Synergy Advisory Bureau
@SAdvisoryGroup
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Up-to-date documentation provides a clear picture of your income, expenses, assets, and liabilities. Our firm can help your organization grow.
Miami, FL
Joined February 2012
Effective Communication is Key.- Regular communication with clients to keep them informed of project progress and potential delays. - Proactively addressing any concerns or questions clients may have. - Maintaining detailed records of communication and project updates.
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Best Practices for Avoiding Disputes.- Using standardized contracts with clear billing terms and conditions. - Ensuring accurate time tracking and documentation of all work performed. - Seeking professional advice from legal or accounting experts if necessary.
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Job Ledger 101 A typical job ledger includes the client's name, transaction dates and descriptions, amounts, and current balance, helping the firm track each client's financial status for accurate reporting and reconciliation. Here is our video on this.
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A law firm handling a class-action suit over faulty roofing materials may have many clients awaiting settlement payouts. A detailed job ledger would track fund distribution to ensure fairness and accountability. For more information watch our video
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Many accounting programs like QuickBooks and Clio Manage offer automated reconciliation, matching bank transactions with job ledgers to simplify the process and reduce errors. For more information watch the video.
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Best Practices for Maintaining Compliance.- Consider conducting regular internal audits of trust account records and reconciliations to catch errors and ensure regulatory compliance. Many state bar associations offer resources on trust account management.
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Compare the bank statement balance with the job ledger to reconcile balances. Discrepancies may indicate errors or missing transactions, such as misdirected deposits or unrecorded items. For more information watch our video on trust accounting
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Think of trust account reconciliation as a puzzle. You need to gather all the pieces - bank statements, deposit slips, and transaction records - and fit them together to ensure that every transaction is accounted for. For more information watch the video.
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Clear, organized records are vital for efficient reconciliation. Storing trust account documents securely and using electronic systems improves accessibility and efficiency. For more information, watch this video:
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Imagine a law firm implementing a robust internal control system for trust account management. A law firm like this implements a strong internal control system for trust account management, featuring audits and duty segregation to reduce fraud risk.
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A law firm handling a class-action suit over faulty roofing materials may have many clients awaiting settlement payouts. A detailed job ledger would track fund distribution to ensure fairness and accountability. For more information
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Job Ledger 101.A typical job ledger includes the client's name, transaction dates and descriptions, amounts, and current balance, helping the firm track each client's financial status for accurate reporting and reconciliation. Here is our video on this
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Roof Leak Claim: How to File Your Insurance.#InsuranceClaim #RoofLeak #InsuranceTips #HomeownersInsurance #ClaimProcess #InsuranceCoverage #PropertyDamage #InsuranceGuide #HomeRepair #ClaimFiling
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Invoice & Bill Management: Easy Accounting Strategy.#Invoicing #BillManagement #AccountingTips #FinanceHacks #Bookkeeping #AccountsReceivable #FinancialPlanning #BusinessFinance #MoneyManagement #FinanceTutorial
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Easy Guide: How to Deposit Money & Handle Finances.#FinanceTips #MoneyManagement #DepositTicket #Banking #FinancialLiteracy #Insurance #Mortgage #CheckDeposit #FinancialPlanning #Accounting
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Track Invoice & Claim Numbers: Simple & Effective Methods.#InvoiceTracking #ClaimNumbers #DataManagement #FinancialTracking #BusinessFinance #TrackingTips #InvoiceManagement #ClaimProcessing #BusinessSolutions #FinanceTips
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Choosing the Right Job: Simplify Transactions & Billing.#JobSelection #TransactionManagement #BillingProcess #JournalEntry #BusinessFinance #ClaimNumbers #AccountingTips #FinancialSoftware #BusinessSolutions #Efficiency
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Easy Payment Process: How to Pay Bills Correctly.#PaymentProcessing #AccountingTips #FinanceExplained #BusinessFinance #Bookkeeping #BankStatements #FinancialLiteracy #AccountsPayable #MoneyManagement #FinancialEducation
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Sage Accounting: Efficient Invoice & Trust Account Setup.#SageAccounting #AccountingTips #InvoiceManagement #BillManagement #TrustAccounts #FinancialOrganization #SmallBusinessAccounting #ClaimNumbers #JobCosting #AccountingSoftware
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Sage Accounting: Mastering Trust Accounts and Invoices.#SageAccounting #TrustAccounts #AccountingTips #FinancialManagement #InvoiceManagement #LiabilityAccounts #AccountDebits #AccountCredits #BusinessFinance #AccountingSoftware
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