How to onboard your Trust Account and Operating Account in TrustBooks using PracticePanther

Overview: To complete your TrustBooks onboarding, here is what is needed. There are two different categories: (1) onboarding your trust bank account(s) and (2) onboarding your firm operating bank account(s) and firm financials.

Trust Bank Account(s):

  1. Start date that you want to start tracking your trust account in TrustBooks. You can go back as far as you like, but the further back you go the more data entry you will need to do to catch things up.
  2. Bank reconciliation as of your start date (if you have this available). This is typically where the uncleared transactions in Step #3 are pulled from.
  3. A list of all uncleared transactions as of your start date (be sure that this list includes Client and/or Matter Name).
  4. A list of all clients/matters and their available balance in your trust account as of your start date
  5. Your bank statements for the month prior to your start date.

We have an easy step by step workflow in the product that guides you through setting up your trust bank account(s). Here is the support documents that help walk you through each step: Onboarding your Trust Account using PracticePanther

Firm Operating Bank Account(s) and Firm Financials:

  1. Start date that you want to start tracking your firm operating account(s) in TrustBooks. You can go back as far as you like, but the further back you go the more data entry you will need to do to catch things up.
  2. Bank reconciliation as of your start date (if you have this available). This is typically where the uncleared transactions in Step #3 are pulled from.
  3. A list of all uncleared transactions as of your start date (be sure that this list includes Client and/or Matter Name).
  4. Balance Sheet and Income Statement as of your start date (typically pulled from prior accounting software).
  5. Chart of Accounts listing (typically pulled from prior accounting software).
  6. Your bank statements for the month prior to your start date.

We have an easy step by step workflow in the product that guides you through setting up your firm operating bank account(s) and firm financials. Here is the support documents that help walk you through each step: How to onboard your Firm Operating Account

Most of our users complete this onboarding process themselves. We do offer a paid onboarding service if you would like to outsource these steps to our team. Let us know if you prefer to have our team complete, and we can get some additional information to work up an onboarding proposal.