Trust Accounting

Regardless of where you input a trust deposit within the application, a matter must be selected as a trust accounting safeguard.

There are a few areas in which you can add a trust withdrawal:

You can edit, delete, or void a trust transaction.

You can utilize a single trust credit (deposit) or debit (withdrawal) from a trust account across multiple matters. However, please note that this method is not designed for recording invoice payments within your firm.

To review trust transactions:

If you wish to hold a certain amount in a matter's trust deposit account that cannot be used against invoice payments, you can place trust funds on hold.

Utilize our Low Retainer Reminder tool to monitor low retainer balances, commonly referred to as evergreen retainers, and generate replenishment reminders for clients.

Attorneys often retain a nominal amount of personal funds in their trust account to cover bank fees and other related incidentals. We refer to this as a personal buffer.

When you switch trust banks, you also transfer funds from the old account to the new at the matter level with a Matter to Matter Internal Trust Fund Transfer.

Ensuring accurate reconciliation of your account statements involves tracking the transactions related to Interest on Lawyer Trust Accounts (IOLTA) if your bank credits interest to your trust account and it reflects on your statements.

Ensuring accurate reconciliation of your account statements involves tracking the transactions related to Interest on Lawyer Trust Accounts (IOLTA) if your bank credits interest to your trust account and it reflects on your statements.