How do I generate a Reconciliation Report?

Guide to create a 3-way reconciliation report. This guide includes both an instructional video and step-by-step instructions.

What is 3-way reconciliation?

It is the balancing of your IOLTA Total Balance, Nota Client Ledger, and Book Ledger.

Why is it important

ABA Rule 1.15 states: “Safekeeping Property” requires monthly reconciliation of client ledgers and quarterly reconciliation of the trust account. For more information, click here.

Watch this instructional video or the read instructions below:

How to run your 3-way reconciliation report:

Click Reconciliation Report from the Navigation Panel - The 3-Way Recon Status & Report will display.

To export to a PDF and print your reconciliation report, click “Print” next to the printer icon on the top right of the page:

What to do if you are not reconciled:

Finish assigning Initial Funds (these are the funds at the time of your Nota enrollment):

2. Finish tagging transactions by clicking Tag Transactions. This will take you to the “Untagged Transactions” section of your IOLTA dashboard:

To tag transactions, simply:

Select the Client Matter from the dropdown OR
Click the green checkmark (✓) for a suggested transaction OR
Use the split arrows to allocate a transaction to multiple matters

Once you complete the steps above, your 3-Way Reconciliation report should show as balanced.

Need help?

If you have any questions or would like assistance, please contact Nota Customer Success at 1-800-724-1313 or email support@trustnota.com.

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References to “IOLTA” or “Interest on Lawyers Trust Account” shall be interpreted to include “IOLA,” or “Interest on Lawyer Account,” and “IOTA,” or “Interest on Trust Account,” as applicable in a particular state.

Nota is a product/service offered by M&T Bank and is available to attorneys whose offices and practices are in NY, NJ, MD, PA, DE, CT, VA, DC, NH, MA, ME, VT, FL, or WV. IOLTA accounts held by lawyers in these states must be subject to applicable state rules and regulations. The advertised product/services and their features and availability are subject to change without notice at any time. Use of the product/service is subject to and governed by certain terms, conditions, and agreements required by M&T Bank.