Each year dozens of attorneys are disciplined, or even disbarred, for trust account violations mostly due to reliance upon their main or third-party software that does not provide the catch-all features the law requires. Don’t let this happen to you. As the fiduciary holder of your clients’ funds, you must be aware of your state’s trust requirements as well as trust rules in general that can either help or hinder you with compliance on trust accounting, ethical billing practices and IRS regulations.
Geni Law’s Trust Account feature meets and exceeds these requirements.
Geni Trust is designed and organized to make all of the accounting of client funds as easy as possible plus to provide informative reports that indicate those cases that would result in the fastest payment of fees from the trust account to the law firm. In Geni Trust there is a great amount of computer computational work done behind the scenes, keeping track of the money paid into each client’s account, recording the amounts and portions that are earned and portions that are not earned, and what amount of the earned funds that can be transferred out of trust into the firm’s operational bank account. Plus Geni Trust’s unique feature keeps track of amounts of client money in each of their accounts that must be retained to pay reimbursable expenses.
Geni Trust contains all of the necessary aspects of the trust account function allowing you to phase out additional software or third-party applications over time — saving you money:
- instantaneous account balancing
- on-demand balance assurance between trust account and balance sheet
- instant trust case accounting reports for any time period
- with the click of a button Geni Trust calculates your earned fees and writes you a check!
- unique trust reports above and beyond those of any other software provider
Geni Trust is tied into the Earned Fees Measuring system, the payments register, and the client’s case file:
* Keep track of client funds that have been paid but not earned
* Instant access to amount of client fees that have been earned but not paid
* Itemized and summarized reports for any given client, case, time frame, attorney, or profit center; such as:
- The Earned Fees Report is a comprehensive report detailing the client, case number, how much the client has been billed, how much the client has paid, the total amount of fees the firm has earned, the balance in the trust account, how much will be paid to the firm and how much has been paid but not earned (overpaid). The Earned Fees Report can be printed anytime.
- The Paid More Than Earned Report is a necessity for the decision-maker who wants an instant trust balance report to monitor client payments deposited to the trust account for legal fees that have been paid but have yet to be earned.
- The Trust Case Accounting Report is a report detailing the entire trust record, including deposits and checks written for a particular client or division.
- The Cases Needing Attention Report provides an instant report showing all trust accounts having a negative balance. The report can be printed on-demand at anytime or can print automatically at the same time each day for immediate attention by attorney, assistant or accounting staff.
- The Case Accounting vs. Trust Register Report alerts Management if the Trust Account bank balance is over or short from the balances of the client accounts. This could happen for different reasons:
– a mistake of using the wrong account number
– taking out the charge for using credit card deposits from the Trust Account rather than the Operational Account
– paying a case cost from the Trust Account rather than from the Operational Account
– paying a case cost from the Operational Account rather than from the Trust Account
These situations don’t happen often, but this report is just a wonderful double-check that should be run at least once per month. The Case Accounting vs. Trust Register Report can be run at any time from anywhere in the Geni Law program.
Geni Trust and Accounting features also contain some nifty features not offered by any competitor:
Automatic Deposit Slip
A dual-column deposit slip prints automatically for each deposit for all accounts. Cut the deposit slip in half (from top to bottom) along the black center line. File one half with the daily deposit records, and attach the other half to the bank deposit slip to eliminate having to enter each deposit manually – saving you time! Enter the total on the bank’s deposit slip, place or staple it on top of Geni’s deposit slip and clip to the checks.
Re-Print Deposit Slip
You don’t know how much you miss something until it’s gone, right? Geni’s auto-print deposit slips are going to save you so much time that you will grow to depend on them very quickly. However, for whatever reason, you do not have the deposit slip you need, Geni’s unique ability assigns internal Transaction ID codes for each saved deposit so that deposit slips can be reprinted on demand.
Speed up your routine accounts payable duties through a feature called Memorize Checks. Streamline the entry of recurring payables. Identify those checks that are routine or recurring, place the cursor on one of the selected recurring items, and click the Memorize Checks button. Geni Law memorizes the check and sends you the following notification: “This check has been memorized.” Click OK to close the notification. Press the Memorize Checks button and an overlay screen appears listing all of the checks you have selected to memorize. The length of the list is unlimited. Place the cursor on the desired memorized check and click. Instantly, in the overlay screen, the new check fills in with the current date. Here you can make any necessary changes.
Can your law firm software do any of this?
GENI LAW is fully-customizable and includes Client and Case Management, Trust Accounting, Time Billing, Automatic Collections System, Checkbook and Accounting, Calendar & Task Control, Email in Case File, In-House Direct Marketing, and Management Reports consisting of general financial plus unique financial, performance and advertising reports.
GENI LAW supports an unlimited number of synchronized, simultaneous users, clients and cases, up to and including complex litigation; data is entered once and made available to all features of the program; and data changes are synchronized immediately in all databases.
You own it, not dependent on the Internet, GENI LAW resides on your office computer or laptop. The cost of the program is the lowest on the market!
(paid through LawPay)
USE THIS AMAZING PROGRAM and start saving money. No contract or maintenance plan and updates are free to paid subscribers. Stop anytime; download today – try it – you’ll like it!
To DOWNLOAD the software, or for a complete, detailed description of all of the other wonderful duties the program performs plus the training available, go to DOWNLOAD.
CLICK ON THIS LINK TO HAVE OUR NETWORK ENGINEER ESTABLISH GENI LAW ON YOUR NETWORK: http://www.InstallGeniLaw@GeniFinancial.com.
Geni Law uses any operating system, including Mac®, Linux® (nix) and all versions of Windows®. Mac® and Linux® require manual download.
Geni Law’s software is so extensive that the only equivalent software is too expensive for any solo or small-size firm. With Geni Law, you get large-firm practice management for just pennies a day.
Whether you are solo, a small- or medium-size firm, or a law firm with 100 or more simultaneous users, you cannot afford to go another day without subscribing to Geni Law to manage your practice.
Compare Geni Law Office Software side-by-side with any other law practice software, and you will see that Geni Law accomplishes more and costs less!