急问law firm的trust acc的会计处理方式

zhuyouza

有人在law firm做过的嘛？trust account的会计处理方式是怎样的呢？business process是怎样呢？
我自己google了一下，关于trust account的政府法规解释也非常详尽，可是就是查不到在会计上的处理是怎样的。
急等高人指点，万分感谢。

zhuyouza

没人知道吗，唉

lee2267

trust account: All Money in must be frozed that mean they are not able to move at all.
                         All Money out must have lawyer's release notes to detail money to where..

EG: client A deposit 20,000 , Client B deposit 30,000,Client C Deposit 10,000 in same day ..
later;  lawer issue release notes to state: payment to court $5,000 which including client A 2,000 client B 1500 client C 1500
                                                                            Lawyer Charge: Client A 10,000, Client B 20,000  Client C 5000

3 steps:

DR Trust Bank 20,000 Client A
DR Trust Bank 30,000 client B
DRTrust  Bank 10,000Client C
CR  Trust acc  liability  60,000
To record Trust Bank Received Money

DR: Business Bank 40000
CR: Trust Bank 40000
To Release Money as per Lawyer notes- transfer money from trust acc to business acc

Dr Trust acc  libility 40000
CR Lawyer Legal Service Revenue 40000
To Reduce trust acc liability -to record service rev

DR : Court Fee 5000
CR Business Bank 5000
To record   court fee payments as per court invoice

Dr  Lawyer Legal Service Revenue-reinbursement 5000
CR: Court Fee Reinbursement  5000
to record lawyer paid for client court fee as reinbursement transaction .this is not lawyer revenue fee

[ 本帖最后由 lee2267 于 2012-7-20 10:21 编辑 ]

zhuyouza

高人终于出现了，太太太感谢了！！！
对我非常有用。不知怎样才能给你加分呢？

lee2267

u must be aware that u must have 4 accouts
Lawyer Legal Service Revenue
Lawyer Legal Service Revenue-reinbursement
Expense  Fee
Expense Fee Reinbursement

the revenue/ expense and reinbursement accounts are  not allowed to offset each other, u must show these 4 accounts in financial statements seperately ..it is unlike other industries. othwise you will  be in trouble in future

[ 本帖最后由 lee2267 于 2012-7-20 10:28 编辑 ]

HEDENG

You can just use legal software(such as Leap and Locus) to record these transactions easily as long as you follow the instructions and you can check the entries so you will know the accounting process. If you have any questions you can call the legal software helpdesk or ask Law Society directly, they are all very nice and helpful. But just don't forget to get lawyer's authority before pay money from trust account, and keep all records in time.

[ 本帖最后由 HEDENG 于 2012-7-20 10:33 编辑 ]

zhuyouza

哦，原来是这样的。太感谢了。
好像我还不能加分，先打个白条

zhuyouza

如果firm里没有legal software的话，是不是只能用excel去记录呢？我查过下，好像普通的MYOB是不太允许用的，太flexible。请指点，感谢。

HEDENG

you are right, you can't use MYOB to record the trust account. If you don't have legal software then you need to mannually record your trust account in Excel. There are many reports you need to create in Excel: Monthly trust account receipt report, payment report, reconciliation report, trial balance and matter report. The matter report is created for every case that has trust monies, so you will know how much trust monies left in each case.
And do not overdraw even one cent in your trust account otherwise you need to report to Law Soceity asap.

hyundai

原帖由 HEDENG 于 2012-7-20 10:31 发表
You can just use legal software(such as Leap and Locus) to record these transactions easily as long as you follow the instructions and you can check the entries so you will know the accounting process ...

同意这个，myob不可以被用于Law Firm, you should have been told by someone before you start.

zhuyouza

thanks so much~~~~~
新足迹果然牛人多
可惜我的权限还不能给你加分

zhuyouza

非常感谢~~~~

lee2267

原帖由 hyundai 于 2012-7-20 11:43 发表

同意这个，myob不可以被用于Law Firm, you should have been told by someone before you start.

quickbook 不可以被用于Law Firm either...

hyundai

原帖由 lee2267 于 2012-7-20 12:39 发表

quickbook 不可以被用于Law Firm either...

我也同意你说的。

yaphet

mark

mldsh905

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