Accounts Receivable Retainers vs Trust Retainers

from Accountants Law Pod™ · host Lynda Artesani, Sarah Prevost, and Steven Libhart

In this episode we break down one of the most misunderstood areas in legal accounting: accounts receivable (AR) retainers vs. trust retainers. From compliance risks to workflow bottlenecks, they explore the key differences, common mistakes, and best practices for handling each type of retainer—so you can stay audit-ready and aligned with legal ethics rules. If you’ve ever second-guessed where that client deposit belongs—this episode is for you. --------------------------------------- 01:00 Accounts Receivable Retainers vs Trust Retainers 01:55 Software and Workflow Challenges 03:08 Practical Tips and Manual Work 05:48 Jurisdictional Differences and Regulations 06:20 Explaining Retainers to Clients 14:26 Billing Models and Compliance 16:36 Deciding on Client File Priorities 17:35 Subscription Methods for Better Cash Flow 18:03 Prepaid Services and Liabilities 19:01 Complexities of Accounts Receivable 20:17 Reconciling Financial Discrepancies 22:44 Best Practices for Managing Client Funds 24:14 Challenges with Bank Feeds and Real-Time Balances 26:36 Ensuring Accurate Billing and Trust Management ------------------------------------- Be sure to subscribe for more episodes! Find us on YouTube as well! If you have questions, topic requests, or guest suggestions you can email us at [email protected] or send us a message through our website, www.accountantslawpod.com If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up! If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod. Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

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This episode is 32 minutes long.

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This episode was published on May 1, 2025.

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