19 Best Trust Accounting Software Reviewed in 2025
Best Trust Accounting Software Shortlist
Here’s my shortlist of the best trust accounting software:
Our one-on-one guidance will help you find the perfect fit.
As a financial controller, I’ve seen how trust accounting can quickly become a headache without the right tools. Manual tracking and spreadsheets leave too much room for error, and compliance missteps can lead to serious financial and legal consequences.
The right trust accounting software helps businesses stay compliant, prevent errors, and maintain transparency. Whether you’re managing escrow accounts, legal retainers, or real estate transactions, a reliable system ensures accuracy and keeps your company protected from costly mistakes.
But with so many solutions on the market, where do you even start?
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With one-on-one help, we guide you to your top software options. Narrow down your software search & make a confident choice.
To help you get your search started, I tested and reviewed the best trust accounting software so you find the perfect fit. If you need automation, built-in compliance checks, or seamless reporting, you’ll get a breakdown of the top options so you can make the best choice for your company.
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Best Trust Accounting Software Summary
This comparison chart summarizes pricing details for my top trust accounting software selections to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 | Best for cloud-based access | 10-day free trial + free demo available | From $65/user/month (billed annually) | Website | |
| 2 | Best for user-friendly interface | 7-day free trial | From $39/user/month (billed annually) | Website | |
| 3 | Best for comprehensive reporting | Free demo available | From $32/user/month (billed annually) | Website | |
| 4 | Best for solo practitioners | Free trial available | From $79/user/month (billed annually) | Website | |
| 5 | Best for affordability | Free plan available | From $10/user/month | Website | |
| 6 | Best for loan servicing | Free demo available | Pricing upon request | Website | |
| 7 | Best for public sector use | Free demo available | Pricing upon request | Website | |
| 8 | Best for document management | Free demo available | From $129/user/month (billed annually) | Website | |
| 9 | Best for small legal firms | 14-day free trial available | From $59/month | Website | |
| 10 | Best for vacation rentals | Free demo available | From $15/user/month (min 5 seats, billed annually) | Website |
Best Trust Accounting Software Reviews
Below are my detailed summaries of the best trust accounting software that made it onto my shortlist. My reviews offer an in-depth look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Rocket Matter is a cloud-based legal practice management software designed for law firms of all sizes. It offers trust accounting, billing, and case management to help you efficiently manage your legal practice.
Why I picked Rocket Matter: Rocket Matter provides cloud-based access, which means you can manage your practice from anywhere. Along with its valuable key system options, the software provides real-time data access, keeping your team updated on client matters, and customizable dashboards, giving you a clear view of your firm's performance. Plus, with its focus on mobility, Rocket Matter ensures you have the flexibility to work on the go.
Standout features & integrations:
Features include task management, time and expense tracking, and automated billing. These features help you streamline your daily operations and keep track of billable hours. Rocket Matter also provides advanced reporting tools to help you analyze your firm's financial health.
Integrations include QuickBooks, LawPay, NetDocuments, Microsoft 365, Google Workspace, Dropbox, Box, OneDrive, Clio, and MyCase.
Pros and cons
Pros:
- Cloud-based for easy access
- Advanced reporting tools
- Task management features
Cons:
- Limited offline capabilities
- May require additional training
PracticePanther is a legal practice management software designed for law firms of all sizes. It offers tools for trust accounting, billing, and task management, helping you run your practice smoothly.
Why I picked PracticePanther: PracticePanther offers a user-friendly interface, making it accessible for firms without extensive technical expertise. The platform provides straightforward trust accounting features that simplify managing client funds, while its automated billing and invoicing help reduce administrative burdens.
Standout features & integrations:
Features include task management, document automation, and client communication tools. These features help you keep your practice organized and efficient. PracticePanther also offers time tracking to ensure accurate billing for your clients.
Integrations include QuickBooks, LawPay, Dropbox, Google Drive, OneDrive, Box, Microsoft 365, Clio, NetDocuments, and Xero.
