Does Tabs3 Trust Accounting Software provide me with 1099s for tax reporting?

Yes, 1099s can be prepared either by your Firm as a payer, or by the Trust Account holder as payer. When your firm is the payer, 1099 information can be combined with your accounts payable information to create a combined 1099 form or electronic file.

Can trust accounting activity appear on my Tabs3 client statement?

Yes. Statements can show just the Trust Account balance as of the statement date, all of the activity between the previous and current statement date, or no Trust Account information. You can also request a replenishment of trust Funds if the account drops below the recommended balance.

Can Tabs3 Trust Accounting tell me if I go below a minimum trust balance?

Yes. When creating a transaction in Tabs3 Trust Accounting, you will be notified if you fall below the minimum balance. Replenishment of Trust Account balances can also automatically show on clients’ statements.

Can I see a consolidated trust ledger for all of my firm’s trust accounts?

Tabs3 Trust Accounting can print ledgers showing the activity for each Trust Account, or print a combined ledger showing all activity for each bank account. Additionally, a Three-way report can be run after reconciling to demonstrate that the sum of the Trust Accounts matches the activity on the Bank Account plus any outstanding activity.

Is there a limit to the number of bank accounts I can use for my trust accounts?

Tabs3 Trust Accounting is limited to 99 Bank Accounts. Keep in mind that you can assign as many clients as necessary to each bank account so this should not pose a problem for most firms.

Is there a limit to the number of trust accounts I can track?

Tabs3 Trust Accounting does not limit the number of Trust Accounts you can track.

What are the benefits of a maintenance plan?

Even the best legal billing software requires support and maintenance over time. A Maintenance Plan provides you with free technical support, software updates, and substantial discounts on upgrading Tabs3 Software to allow more users or gain more features. A Maintenance Plan or monthly subscription is required to use Tabs3 Software.

Can I accept credit card payments for trust deposits?

Yes, the best way to accept credit cards for your firm is with Tabs3Pay. You will have the ability to authorize credit card and eCheck trust deposits directly in Trust Accounting.

Trust Accounting

Tabs3 Trust Accounting Software manages trust accounts for your clients accurately and easily.

Integration

Tabs3 Trust Accounting Software provides seamless integration with Tabs3 Billing Software, Tabs3 Accounts Payable Software and Tabs3 General Ledger Software, with the same look and feel as Tabs3 Billing Software.

When integrated with Tabs3 Billing, trust balances appear on work-in-process reports. Trust transactions or balances can also appear on billing statements. Payments made to your firm from a client’s trust account can automatically record a payment in Tabs3.

Because Tabs3 Trust Accounting software was designed to work with other Tabs3 products, you can call one Technical Support team for assistance if you ever have questions.

Ease of Use

Track an unlimited number of trust accounts and manage up to 99 different bank accounts. The software warns you when an account goes below a minimum balance, and helps you easily reconcile your bank statements.

Easily Manage Your Trust Accounts

Print checks, ledgers for individual trust accounts and bank accounts, and IRS 1099 forms. You can also process client deposits via credit card (merchant account required, click here for more details).

Dashboard

The Home Page in Trust Accounting features a Dashboard that includes an easy to use graphical view of the firm’s trust account standing. The Bank Accounts widget provides a summary of your firm’s active trust bank accounts. You can easily start a reconciliation or bank transaction import right from the Home Page. The Recent Trust Transactions widget shows the most recent trust transactions and combined trust transactions.

Positive Pay

Trust Accounting includes a new Positive Pay Export program that allows you to export a list of approved checks that can then be uploaded to your bank or financial institution’s fraud prevention program (commonly known as Positive Pay).