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About

Nota

Nota, by M&T Bank Logo

Lawyerist Rating for Nota

i

Rating Breakdown

Our Rating: 4.7/5

Our rating is based on our subjective judgment. Use our resources—including our rating and community ratings and reviews—to find the best fit for your firm.

4.7/5

Overview
Featured Rating

What is Nota?

Nota is a trust account manager that runs directly out of the user’s IOLTA account. It is provided gratis to any M&T Banking customer with an IOLTA account. It can integrate directly into your QuickBooks Online account, although, the real power comes from not needing to do this. Users write checks directly from the application, and track individual client trust accounts from within the system.

Starting Cost: Gratis with M&T Bank IOLTA account

Pros
  • Price
  • Advanced Trust Accounting
  • 3-way Reconciliation
Cons
  • Lack of Integrations
  • Add-on Product
  • Only for M&T Customers
Overview
Featured Ratings

Nota Features

Customer Experience & Support

/5

Price & Value

/5

Security

/5

Innovation & Future-Proofing

/5

Overview
Featured Rating
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Product Details

Apps
  • Web

Core Features

For Accounting & Bookkeeping, the following are essential features, and you should therefore expect to see a check in every box in this section.

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Basic Bookkeeping

This means simple double-entry bookkeeping.

Connect Bank Accounts

Link your bank accounts for up-to-date transaction information with little or no manual data entry.

Billing/Invoicing

Online Payments

This means the ability to accept credit card or echeck payments within your accounting software, either through its own payment portal or via a third-party integration like PayPal or Square. Most online payments involve a separate processing fee.

Timekeeping

Mileage Tracking

Keep track of miles traveled visiting clients or heading to the courthouse, making it easier to tally for taxes or billing purposes or add to your expense reports.

Bill Payment

Pay your firm's bills without leaving your accounting software.

Statement Reconciliation

Helps with the complex task of balancing your business accounts. Does not necessarily include more advanced reconciliation features like three-way trust account reconciliation.

Payroll

Payroll includes automatically calculating employee taxes, printing checks, and paying by direct deposit.

Tax Preparation

Some accounting software can also be used to prepare taxes for your firm so you can review, approve, and even pay your taxes all in one place.

Reporting

Businesses need reports to help assess key business performance indicators like profit and accounts receivable. Some products have more robust reporting features than others.

Foreign Currencies

Check Printing

Contact Management

Store contacts for invoicing or billing purposes.

User Management

User Management means the software allows your firm to differentiate between persons who have access to the information and adjust their levels of access based on their relevant users statuses.

Split Origination Reporting

This means that the product allows your firm not only to track where a file came from but also to allocate a percentage of the origination to individual users.

Recurring Payments

Some providers will allow you to set up recurring payments for your clients that will be automatically debited based on selections your clients make.

Trust Account Management

This means the product allows you to differentiate between client trust accounts and track them individually. It also means that the product helps you manage your three-way reconciliation.

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Additional Details about Nota

Tied into Banking Infrastructure

Since Nota is a product of M&T Bank, it is essentially an extension of their current online banking offering. Importantly, Nota is not a software application that is simply connected to your bank account (using something like Plaid). It is tied directly into the infrastructure of M&T Bank’s online banking. Not only does this eliminate steps, but it reduces uncertainty in your (or your clients’) account balances.

Three-way Reconciliation

Nota makes it easy to reconcile your Trust Account balance, your Client Account balances, and your internal trust account books. By maintaining the Client Account balances within the application, there are less steps to deal with in this process, and your balances remain much more up-to-date.

Checks and Balances

One of the most convenient features of Nota is the ability to write checks directly out of the system (although, you can link QuickBooks Online). As a result of this feature, since the application tracks Client Account balances, it will warn you when a check is written for more than is available.

Further, since M&T Bank built this application specifically for attorney trust accounts, Nota will warn you if a disbursed check remains un-deposited for more than 30 days,.

User Management

Nota allows for multiple user types in the system. Obviously, some users will have full privileges. However, owners can easily set-up specific accounts to only tag transactions, and not have the ability to move any money.

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