Transferring Funds Between Clients

Overview

This tutorial will walk you through the steps to transfer funds from one client to another in TrustBooks. This can be used for your Trust Account or Operating Account.

Note: Keep in mind that fund transfers between clients for your Trust Account does not move any money in the bank account, you're just moving money from one matter to another matter for the Trust Account. You can also use this page to transfer funds from a client in your Trust Account to your operating account.

Steps:

From the Navigation Pane, select Transfer Money under the Deposits section. This will open the Transfer Money page.

Select the Date, and the Account from the drop-down menu you wish to transfer from:

Select the Client and related Matter to move the money from.

If transferring from the Operating Account select the Chart of Account where you want the transfer recorded.

Enter in the Amount that you wish to transfer from this Client. The Current balance will be displayed for this Client. Type in the Description.

Example: "Transfer to different client."

Under Transfer to select the Account and Client for the recipient of the transfer. Input the Amount, and Description for the transferred funds.

Select Transfer Funds.

Now the transfer is complete, you can check if the transaction was properly recorded using the steps below.

a. Search the Client Name you transferred funds from in the top right Search Bar.

b. Select the Client Name to view the client's ledger.

c. The Client Information Page will be displayed. You can see the transaction below.

The transfers will show as a payment to one account and a deposit to the other. You will need to make a note of this so you can check these as cleared transactions when you do your reconciliation.