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.

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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
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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.