Summary Observations 2011 - 2016:

• Trend in rising trust account activity – both number of transactions and amount flowing through trust accounts annually
• Real-estate accounts for 59 per cent of all transactions and 85 per cent of transaction dollars
• Small firms account for 67 per cent of all transactions
• Inadequate explanation and narratives supporting the transactions recorded (e.g., source/payee, nature of transaction, client identification)
• Deviations between information available per accounting upload and Self-Report
• Potential shortages created in a matter and in a bank account
• Inactive accounts that must be remitted either to the client or Law Society
• Cash received in amounts exceeding $7,500 allowed under Law Society rules
• Fees charged to a trust account (e.g., banking fee)

Historically, LexisNexis PCLaw and ESILAW were the only two approved Law Society software vendors used for the data upload. Alberta lawyers have raised concerns regarding the limited options of available approved trust accounting software.

Throughout 2016, the Law Society worked with various software vendors to standardize the data model and format of their software’s trust accounting reports to ensure compatibility and compliance with our requirements. We are happy to announce that effective January 1^st, 2017, Clio was approved by the Law Society for the ETTR Program. The Law Society is helping progress the practice of law by expanding the types of trust accounting solutions lawyers can use. The Law Society does not recommend any one vendor over another nor are these entities affiliated with the Law Society.

Note: Software vendors are deemed approved after they register and have their product approved through testing.

The Trust Safety Accounting Upload is due within one month of the designated filing date/year end of the law firm.

FAQs and user guidelines are available for lawyers interested in using Clio for their data uploads. An overview of Clio’s trust accounting features is available here.