5. Transferring Funds Between Client Ledgers
While receipts of trust money or writing a trust cheque are routine transactions on a pooled trust account, there is a third type of transaction that may happen. There may be occasions on which the law firm needs to be able to transfer money from one client trust ledger to another client trust ledger. While these are permitted, it is essential to ensure that the proper bookkeeping accompanies these transfers. Please refer to the section on Record Keeping for a detailed explanation of those requirements.