LIV Trust Accounting

What LIV Trust Accounting is

LIV Trust Accounting Online is a browser-based system for law practices to record trust accounting transactions. It handles receipts, payments, and transfers, and provides bank reconciliation, client ledgers, reports, and client contact details. The Law Institute of Victoria says the service complies with current legislation in the user's jurisdiction. A practice can provide up to 20 users with read-and-record or read-only access, and an External Examiner can receive read-only access to records. The service requires no installation and works through a browser on Mac or PC; Chrome is recommended for optimal performance. The maker describes secure website access and daily data backups. Subscriptions cost A$77 a month for LIV members or A$93.50 a month for non-members or interstate association subscribers, both including GST and allowing up to 20 users. Practice setup costs 385.00 AUD once and includes access for up to 20 users, up to two hours of training for two users, and a manual. Cancellation carries a once-off $550 (incl GST) fee. Data remains accessible but cannot be changed for seven years after cancellation.