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Setting Your Advance Retainer Deposit with Your Attorney Trust Accounting Software

By Ivon Lerdorf Subscribe to RSS | May 16th 2012 | Views:
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“I’ll pay you anything!”

If only that were true, you think. As you look across your desk at your client, you wonder how much is left on deposit in your IOLTA account, compared to how much work the client is talking about having you do.

Don’t get caught in this scenario without Easy Soft’s attorney trust accounting software.

You need to know, at all times, how much money your client has on deposit in the IOLTA account. When you use our trust accounting software, every time you start a time record for a client, using our legal billing software, you will see how much money remains on deposit, right on the screen, in front of you.

One of the ways this trust accounting information helps you is to frame the conversation with your client about precisely how much the client wants to spend and what services can be expected for that fee.

What if you could immediately respond to the above client statement with a couple of clicks of your mouse by saying, “Well, you already provided a $5,000 deposit on February 1, but there is only $500 remaining. To take the case to trial will require an additional $5,000 deposit.”

When you use Easy Soft’s attorney trust accounting software, you gain the opportunity to become a project manager for the fees and costs associated with a case. Our trust accounting software also offers you the opportunity to produce a management report with the click of a mouse, showing which clients have advance retainer deposits in your IOLTA account. These reports can also be used on a monthly basis to send a letter to clients with upcoming work that will exceed their current deposit balance.

Easy Soft’s legal escrow accounting software reports will also offer you the opportunity to evaluate whether your advance retainer deposits are too low. Are more than fifty percent of your clients currently underfunded compared to the amount of work you have piled on your desk? Trust accounting can help you to start asking clients for more money in their initial advance retainer deposit.

Installing Easy Soft’s trust accounting and billing software products will be like having an on-site cheering section for you to finally get the payments you deserve.

Ivon Lerdorf - About Author:
A comprehensive guide for law firms to understand, evaluate and select proper new york state uncontested divorce, legal billing software and ny child support calculator .

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