For most businesses, having uncleared funds isn’t an issue, but law firms are required to make an effort to find out why those funds are still uncleared. For example, if a check has been written but hasn’t been deposited yet a law firm must follow up to determine the reason why and correct it as needed. That could mean finding a new address for the individual or company or reissuing a lost check. The simplest way to find out what is still open is to review monthly reconciliations. Learn more about legal accounting compliance.