About Recording Trust Transfer

A Trust Payment Transfers means you are transferring funds from Client A to Client B trust account.

Trust Transfer can only be done between Clients that have Matters created as Trust.

How to Record a Trust Transfer

To record a trust transfer, go to:

Clients & Matters sidebar menu > Matters tab > find the Client and Trust Matter’s Names > Actions menu > Record Trust Transfer > on the popup screen, you will notice that the “from client” and “from matter” fields will be pre-populated with information.

Select from the dropdown list in the “to client” and “to matter” fields. You can also create a “new client” or “new matter” if desired.

Trust Transfer and Bank Transaction

When you record a trust transfer, it will be available under the “Bank Transaction” > “Trust Receipt” tab with a “Pending” status, requiring you to confirm the deposit.

You will also notice that the amount transferred is recorded twice on the list of Trust Receipts – first as positive amount and second as a negative amount.

To Confirm the Deposit, go Bank Transaction > Trust Receipt > find the Trust Receipt and click the Pending button > on the pop-up window, check whether a deposit has been made. Select the Account Number.

You will have to setup the account number prior to using this feature, and ensure you select your Trust Account and not your General Account.

Check whether the “transaction has been reflected in the bank account.” If this is not checked, the trust transfer will remain in a “pending” status.

The Trust Receipt status will change from “Pending” to “Transaction Confirmed” only if you checked that both “the transaction is reflected in the bank account” and “deposit is made.”

Note: You will have to confirm the deposit separately for both the positive and negative amounts displayed.

Trust Transfer and Trust Reports

Recorded Trust Transfers are reflected in the following reports:

● Trust Receipt Journal
● Trust Transfer Record
● Trust Client Ledger
● Trust Account Deposit Slip

If the Trust Receipt status is “Pending” the transaction is not reflected in Trust Account Deposit Slip Report.

How to View a Recorded Trust Transfer

Go to:

Clients & Matters sidebar menu > Matters tab > find the Trust Matter’s Name > Actions menu > Record Trust Transfer > on the Record Trust Transfer screen, you can “view” all the recorded transfers.

How to Update or Delete a Recorded Trust Transfer

Go to:

Clients & Matters sidebar menu > Matters tab > find the Trust Matter’s Name > Actions menu > Record Trust Transfer > on the Record Trust Transfer screen, find the recorded transfer > actions menu > update or delete.

Trust Transfer & Trust Payment

When a trust transfer is performed, it is also automatically recorded as a Trust Transfer for the FROM trust account and a Trust Payment for the TO account.

Updated on: 08/09/2023