Audit Protection Services

ESCROW ACCOUNT SERVICES
For lawyers and law firms.

How it works

Printer Integration: We equip you with a unique LawLedgers-Printer (“LL-Printer”), directly linked to our cloud system and loaded with printable escrow checks, designed for seamless operations.
Scan & Deposit: Receive settlement checks on behalf of your clients and scan them using the LL-Printer. Our system records the check, connects with your bank, and ensures check clearance.
Easy Document Submission: Simply email or scan the OCA Closing Statement or any other pertinent disbursement document to Law Ledgers, and we handle the rest.
Prompt Check Printing: In just 15 minutes, Law Ledgers prints your checks directly via the LL-Printer at your office, expediting the process.
Specific Client Fund Verification: Law Ledgers ensures there are sufficient funds on deposit in escrow, correlating specifically to the client whose funds the lawyer is required to hold.
Balance Assurance: Our system ensures that all checks linked to a specific client’s funds ultimately balance out to zero, demonstrating precision in both deposits and disbursements.
Comprehensive Record-Keeping: Law Ledgers meticulously tracks every transaction, maintaining accurate general ledgers and individual client ledgers for your firm.
Advanced Bank Protection: We integrate the checks into Chase’s Positive Pay system (or other similar bank protection systems) for enhanced security.
Streamlined Reconciliation: With our online platform’s auto-generation capabilities, lawyers can easily fulfill their non-delegable duty to regularly reconcile escrow accounts. A single click generates a full reconciliation report at any time.

We charge an all-inclusive $7 per transaction, with no hidden costs.

Reach out to us today and discover how our expertise can drive your law firm’s success.

Our system adheres to the New York Rules of Professional Conduct:

Automatically monitor and detect all transactions, deposits, and withdrawals that concern or affect the lawyer’s practice of law, including those that pertain to the special accounts.
Prevent commingling or misappropriation of client funds or property with the lawyer’s or accounting firm’s own funds or property.
Maintain a special account or accounts, separate from any business or personal accounts of the lawyer or lawyer’s firm, where all funds held in escrow or otherwise entrusted to the lawyer or firm shall be deposited, in a banking institution within New York State that agrees to provide dishonored check and overdraft reports.
Assure notification of clients or third persons upon the receipt of funds, securities, or other properties in which the client or third person has an interest, promptly identify and label securities and properties of a client or third person, maintain complete records of all funds, securities, and other properties of a client or third person, and render appropriate accounts to the client or third person regarding them.
Maintain complete and accurate records of all deposits and withdrawals from the special accounts and of any other bank account that concerns or affects the lawyer’s practice of law, including the date, source, and description of each item deposited, as well as the date, payee, and purpose of each withdrawal or disbursement.
Retain copies of all retainer and compensation agreements with clients, statements to clients or other persons showing the disbursement of funds to them or on their behalf, bills rendered to clients, and records showing payments to lawyers, investigators, and other third parties.

Our system adheres to the Model Rules for Client Trust Account Records:

We support electronic banking transactions with an electronic recordkeeping system that accurately and reliably tracks all transactions in the client trust account.
We ensure the confidentiality, integrity, and availability of electronic records by implementing adequate security measures within the system.
We generate a report that provides a clear and accurate description of each transaction, including the date, amount, payee, and client matter number.
We reconcile the report with the bank statement on a monthly basis to ensure that all transactions have been accurately recorded and promptly identify and resolve any discrepancies or errors.
We create a clear audit trail within the system that allows for the reconstruction of each transaction from its inception to its final disposition.
We generate a list of all outstanding checks and deposits to facilitate the monthly reconciliation process.
We generate a report that provides a current balance of the client trust account and a list of all client trust balances.
We generate a report that identifies all transactions in excess of a predetermined threshold.
We implement backup and recovery procedures within the system to ensure that electronic records are not lost or destroyed in the event of a system failure or other disaster.