Pros and cons
Pros:
- Automated billing and invoicing
- Efficient task management
- Document automation
Cons:
- Limited advanced features
- May require additional training
Tabs3 is a legal practice management software designed for law firms looking to manage their trust accounting and billing. It provides tools for financial management, helping you keep track of client funds and compliance.
Why I picked Tabs3: Tabs3 offers advanced reporting features, making it a valuable tool for firms needing detailed financial insights. The software provides customizable reports that allow you to focus on specific data points relevant to your practice. Its trust accounting functionality also helps you manage client funds with accuracy. In my opinion, these features, combined with its additional reporting capabilities, make it ideal for firms that prioritize financial transparency.
Standout features & integrations:
Features include automated billing processes, trust account reconciliation, and client fund management. These features help your team handle financial tasks with ease and accuracy. Tabs3 also provides a secure platform for managing sensitive financial data.
Integrations include QuickBooks, LawPay, Microsoft 365, Google Workspace, NetDocuments, Clio, MyCase, PracticePanther, Xero, and Dropbox.
Pros and cons
Pros:
- Customizable financial reports
- Accurate trust accounting
- Secure data management
Cons:
- Complex setup process
- Limited scalability for large firms
CosmoLex is an all-in-one legal practice management software designed for solo practitioners and small law firms. It combines trust accounting, billing, and practice management to help you manage your legal practice efficiently.
Why I picked CosmoLex: CosmoLex caters to solo practitioners by integrating trust accounting with practice management. It provides a built-in legal-specific accounting system, eliminating the need for third-party software. The software also offers automatic bank account data feeds to keep things updated effortlessly. Additionally, teams can benefit from its real-time matter cost tracking, which makes sure you never miss billing a client for expenses.
Standout features & integrations:
Features include automated billing reminders, compliance tracking, and a client portal. These features help you stay on top of your financial responsibilities and improve client communication. CosmoLex also offers secure document management, ensuring your legal files are safe.
Integrations include QuickBooks, LawPay, NetDocuments, Microsoft 365, Google Workspace, Dropbox, Box, OneDrive, Clio, and MyCase.
Pros and cons
Pros:
- Built-in legal accounting
- Automatic bank data feeds
- Real-time cost tracking
Cons:
- Steep learning curve initially
- Limited customization options
CaseFox is a legal practice and case management software for solo practitioners and small law firms. It focuses on providing cost-effective trust accounting and billing solutions to help you manage your practice efficiently.
Why I picked CaseFox: CaseFox offers an affordable solution for legal professionals who need reliable trust accounting. It includes features like time tracking and invoicing, which are essential for managing client billing, and also provides trust account management, helping you maintain compliance without breaking the bank. Overall, I believe that its affordability makes it one of the more accessible software options for firms with limited budgets.
Standout features & integrations:
Features include advanced reporting, client management, and document automation. These features help you stay organized and efficient in your practice. CaseFox also offers task management tools to your workflow and keep your team on track.
Integrations include QuickBooks, LawPay, Dropbox, Google Drive, OneDrive, Box, Xero, PayPal, Stripe, and Microsoft 365.
Pros and cons
Pros:
- Efficient invoicing system
- Trust account management
- Task management tools
Cons:
- Limited advanced features
- Basic user interface
The Mortgage Office is a detailed loan servicing software designed for lenders and loan servicers. It provides tools for managing loan portfolios, trust accounting, and compliance, offering value to users by these complex tasks.
Why I picked The Mortgage Office: The Mortgage Office offers specialized features for loan servicing, making it ideal for lenders who need detailed trust accounting. It provides tools for managing loan portfolios compliance with regulatory standards. The software's reporting capabilities also give you insights into financial performance and risk management.
Standout features & integrations:
Features include automated payment processing, escrow management, and investor reporting. These features help you manage loans efficiently and keep stakeholders informed. The Mortgage Office also offers compliance tracking to ensure adherence to industry regulations.
