Nota, by M&T Bank Logo

Nota

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Nota Rating:
4.7/5

Features

  • Customer Experience & Support - 8.5/10
    8.5/10
  • Pricing & Value - 9.25/10
    9.3/10
  • Security - 10/10
    10/10
  • Innovation & Future-Proofing - 9.5/10
    9.5/10
9.3/10
Details

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.

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.

Who Nota is For

A trust account manager, like Nota, would be good for any practical, really. But attorneys with high volume trust transactions, like Real Estate attorneys, will likely benefit the most. Quite simply, this marriage of services saves time on a per-transaction level. The more transactions, the more time (and money) saved.

Alternatively, those who rely mainly on flat-fees, or who simply don’t have a lot of IOLTA account transactions, likely won’t see a benefit.

Nota Features

Website
trustnota.com
Apps
  • Web
Starting Price
Gratis with M&T Bank IOLTA account
Free Trial
Bookkeeping
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
Manage multiple users, including your accountant and tax preparer, or multiple billers or timekeepers at the firm.

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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