Purpose & Benefit: You can set up client level Trust account settings. Trust accounting is a unique complication for law firms and there are severe penalties if not done right. TimeSolv allows you to manage your Trust payments easily and quickly. You can also auto-pay invoices from your Trust account as well as place replenishment funds onto an invoice automatically when the Trust falls below the threshold you designate. Trust accounting is one less thing to worry about with TimeSolv.
In order to view Client level Trust settings, please ensure Trust Accounting is enabled under Payments>Settings>Enable Trust Accounting.
To define client level trust account settings:
- Click on Clients & Matters under Clients tab.
- Click on the Matter (example below).
- Click on the Trust tab.
- Click on New Trust button to create a new trust account.
- Specify the Name of your new trust account.
- Specify the Bank Account (Default is Trust Account).
- Click on Matter Default checkbox to make this account the default account for this matter.
- Specify a Replenish Below value.
Note: You cannot leave this field as 0. You must enter in a numerical value above 0.
- Specify the Replenish To value.
- Select checkbox Auto Pay Invoices from This Trust? if you wish to turn the auto pay feature on for this account and matter.
- Ensure Active? checkbox is on to activate the account.
- Click Save.
- Click on Delete to delete a trust account.
Note: you cannot delete a Trust Account if there is anything tied to the account.
- You can view Trust Account details by selecting the account from the drop down list and viewing in the table below, or by running a Trust banking report.