Integrations include QuickBooks, Microsoft Excel, Docusign, Salesforce, Netsuite, Calyx Point, LendingQB, LoanPro, SugarCRM, and HubSpot.
Pros and cons
Pros:
- Detailed trust accounting
- Robust compliance tracking
- Investor reporting features
Cons:
- Steep learning curve
- Limited scalability for small firms
ComVida is an advanced legal trust accounting software for public sector organizations. It focuses on managing and operating accounts receivable, accounts payable, and general client ledger functions to help you maintain financial compliance and efficiency.
Why I picked ComVida: ComVida is designed specifically for the public sector, offering features that address regulatory requirements. The software’s detailed financial reporting is vital for transparency in public finances, while its accounts receivable and payable modules ensure accurate tracking of funds.
Standout features & integrations:
Features include payroll management, budget tracking, and audit trails. These features help your team manage finances with precision and accountability. ComVida also offers customizable reporting, allowing you to customize reports to specific organizational needs.
Integrations include Microsoft Excel, QuickBooks, Sage, SAP, Oracle, ADP, Kronos, Paychex, Workday, and PeopleSoft.
Pros and cons
Pros:
- Tailored for public sector requirements
- Detailed financial reporting
- Accurate accounts management
Cons:
- Requires training for new users
- Limited scalability for large organizations
LEAP is an advanced legal practice management software for law firms of various sizes. It focuses on trust accounting, document management, and billing to help you manage your legal practice efficiently.
Why I picked LEAP: LEAP excels in document management, offering tools that simplify organizing and accessing legal documents. In addition to this, the software provides a centralized document repository, ensuring your team can easily retrieve files when needed. It also supports automated document creation, saving time on repetitive tasks.
Standout features & integrations:
Features include time tracking, billing automation, and task management. These features help you streamline your daily operations and ensure accurate billing. LEAP also offers advanced reporting tools to analyze your firm's performance effectively.
Integrations include QuickBooks, LawPay, Microsoft 365, Google Workspace, NetDocuments, Dropbox, Box, OneDrive, Clio, and MyCase.
Pros and cons
Pros:
- Centralized document repository
- Automated document creation
- Comprehensive reporting tools
Cons:
- Steep learning curve
- Complex setup process
TrustBooks is a legal accounting software tailored for small legal firms, focusing on simplifying trust accounting and ensuring compliance with state bar regulations.
Why I picked TrustBooks: TrustBooks caters specifically to small legal firms, offering features that make trust accounting straightforward and compliant. Its client-level activity tracking lets you monitor each client’s financials easily, while its one-click reporting provides quick access to necessary data, saving your team time. Additionally, the software provides reconciliations that ensure accuracy without needing an accounting background.
Standout features & integrations:
Features include automated trust reconciliation, customizable reporting, and client payment tracking. These features help you maintain compliance and manage client funds effortlessly. Also, the software's user-friendly interface further simplifies complex accounting tasks.
Integrations include QuickBooks, LawPay, Clio, MyCase, PracticePanther, Filevine, OnPay, Xero, and NetDocuments.
Pros and cons
Pros:
- Easy trust reconciliation
- Customizable reports
- Client payment tracking
Cons:
- Limited scalability
- Basic plan lacks some features
Track is a vacation rental trust accounting solution designed for property managers and rental businesses. It focuses on managing financial transactions, reservations, and client communications to enhance your rental operations.
Why I picked Track: Track specializes in vacation rentals, offering features to manage properties efficiently. It provides reservation management tools, making sure you never miss a booking. The software also includes advanced trust accounting, which is vital for securely handling client funds. Together, these features make it a valuable choice for property managers dealing with trust accounts.
Standout features & integrations:
Features include automated billing processes, customizable reporting, and guest communication tools. These features enhance customer interactions. Track also offers owner statements to keep property owners informed about financial activities.
