Reconcile Your Trust Account

3

After your Trust Account has been opened for one month, you need to reconcile your Trust Account. And then reconcile your Trust Account every month thereafter.

Before using the below Excel template workbooks for your Trust Accounting, we strongly recommend that you review RRTFB Chapter 5: Rules Regulating Trust Accounts. For an overview on trust accounting we also recommend you watch the free CLE course Trust Accounts by the Book.

Monthly Reconciliation Forms*

The Practice Resource Center of The Florida Bar provides Excel Templates to use for monthly Trust Accounting compliance with the Rules Regulating The Florida Bar. There are three template workbooks. All three are required for compliant trust accounting procedures, and each has its own built-in instructions on usage. Additionally, there is a PDF document providing instructions about where and how to save these templates when downloading them to your computer so they are available year after year.

  1. PDF Instructions: Saving and Using Excel Template Files
  2. Excel Template: PRC Trust Account Journal Template
  3. Excel Template: PRC Trust Account Client Ledgers Template
  4. Excel Template: PRC Trust Account Forms, Rule Cites and Monthly Reconciliation Procedures Template

Once a template file is properly saved as a form, you can use it repeatedly to start new spreadsheets. For instance, to start a new annual Trust Journal, you would select “new” spreadsheet to open the first set of options. You would then choose the “My Templates” area, and select “PRC-Trust-Account-Journal Template” from the list of available templates. After that, you would name and save the newly opened workbook as your new Journal. The master template itself remains unchanged — ready for the next year.

Additional Resources:

  • Trust Accounting Resources page
  • Unlimited FDIC protection for trust accounts expires The Florida Bar News 1-15-2013. As of January 1, 2013, FDIC Insurance coverage on Lawyer’s Trust Accounts has reverted to a limit of $250,000 per client with money in the account. Details on the change and comments from The Florida Bar Ethics Counsel are in this January 15 article from The Florida Bar News.


*DISCLAIMER
These Templates are intended for trust accounting use by lawyers with fewer than 25 trust transactions per month. Users with higher volumes of trust activity should consider commercially produced trust accounting software, such as TrustBooks, a Florida Bar Member Benefit.

The Excel Spreadsheet Templates provided here are published by LegalFuel: The Practice Resource Center of The Florida Bar and may be used “as is” or modified as needed. These templates have not been adopted as official forms of The Florida Bar.

The Florida Bar and the creators of these forms make no warranties, express or implied, concerning their use, and disclaim any responsibility whatsoever for the information contained in them. Users should have a basic understanding of trust accounting and Excel spreadsheets.