Marathon Records™, Inc. was formed to create a complete online IOLTA resource center and a software application for attorneys that's easy to use and specifically focused on rules for maintaining IOLTA account records.
We provide a library of IOLTA resources, a suite of consulting and audit services, and our bookkeeping application, IOLTA One.
IOLTA One is designed specifically for IOLTA accounts to be easy to use, prevent the most common mistakes, and keep records in compliance with IOLTA rules and ALTA best practices. We audited over a thousand IOLTA accounts, interviewed lawyers, researched each states' IOLTA rules, and studied the performance of various bookkeeping applications. We identified the most common mistakes and when they are made in the bookkeeping process. We then studied how different applications allowed these mistakes and determined how to prevent them. IOLTA One reduces proper IOLTA bookkeeping to a simple data entry function.
IOLTA accounts are unique bank accounts where an attorney holds money for multiple client matters at the same time and is required to keep separate records for each client matter. Popular accounting packages don't have the built –in tools or processes to keep compliant IOLTA account records. The IOLTA One application was designed with direct input from attorneys and accountants to provide this functionality securely from any computer or device. The end result is a secure application that requires an attorney to enter a transaction into a client matter only once and confirm the transaction has cleared the bank. The application does everything else automatically. IOLTA One will automatically create a ledger for each client matter, a main register for the account, and a three way reconciliation report that lists the total of all individual ledgers, the main register balance, and the adjusted bank statement balance. Even better, IOLTA One will prevent the user from making common mistakes like authorizing a disbursement that will cause a negative balance.
Shirley, NY 11967
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