Overview
Trust account reconciliation is the safest way to ensure your accounts are complete, accurate, and compliant. In most states, bar associations require law firms to perform a three-way reconciliation of trust accounts on a monthly or quarterly basis. SurePoint Practice Pro allows users with the trust reconciliation permission to compare trust general ledgers, client ledgers, and bank statements to reconcile trust transactions.
How To Perform Trust Reconciliation
On the left navigation bar, select "Trust Transactions" to view the general trust ledger page.
Click on the "Reconcile" tab.
On the Reconcile page, you will see all of your past reconciliations.
Click "Start New Reconciliation" button.
Enter the Statement End Date
Enter Ending Balance
Attach any backup files.
Click "Save"
You will now be redirected to the "Reconcile Trust" page.
You will see in the top header the total amounts to help guide you with the different balances to reconcile and match the balances.
You can click on "All Filters" if you would like to filter by Client, Originator, Managers, Matters, and other criteria if you are reconciling specific transactions.
Click on "Apply Filters" in the all filters pop-up panel.
Close the all filters pop-up panel.
You can now view all of your trust transactions and compare all of the columns with your other ledgers or bank statements.
Under the "Reconciled" column, click the checkbox for each individual transaction to mark them as reconciled.
You can individually go through each transaction if needed.
If you have confirmed all transactions are correct, you can use the Bulk Action > Bulk Reconcile button.
Note: The bulk action will apply to all the table results and does not require checkboxes to be selected to perform the action.
If you have made a mistake, you can use the Bulk Action > Bulk Unreconcile button to start over from scratch.
Once the Reconciliation Discrepancy total in the top header bar is $0.00 and shown in green, then you can mark the "Finalize Reconciliation" to complete the process.
Note: The "Finalize Reconciliation" will only enable when the balances match between Balance Change and Reconciled Balance Change.
After clicking "Finalize Reconciliation" button, you will be prompted to confirm Yes, Finalize Reconciliation to complete the process.
You can now click on the "Trust Reconciliations" in the breadcrumb trail bar in the top right corner of the table.
Congratulations! You have successfully created a trust reconciliation. You can create as many reconciliations as needed, and they will be tracked on the Reconcile page.
If at any time you need to pause and continue later, you can leave the page and return to the Trust Transactions page, go to the "Reconcile" tab, and there will be a "Continue Reconciliation" button to continue the last reconciliation where you left off.
Let us know if you have any questions!