Money and trust
Client trust ledger kept apart from firm money
Money a client gives you to hold — a retainer, a deposit, money for filing costs — is not the chamber’s money until it is earned. LawKona records it on its own list, called a trust ledger, separate from the firm’s fees. The only way to move client money into fees is to apply it to an invoice, and every movement is recorded.
The problem it solves
How most chambers do it today
In many chambers a client’s deposit for filing costs and the firm’s professional fees land in the same bank account and the same Excel sheet. Months later nobody can say exactly how much of a client’s money is left, what it was spent on, or whether some of it was taken as fees without an invoice. That is uncomfortable for the client and a real risk for the lawyer.
What changes with LawKona
LawKona keeps a separate record of what the chamber holds for each client, against each matter, with a running balance. Client money becomes fees only through an invoice, and only a principal or admin can do it.
In practice
A retainer for a company registration in Abuja. The chamber and people are illustrative; every step is how LawKona works today.
A client pays Bello Legal ₦500,000 up front for a company registration. The admin records it as a deposit on the trust ledger, against the client and the matter.
The associate logs time on the matter as the work is done.
When the work is finished, the admin creates an invoice for the fees and finalises it.
The principal applies ₦300,000 of the trust balance to the invoice. The movement is recorded, and the trust ledger shows ₦200,000 still held for the client — an answer ready the moment the client asks.
How it works
Hold client money in trust
Open a trust account for client money and record deposits and retainers against the client and the matter.
Log time and draft the invoice
Record minutes, rate, and a description on the matter as you work. Create an invoice for the client, pull in unbilled time, add line items, and finalise it.
Send the invoice
Download a PDF on your letterhead, or email the client a payment link for what is still owed. Online payments land in the firm account, not trust.
Apply trust to the invoice
Applying trust money to an invoice is the only way client money becomes fees, and it is recorded. Withdrawals, transfers, and applying to fees are for principals and admins.
Read the Money hub
See money in trust, disbursed this month, unpaid invoices, this month’s fees, and money in the firm — and reconcile each trust balance against the bank statement.
Who uses it
Principal or partner
Control over client money: only principals and admins can withdraw, transfer, or apply it to fees.
Admin or accountant
A balance per client and per matter, a record of every movement, and a trust balance to check against the bank statement.
Associate
Somewhere to record deposits and time on the matter without touching the firm’s books.
Why it helps your chamber
Client money stays client money
Retainers and deposits sit on their own ledger, and the only route to fees is applying them to an invoice — so funds are never mixed by accident.
Answer “how much of my money is left?” instantly
Every deposit, payment, and application is recorded against the client and the matter, with a running balance.
Only senior people can move it
Withdrawals, transfers, and applying trust to fees need a principal or admin, and each movement is logged.
What it looks like
Money
Client money · trust
Held for the client. Never mix with fees.
₦ 2,450,000
Firm money · fees
Invoiced and collected fees. Not trust.
₦ 380,000
Included in
Free, Solo, Practice, and Chambers. Free for 1 lawyer and 3 properties, no card needed.
Included on Free, Solo, Practice, and Chambers. Not part of Student / Clinic.
Money and trust questions
- Does LawKona hold our clients’ money?
- No. The money stays in your chamber’s own bank account. LawKona is the record of what you hold for each client and of every movement.
- Can anyone in the chamber move client money?
- No. Withdrawals, transfers, and applying trust money to fees need a principal or an admin. Everyone else can record deposits and time.
- Which currency?
- Naira. Amounts are recorded to the kobo.
- Does this replace our accountant?
- No. It keeps client money and fees apart and records every movement, which makes your accountant’s job — and your own reconciliation — much easier. Export the trust ledger to Excel (CSV) for them.
- Is Money part of Student / Clinic?
- No. Student / Clinic workspaces are for practice drafting and do not hold client money.