Reconcile Your Trust Account

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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.

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 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.

Monthly Reconciliation Forms*

Before using these Excel Spreadsheets for your Trust Accounting, we strongly recommend that you view the free CLE course Trust Accounts by the Book for an overview on trust accounting.

The Practice Resource Center provides Excel Templates to use for Trust Accounting compliance with The Florida Bar Rules. There are three 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.

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.

Instructions on how you should use templates are also included in the PDF document below

Please download and save all four of these items. Follow the PDF instructions to save the templates correctly and use the instructions contained in each workbook. You will be on your way.

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

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
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 with the permission of the publisher. These templates have not been adopted as official forms of The Florida Bar. 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 TABS3 Trust Accounting Module. 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 Excel spreadsheets.