Legal Trust Accounting
Trust Accounting
Manage your trust accounts accurately.
Tracking Made Easy
Using the Tabs3 Trust Accounting Dashboard, you can easily stay on top of your Trust Account bank balances and quickly monitor any recent activity at a glance.
3-Way Reconciliation and More
The 3-Way Reconciliation Report helps you stay compliant when balancing your accounts. Not only that, but Tabs3 Trust Accounting has a wide range of reports that can be customized to fit your needs.
Stay Secure with Positive Pay
Trust Accounting includes a Positive Pay Export program that allows you to export a list of all approved checks that can then be uploaded to your bank or financial institution’s fraud prevention program.
Accept Deposits Made by Credit Card
The best way to accept credit card deposits for your firm is with Tabs3Pay. Make deposits to trust accounts through a secure payment portal.
FAQ
Does Tabs3 Trust Accounting Software provide me with 1099s for tax reporting?
Yes, 1099s can be prepared either by your Firm as a payer, or by the Trust Account holder as payer. When your firm is the payer, 1099 information can be combined with your accounts payable information to create a combined 1099 form or electronic file.
Can trust accounting activity appear on my Tabs3 client statement?
Yes. Statements can show just the Trust Account balance as of the statement date, all of the activity between the previous and current statement date, or no Trust Account information. You can also request a replenishment of trust Funds if the account drops below the recommended balance.
Can Tabs3 Trust Accounting tell me if I go below a minimum trust balance?
Yes. When creating a transaction in Tabs3 Trust Accounting, you will be notified if you fall below the minimum balance. Replenishment of Trust Account balances can also automatically show on clients’ statements.
Can I see a consolidated trust ledger for all of my firm’s trust accounts?
Tabs3 Trust Accounting can print ledgers showing the activity for each Trust Account, or print a combined ledger showing all activity for each bank account. Additionally, a Three-way report can be run after reconciling to demonstrate that the sum of the Trust Accounts matches the activity on the Bank Account plus any outstanding activity.
Is there a limit to the number of bank accounts I can use for my trust accounts?
Tabs3 Trust Accounting is limited to 99 Bank Accounts. Keep in mind that you can assign as many clients as necessary to each bank account so this should not pose a problem for most firms.
Is there a limit to the number of trust accounts I can track?
Tabs3 Trust Accounting does not limit the number of Trust Accounts you can track.
What are the benefits of a maintenance plan?
Even the best legal billing software requires support and maintenance over time. A Maintenance Plan provides you with free technical support, software updates, and substantial discounts on upgrading Tabs3 Software to allow more users or gain more features. A Maintenance Plan or monthly subscription is required to use Tabs3 Software.
Can I accept credit card payments for trust deposits?
Yes, the best way to accept credit cards for your firm is with Tabs3Pay. You will have the ability to authorize credit card and eCheck trust deposits directly in Trust Accounting.