Marathon Records™ is your complete IOLTA resource. We provide IOLTA One™, the only application designed specifically to address the rules-compliant IOLTA record keeping needs of attorneys and title insurers. Our online bookkeeping application is your bridge to maintaining accurate records of each of your client's funds, and can be accessed and updated securely from any computer or device. We also provide a suite of consulting and audit services, and a robust library of IOLTA resources.

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The Surplus Ledger

By floyd@marathon-records.com

Many bookkeepers create a surplus ledger to make the account reconcile. This surplus ledger negates the benefit of the reconciliation process, which is to identify errors or inconsistencies quickly so they can be corrected easily. The number of surplus ledgers has increased because (1) the American Land Title Association’s best practices and many title insurance companies require daily reconciliation and (2) most states’ rules of professional conduct for lawyers require regular reconciliations. Lawyers and title insurance agents are feeling the pressure to balance on a daily basis. A result of this pressure is the surplus ledger. READ MORE...

Credit Cards and Other Non-Traditional Payment Methods: Issues to Consider

By floyd@marathon-records.com

The interest generated in an IOLTA account is transferred to the state IOLTA committee. Even though the interest is put in by the bank and transferred these transactions need to be recorded in the main register in order to produce an accurate reconciliation report. The practical problem with interest is that banks typically credit the interest on the last business day of a statement period then transfer the interest to the IOLTA committee the first business day of the next statement period. Most banks do this monthly although some do it quarterly. Since this money is in the account on the last day of a statement period it needs to be accounted for in order to produce an accurate reconciliation report. READ MORE...