IOLTA FAQS – How do we handle client over payments? iolta trust accounts

Client received a $1,560 invoice from your law firm.  Client decided to round off the amount and mailed a check for $2,000.

Options for depositing the $2,000 check.

  • Deposit the full $2,000 to the operating account.  Incorrect.  The $2,000 check includes $440 of funds the firm has...
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IOLTA FAQS – Are preprinted deposit slips for the IOLTA Account required? iolta trust accounts

Yes, preprinted deposit slips are required.

Appendix B-1 of the 2014 Arizona Client Trust Accounting for Arizona Attorneys guide states “Deposit slips should always be printed with the name of the lawyer or law firm, IOLTA or Trust Account Designation, account number, and routing...

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