Glossary entry
IOLTA trust accounting
IOLTA-ready attorney trust-account ledger with the three-way reconciliation your state bar requires. Ships in every Advottic Counsel firm tier.
Full definition
IOLTA (Interest on Lawyers Trust Account) is the regulatory regime that requires US attorneys to hold client funds in a trust account separate from the firm's operating account. Advottic Counsel includes an IOLTA-ready ledger that supports the three-way reconciliation every state bar requires (bank statement / book balance / client ledger all matched monthly), per-client subaccounts, and an audit trail signed at every transaction. The system flags negative balances, missing reconciliations, and unusual disbursements before they become bar-complaint problems. Compliance with your state's trust-accounting rules remains your professional responsibility. Shipped in Solo, Small Firm, Growing Firm, and Enterprise tiers.
Also known as
- Advottic IOLTA
- trust accounting