LedgerMatch
Bank Reconciliation for Law Firms & Legal Practices in Lexington, KY
A practical CSV-based bank-to-ledger workflow for law firms bookkeepers serving businesses in Lexington.
Bookkeeping context in Lexington
Lexington's horse industry, healthcare, and University of Kentucky create a diverse bookkeeping market with equine business accounting being a specialty unique to central Kentucky. Chase and Truist (formerly BB&T) are the dominant commercial banks in Lexington. LedgerMatch handles both CSV formats and reconciles Lexington business accounts against QuickBooks or Xero in under 10 minutes.
Law Firms & Legal Practices reconciliation workflow
Law firms operate with two distinct types of bank accounts — the operating account for business expenses and the IOLTA trust account for client funds — and both must reconcile perfectly every month. State bar associations require attorneys to maintain accurate trust account records, and a trust account reconciliation error can trigger a bar complaint or disciplinary action. LedgerMatch helps law firm bookkeepers reconcile both operating and trust account bank statements against QuickBooks or Xero in under 10 minutes, with a clean audit trail for every transaction.
Local and industry considerations
- Kentucky has a flat 5% corporate income tax. Lexington businesses also pay the city's net profits license fee — accurate monthly reconciliation supports both filings.
- IOLTA trust account reconciliation is required by most state bars and must be completed monthly — errors in trust accounting can trigger disciplinary proceedings regardless of the dollar amount involved.
Common banks and accounting tools
- Chase
- Truist Bank
- PNC Bank
- Wells Fargo
- Chase
- Bank of America
- QuickBooks Online
- Clio Manage
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