Transferring Money Between Trust Accounts

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 to move the money from:

If transferring from the Operating Account select the Chart of Account.

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.

Select the Account, Client, Amount, and Description for the Client you want to transfer the money to.

Example: "Move funds to different client."

Select Transfer Funds.

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

a. Using the Search Bar in the top right of TrustBooks, search the Client Name you transferred funds from.

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.