Integrations include QuickBooks, Airbnb, Vrbo, Booking.com, Expedia, Stripe, PayPal, Mailchimp, Google Analytics, and Microsoft 365.
Pros and cons
Pros:
- Tailored for vacation rentals
- Comprehensive trust accounting
- Efficient reservation management
Cons:
- Complex setup process
- Limited scalability for large operators
Other Trust Accounting Software
Here are some additional trust accounting software options that didn’t make it onto my shortlist, but are still worth checking out:
- LeanLaw
For legal billing integration
- Estateably
For estate planning
- QuickBooks Online
For small business accounting
- Actionstep
For legal case management
- Clio
For law firm management
- FIS Trust Accounting
For financial institutions
- Chetu
For custom software solutions
- NetSuite Cloud Accounting
For ERP integration
- Centerbase
For mid-sized law firms
Trust Accounting Software Selection Criteria
When selecting the best trust accounting software to include in this list, I considered common buyer needs and pain points like compliance with legal regulations and ease of fund management. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Manage client trust transactions and accounts
- Manage bank reconciliation statements
- Generate financial reports
- Track client trust account funds
- Ensure compliance with regulations
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Automated interest calculations
- Multi-currency support
- Additional bookkeeping features
- Integration with legal practice management systems
- Customizable reporting templates
- Mobile access for on-the-go management
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Easy navigation
- Minimal training required
- Responsive design
- Clear, concise documentation
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Access to chatbots or live support
- Comprehensive onboarding webinars
- Pre-built templates for quick setup
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 availability
- Multiple support channels
- Fast response times
- Knowledgeable support staff
- Access to a detailed help center
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Transparent pricing structure
- Feature-to-price ratio
- Availability of tiered plans
- Discounts for annual subscriptions
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Consistency in positive feedback
- Commonly reported issues
- Frequency of updates or improvements
- Customer retention rates
- Overall satisfaction score
How to Choose Trust Accounting Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Ensure the software can grow with your firm. Look for features that support increasing client accounts and expanding operations without performance issues. |
| Integrations | Check if the software integrates with existing tools like QuickBooks or your CRM to streamline processes and reduce manual entry. |
| Customizability | Opt for solutions that allow you to tailor workflows and reports to fit your specific needs, enhancing efficiency and user satisfaction. |
| Ease of Use | Choose software with an intuitive interface that requires minimal training, so your team can be productive quickly. |
| Budget | Consider the total cost, including setup fees and ongoing expenses. Look for flexible pricing plans that align with your financial constraints. |
| Security Safeguards | Ensure strong data protection features like encryption and regular backups to keep sensitive client information secure. |
| Compliance | Verify that the software meets all legal and industry standards to avoid regulatory issues and maintain trust with clients. |
| Customer Support | Look for providers with responsive support that can help resolve issues quickly, ensuring minimal disruption to your operations. |
Trends in Trust Accounting Software
In my research, I sourced countless product updates, press releases, and release logs from different trust accounting software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-Driven Insights: More vendors are incorporating AI to analyze financial data and provide actionable insights. This helps firms make informed decisions by identifying patterns and predicting future trends.
- Blockchain Integration: Blockchain is being used to enhance transparency and security in transactions. It provides an immutable record of all financial activities, ensuring trust and accuracy. Vendors adopting blockchain offer greater assurance against fraud and data tampering.
- Client Portals: There’s a growing demand for client-facing portals that allow clients to access their financial data securely. These portals improve client communication and satisfaction by offering real-time updates and easy document sharing.
- Regulatory Compliance Tools: With regulations constantly changing, software that automatically updates compliance requirements is in demand. These tools help firms stay compliant without manual checks, reducing the risk of fines and penalties.
- Environmental Reporting: As sustainability becomes crucial, trust accounting software is integrating features to track and report on environmental impact. This trend supports firms looking to enhance their green credentials and meet regulatory demands.
What Is Trust Accounting Software?
