Creating a Trust Entry

To create a trust entry:

 

  • Select Trust under Payments tab.

 

  • Select the Client/Matter.

 

  • The trust account should populate in the Trust Account field.

 

  • Or click the plus sign to the right to create a new one.

Note: Creating a new account for a matter does not create a new bank account, only a dedicated area to track funds specific to this matter.

 

  • The Name can be changed to Trust, Retainer, or a custom title.

 

  • The available Bank accounts will be displayed in a drop down list.

 

  • Enter the appropriate minimum value for replenishment in the Replenish Below field, and the value the account should be Replenished To.

Note: Replenishment values will automatically be added to invoices when the account balance is below the Replenish Below value.

 

  • Click Save.

 

  • Select Transaction type from the drop down. Selecting Disbursement will activate the Paid To field.

 

  • Specify the Date this transaction will be recorded in their account.

 

  • You can specify who you are sending the money to in the Paid To field. Enter the name of the customer whom the balance has to be refunded.

 

  • Reference field can be used to add a check number.

 

  • Specify the Amount you are sending out.

 

  • Notes field can be used to enter a specific note regarding the transaction.

 

  • Click Save

 

  • Click the Allocate link to allocate the funds to invoices.

 

  • Click the Delete link to remove the entry.