Save Countless Hours With Trust Accounting Software

  • Create And Manage Accounts Easily
  • Integrations
  • Audit Preparedness 
  • Set Up Customized Automations And Optional Notifications
  • Risk Mitigation

Benefits Of Trust Accounting Software For Your Law Firm

  • Easily create and keep track of one or multiple accounts and contacts

  • Monitor growth and set up optional notifications and automations

  • No more overdue bills, invoices, or missed deadlines

  • A sleek and easy to use interface – transfer any existing data to Matterly with ease

trust accounting software

Perfect For Estate Management

Trust accounting software in estate management is specifically designed to manage the unique financial aspects of trusts, estates, and fiduciary accounts. By using trust accounting software, estate management professionals can streamline their workflows, maintain compliance, and ensure accuracy in their financial records. Some benefits of using trust accounting software in estate management include:

  1. Accurate record-keeping: Trust accounting software helps ensure that all financial transactions related to trusts and estates are accurately recorded, making it easier to track income, expenses, disbursements, and other financial activities.

  2. Simplified financial reporting: Trust accounting software provides built-in reporting tools that generate customized financial reports for beneficiaries, trustees, and other stakeholders. This simplifies the process of generating regular account statements, tax documents, and other required reports.

  3. Improved compliance: Trust accounting software is designed to comply with the specific legal and regulatory requirements for trust and estate management, such as maintaining separate accounts for principal and income or tracking complex beneficiary distributions. This helps reduce the risk of errors and ensures that the estate is managed according to the applicable rules and regulations.

  4. Time-saving automation: Trust accounting software can automate various tasks, such as reconciling bank statements, calculating trust income and expenses, or distributing funds to beneficiaries. This not only saves time but also reduces the risk of manual errors.

  5. Enhanced security: Trust accounting software typically includes robust security features, such as data encryption, secure user authentication, and access controls, ensuring that sensitive financial information is protected from unauthorized access.

  6. Integration with other systems: Trust accounting software can often be integrated with other systems used in estate management, such as document management or legal billing software. This allows for seamless data sharing and improved efficiency across the entire estate management process.

  7. Scalability: Trust accounting software can scale to accommodate different sizes and types of estates, making it suitable for both small and large estate management practices. This means that as the firm’s needs grow, the software can adapt to handle the increased workload.

In summary, trust accounting software in estate management offers several benefits, including accurate record-keeping, simplified financial reporting, improved compliance, time-saving automation, enhanced security, integration with other systems, and scalability. By leveraging trust accounting software, estate management professionals can streamline their processes, maintain accurate financial records, and ensure compliance with legal and regulatory requirements, ultimately leading to better service for their clients.

Schedule A Demo Now To Learn More About Matterly Trust Accounting Software

case management software

Trust accounting software can be an invaluable tool for a law firm. Here are some of the key benefits it can provide:

  1. Compliance and Accuracy: Trust accounting rules are strict and vary by jurisdiction. Trust accounting software can help ensure compliance with these rules and reduce the risk of errors. For example, it can prevent commingling of client funds and firm funds, and help ensure that each client’s funds are correctly accounted for.

  2. Efficiency and Time Saving: Trust accounting can be complex and time-consuming. By automating many tasks, such as reconciliations and generating reports, trust accounting software can save a significant amount of time.

  3. Transparency: Trust accounting software can make it easier to provide clients with clear, accurate reports about their funds. This transparency can help build trust and strengthen client relationships.

  4. Integration: Many trust accounting software solutions can integrate with other systems used by law firms, such as case management software, billing software, or general accounting software. This can help ensure consistent, accurate data across all systems.

  5. Audit Preparedness: In many jurisdictions, law firms are subject to regular audits of their trust accounts. Trust accounting software can make it easier to prepare for these audits by keeping accurate, up-to-date records and making it easy to generate necessary reports.

  6. Risk Mitigation: Errors in trust accounting can have serious consequences, including disciplinary action and damage to the firm’s reputation. By reducing the risk of errors, trust accounting software can help mitigate these risks.

  7. Scalability: As a law firm grows, trust accounting software can easily handle an increase in the number of client trust accounts.

  8. Cost Savings: While there is a cost to implementing and maintaining the software, this can be offset by the time savings, reduced risk of errors, and improved client service.

Remember, the specific benefits can vary depending on the particular software solution and the needs of the law firm. It’s important for a law firm to carefully evaluate different options to find the best fit.

Schedule a demo with one of our experts now to customize Matterly to your needs!