Trust accounting software is a specialized tool designed to manage client funds held in trust, ensuring compliance with legal and financial regulations. Legal professionals, accountants, and financial institutions typically use these tools to handle client accounts accurately.
These tools offer key features like automated reconciliation, compliance tracking, and client portals to help with managing funds, staying compliant, and improving client interactions. Overall, trust accounting software provide peace of mind by ensuring accurate and secure management of trust accounts.
Features of Trust Accounting Software
When selecting trust accounting software, keep an eye out for the following key features:
- Automated Reconciliation: Automatically matches transactions with bank statements, reducing errors and saving time.
- Compliance Tracking: Ensures adherence to legal standards and updates with changing regulations to avoid penalties.
- Client Portals: Provides clients with secure access to their financial data, enhancing transparency and communication.
- Document Management: Organizes and stores important documents digitally, making retrieval easy and efficient.
- AI-Driven Insights: Analyzes financial data to provide actionable insights and predict future trends, aiding in decision-making.
- Blockchain Integration: Offers enhanced transaction security and transparency through an immutable record.
- Customizable Reporting: Allows users to tailor reports to specific needs, providing relevant and actionable data.
- Environmental Reporting: Tracks and reports on environmental impact, supporting sustainability initiatives.
- Escrow Management: Manages escrow accounts efficiently, ensuring funds are handled correctly and securely.
Benefits of Trust Accounting Software
Implementing trust accounting software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved Accuracy: Automated reconciliation reduces manual errors in financial transactions, ensuring precise records.
- Enhanced Compliance: Compliance tracking keeps your firm up-to-date with regulations, preventing costly penalties.
- Increased Transparency: Client portals offer clients direct access to their account information, building trust and improving communication.
- Time Savings: Features like automated billing and document management free up time for your team to focus on other tasks.
- Better Decision-Making: AI-driven insights provide actionable data, helping your firm make informed financial decisions.
- Security Assurance: Blockchain integration ensures transaction security and data integrity, protecting sensitive information.
Costs and Pricing of Trust Accounting Software
Selecting trust accounting software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in trust accounting software solutions:
Plan Comparison Table for Trust Accounting Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic transaction tracking, limited users, and basic reporting. |
| Personal Plan | $10-$30/user/month | Transaction tracking, client portals, compliance tools, and basic customer support. |
| Business Plan | $30-$60/user/month | Advanced reporting, document management, automated billing, and enhanced customer support. |
| Enterprise Plan | $60-$100/user/month | Full customization, AI-driven insights, blockchain security, dedicated support, and training resources. |
Trust Accounting Software FAQs
Here are some answers to common questions about trust accounting software:
Can trust accounting software integrate with other systems?
Yes, many trust accounting tools integrate with systems like QuickBooks or CRM tools. These integrations streamline processes by reducing manual data entry and ensuring consistency across platforms. This connectivity enhances efficiency and accuracy in managing client funds.
What are the security features of trust accounting software?
Trust accounting software often includes features like data encryption, user access controls, and audit trails. These features protect sensitive financial information from unauthorized access. By implementing these security measures, the software ensures the confidentiality and integrity of client data.
How does trust accounting software handle multi-currency transactions?
Some trust accounting management solutions support multi-currency transactions, allowing you to manage international clients easily. It automatically converts currencies based on real-time exchange rates, ensuring accurate financial records. This feature is beneficial for firms with global operations.
What kind of customer support is available for trust accounting software?
Most trust accounting software providers offer customer support through channels like phone, email, and live chat. They may also provide resources like FAQs, tutorials, and webinars to help you understand the software. Effective support ensures you can resolve issues quickly and efficiently.
Is it possible to customize reports in trust accounting software?
Is it possible to customize reports in trust accounting software?
Yes, many trust accounting software solutions offer customizable reporting features. You can tailor reports to meet your specific needs, focusing on relevant data points. This flexibility allows you to generate insights that are most valuable to your firm’s operations.
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