind. However, keeping accurate records of money moving through IOLTA accounts for open cases is crucial for the success of your firm. After all, more than one lawyer has mismanaged client money and found themselves on the wrong side of the courtroom. So, why not save yourself a headache—and potentially some trouble—by turning to the professionals at A&W Associates for top-tier legal bookkeeping services? We’re proud to serve attorneys in Wesley Chapel, Florida, and throughout the Tampa Bay area to manage their finances and keep track of IOLTA accounts. We’d be happy to do the same for you.
The Importance of Well-Maintained Accounts
As a seasoned attorney knows, IOLTA accounts exist to hold a client’s retainer fees in safekeeping during a case. As an attorney works, they bill clients for the hours and collect the appropriate money from the account. The process seems simple enough, but all too often a legal team will fall into the trap of mismanaging these funds by:
- Borrowing unearned money from the account to pay firm bills
- Comingling attorney and client funds by depositing client money directly into business accounts
- Improperly tracking which client’s money is going into what account
Whether caused intentionally or through oversight, these mistakes have dire consequences. Some attorneys even find themselves disbarred after mismanaging IOLTA accounts, which is why many turn this important task over to a professional legal bookkeeper.
Why A&W Associates?
When you turn to A&W Associates for legal bookkeeping services, you can rest easy knowing your firm’s finances are in good hands. Our team possesses special training and more than 25 years of experience, allowing us to keep detailed and accurate records of the money moving through IOLTA accounts and into your firm.
It’s time to turn your IOLTA accounts over to the experts at A&W Associates so that you can focus on giving your clients the representation they deserve. Contact us today to learn more about our services!
