Monthly Trust Reconciliation – Rule 3-65 -  Sample

TRUST BANK SEPTEMBER 30, 2006

TRUST ASSETS

Bank Reconciliation – Pooled Trust A/C 123-456

 

Balance per Bank Statement

$40,391.66

Add:  Outstanding deposits (per listing attached)

Nil

Less:  Outstanding cheques (per listing attached)

$Nil

Add/Deduct Adjustments

 

Less:  Interest on pooled trust to be forwarded to Law Foundation

$91.66

Subtotal

$40,300.00

Separate Interest Bearing Trust Account  (SIBA #99-001)

 

Innocent, Jimmy File #1003

$10,000.00

Total Trust Assets as at September 30, 2006

$50,300.00

 

TRUST LIABILITIES

Pooled Trust Account #123-456

 

                                                            Last Transaction Date

 

I.M. Lawyer          Client Matter # 1001          Aug 31 2006           

$     300.00

Injured, John        Client Matter # 1002          Sept 30 2006

$40,000.00

Subtotal

$40,300.00

Separate Interest Bearing Trust Account #9-8888

 

Innocent, Jimmy     Client Matter#1003          Sept 30 2006

$10,000.00

Total Trust Liabilities as at Sept  30/2006

$50,300.00 

Control Account – Trust Receipts and  Disbursement Journal

Beginning Balance                  (Aug  31 2006)

$300.00

Add:  Current Month receipts   (Sept  2006)

$50,000.00

Less: Current Month cheques (Sept  2006)

Nil

Ending Balance               (Sept 30 2006)

$50,300.00

Prepared by:

Date:

Reviewed and Approved by:

Date:

     

 

Tip

   

To complete the Monthly Trust Reconciliation the following balances must be equal:

1.         Reconciled Bank Balance (adjusted for outstanding deposits, outstanding cheques and other adjustments);

2.         Trust Liability Listing Balance (from the client trust ledger month-end balances);

3.         Control Account or Book Balance (from the Trust Receipts & Disbursements Journal or your General Ledger Control Account)