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Accounting Software
TrustBooks reviews and summary
TrustBooks is a cloud-based legal accounting software meticulously designed to meet the specific compliance and trust accounting requirements of law firms. It automates and simplifies the complex rules surrounding Interest on Lawyers' Trust Accounts (IOLTA) and client trust fund management, helping firms avoid serious ethical violations. Beyond trust accounting, it handles standard law firm bookkeeping, including time tracking, expense management, invoicing, and financial reporting. The software is built to ensure easy reconciliation of trust accounts, generate compliant client ledgers, and provide clear separation between firm operating funds and client funds, all throug... TrustBooks is exclusively for attorneys, law firm administrators, and legal...
Best for
TrustBooks is exclusively for attorneys, law firm administrators, and legal bookkeepers. It is an essential tool for solo practitioners, small to mid-sized law firms, and any legal practice that holds client funds in trust and must adhere to strict state bar association rules regarding accounting and record-keeping.
Category
Accounting Software
Vendor
TrustBooks
Key takeaways
Our verdict
Our verdict is that TrustBooks is a specialized and invaluable solution for the legal industry. It successfully tackles the high-stakes area of trust accounting with clarity and ease, significantly reducing compliance risk while also providing robust general accounting features tailored to law firm operations.
Quick facts
TrustBooks at a glance
Ratings
TrustBooks ratings
Ratings in this section summarize available rating data. Software reviews are shown separately when users submit reviews.
Decision notes
TrustBooks pros and cons
Potential strengths
- Purpose-built for law firm trust accounting and IOLTA compliance, reducing the risk of ethical violations that general accounting software cannot prevent.
- Automates trust account reconciliation and compliant client ledger generation, saving time on high-stakes bookkeeping tasks.
- Provides clear separation between firm operating funds and client trust funds within a single platform.
- Covers both trust accounting and general law firm finances including time tracking, invoicing, expense management, and financial reporting.
Points to verify
- Confirm that TrustBooks supports the specific trust accounting rules for your state bar association before committing to the platform.
- Evaluate whether the general accounting features—invoicing, expense management—meet your firm’s needs or if you would still need a separate bookkeeping tool.
- Check integration capabilities with your firm’s existing practice management or document management software.
- If your firm handles complex billing arrangements like contingency fees or flat fees, verify how TrustBooks handles these scenarios.
Buyer fit
Who uses TrustBooks?
TrustBooks is exclusively for attorneys, law firm administrators, and legal bookkeepers. It is an essential tool for solo practitioners, small to mid-sized law firms, and any legal practice that holds client funds in trust and must adhere to strict state bar association rules regarding accounting and record-keeping.
Feature research
TrustBooks features
These are common features buyers compare in Accounting Software. Product-specific availability should be confirmed with the vendor.
AR Management
Monitor unpaid bills and manage incoming revenue owed by customers.
Bank Statement Reconciliation
Verify and align internal ledger entries with external bank account statements.
Billing & Invoicing Management
Generate and oversee financial documents, including billing statements and invoices.
CPA Firm Solutions
Software tailored for Certified Public Accountant (CPA) firms, providing financial advisory services to external clients.
Expenditure Logging
Maintain a comprehensive record of business-related expenditures and costs.
Fixed Asset Tracking
A central repository for tracking fixed asset data, including depreciation calculations and maintenance history.
Government Solutions
Specialized software for government agencies or entities interacting with them.
Non-Profit Fund Accounting
Accounting specialized for non-profits and public entities to track restricted funds and grants.
Nonprofit Software
Software solutions specifically designed for non-profit entities.
Payroll Processing Systems
Calculate and distribute staff compensation including salaries, hourly wages, and tax withholdings.
Project Financial Management
Oversees and records financial data individually for each project.
PO Management
Generate, transmit, and monitor the fulfillment status of purchase orders.
Compare
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Compare TrustBooks with other Accounting Software tools that buyers often evaluate.
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QuickBooks Online Advanced by Intuit
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Patriot Accounting by Patriot Software
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ERPAG by ERPAG
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FAQ
TrustBooks FAQs
TrustBooks is cloud-based legal accounting software built specifically for law firms to handle trust accounting, IOLTA compliance, and general firm bookkeeping.
TrustBooks is designed for attorneys, law firm administrators, and legal bookkeepers, especially solo practitioners and small to mid-sized law firms.
Yes, TrustBooks is built around IOLTA and client trust fund management, automating compliance with state bar rules for trust accounting.
TrustBooks includes time tracking, expense management, invoicing, financial reporting, and bank reconciliation alongside its trust accounting features.
Yes, TrustBooks is a cloud-based software solution, accessible from any device with an internet connection.
Yes, the software is designed to simplify reconciliation of trust accounts and generate compliant client ledgers automatically.
Trust and data
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