An account ledger for a bank account or credit card is a detailed record of all the money going into and out of that specific account—whether it’s your firm’s operating account, trust account, or credit card. It shows every deposit, withdrawal, check, payment, or transfer, and keeps them organized in one place.
Think of it like a checkbook register, but more comprehensive. Each transaction is listed with the date, amount, description, and running balance, so you can easily track your firm’s financial activity.
Maintaining an accurate bank account ledger is especially important for law firms because it helps you:
Stay compliant with trust accounting rules (especially for client funds).
Reconcile your accounts each month to catch any errors or missing transactions.
Monitor your cash flow and make informed financial decisions.
To view an account ledger follow the steps below:
Click on the Accounting tab, and then click Account Ledger.
From the Account dropdown choose the bank account or credit card to view its specific ledger and associated transactions.
You will be presented with a list of all the payments related to this bank account including deposits, withdrawals and transfers. These can include contact payments and expenses, firm payments and journal entries for any manual adjustments.
The Running balance column shows the current total amount of money in your account after each payment transaction. It updates automatically as new payments are added to the ledger, so you can see how your account balance changes over time. To ensure you have the complete view of all payments ensure your Reconciled filter shows both Reconciled and Not Reconciled payments.
Use the filters to narrow your results further when searching for a specific transaction. Click on any of the hyperlinks to take you directly to a specific payment, contact, matter, etc.
You can easily see the reconciliations status of each of your payments and view your previous monthly reconciliations.
What Happens Next?
Click here for more information on how to perform your monthly account reconciliations.