The importance of trust – new Trust Dashboard

Last year we shared an article about the importance of a practice management system with trust accounting capabilities, but more importantly the trust implied when a client deposits funds with a legal firm.

Both prior to and following that article, we had a number of meetings with John Mitchell, then Chief Trust Account Investigator and Supervisor for the Law Society of New South Wales. John was a huge advocate of making the Trust Account inspection process more streamlined and affordable.

Having already developed dashboard technology, we utilised this functionality at John Mitchell’s request, to present the trust records contained in FilePro in a unique and clearly visual way.

The following screenshot demonstrates the results of that development.

The dashboard shows the trust bank reconciliations with the three critical balances displayed.

Depending on which reconciliation you select, the other tiles will display that period’s records. The traditional trust and inspection reports are also available.

We believe that this is an excellent snapshot and overview of your trust account, not just for trust inspectors but also directors, partners and managers who want to strengthen their internal risk management processes.

This dashboard will be available as part of the next major FilePro update, scheduled for July.

Applying the next FilePro update

The trust dashboard, as well as some of the other exciting features coming in July, may require configuration and assistance from your FilePro support team.

Some of these features will also require Microsoft Office 2013 as a minimum, to function. This only applies to new features; all existing functionality will not be affected.

If you would like to discuss these features and minimum requirements, or schedule assistance with the update and required configuration, please feel free to get in touch.

David Keeler
CEO

June 18th, 2018|FilePro Updates|0 Comments

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