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Resolution and money

Bill it. Reconcile it. Close it.

Bill time at your firm's rates with each line's basis shown, reconcile trust against the bank, and close on a statement the client signs.

Availability: Limited availability

Card payments run through the firm's own Stripe or LawPay account once it is connected. BRON never sends money out.

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BRONResolution and moneyTrust account
Three-way reconciliationBank, ledger and client balances
Inspect the three records
01
Trust ledgerTies to the client balancesIn the record
02
Client balancesSum recordedIn the record
03
Bank statementNot enteredNot cleared
Not reconciled.The bank statement has not been entered.
Payment outHeld: closing statement not yet signedNot cleared
About this example
Illustration · fictional matterThe names, dates and documents are invented for this example.

In practice

From the time entry to the signed statement.

  1. Bill what the record supports.

    Each invoice line shows the work behind it and the firm rate that priced it. A line with no applicable rate stays unpriced until the firm sets one.

    BRON / Matter finances01

    Draft invoice / one line

    What this charge rests on.

    Draft invoice line / North Harbor

    Source workNotice memorandum v4 · Alex Chen
    RateNo firm rate applies to this task
    StatusUnpriced, listed for the firm

    The line names the work behind it and who did it. Until the firm sets a rate, it is not priced.

    Rates are looked up from the matter, then the client, then the activity, then the firm default. If none applies, the line stays unpriced.

    Illustration · fictional matter · no action has been taken

  2. Reconcile trust three ways.

    Compare the bank statement, the trust ledger and each client's balance. Without the bank statement, the month is recorded as not reconciled.

    BRON / Matter finances02

    Trust account / month-end reconciliation

    Bank, ledger and client balances.

    Trust ledgerRecorded balance
    Client balancesEach client’s balance, added up
    Bank statementNot entered

    The bank statement has not been entered, so the month cannot be certified as reconciled.

    Releasing funds is a separate approval

    Two-person approval

    Off until the firm sets a dollar threshold. Reconciling the account does not approve any payment out of it.

    A missing bank figure is recorded as missing, not as zero. The ledger matching the client balances does not show that the bank agrees.

    Illustration · fictional matter · no action has been taken

  3. Close on the signed statement.

    Review the deductions and payees on the closing statement. The version the client signs is fixed, and each payment out still needs its own approval.

    BRON / Matter finances03

    Closing statement / deductions

    Each deduction names its record.

    Gross recoveryFrom the recorded settlement
    Fees · costs · liensEach from its recorded entry
    Net to clientCalculated, not paid

    Calculating the statement moves no money.

    Payees

    Proposed, not paid

    An approved statement proposes each payment for the trust approval queue. Each still needs its own approval.

    Posted entries

    Kept as posted

    A correction is a new entry beside the original.

    At signature

    This version is fixed.

    A later change makes a new statement. The signed copy stays as it was signed.

    Illustration · fictional matter · no action has been taken

What this carries into the rest of the matter

  • Invoice lines, each linked to the work it bills.
  • The trust ledger and each month's reconciliation, kept as posted.
  • The signed closing statement, on the matter's record.
  • A reviewed and approved settlement statement, into separate trust payment proposals for its payees and amounts. A second attorney reviews the proposals; BRON does not make bank transfers.

One decision in practice

The bank statement has not been entered.

Trust account / three-way reconciliationStatus
01
BankStatement not entered

No bank figure has been supplied for this month.

Review
02
LedgerPostings recorded

The trust ledger's entries for the month.

Recorded
03
Client balancesSum recorded

Each client's balance, added up and compared with the ledger.

Recorded
Bank, ledger and client balancesReleasing funds needs its own approval
Your next decision

Enter the bank statement and look into any difference before certifying the month. Releasing funds is a separate approval.

How it works, in detailSee every feature

Ask us how your trust account and closing statements would move into BRON.

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