Using Month-End Reports
This tutorial will provide you with an overview of month-end reports in TrustBooks.
- From the Navigation Pane, select View Month End Reports under the REPORTS drop-down.
The Month-End Reports page is displayed.
Note: TrustBooks automatically generates 4 predefined reports at month-end. Once the reconciliations are completed, TrustBooks then compiles the detailed and three-way reconciliations.
- If you have multiple accounts, select the Trust Account you would like to view in the drop-down box.
- Click on the Report you want to view.
Overview of the Different Month End Reports
Trust Ledger Report
The Trust Ledger Report shows all the activity in and out of your trust account for the specific month. The report starts with a beginning balance and lists each transaction at a high-level, following the trust account for the month.
The Payments Report shows all payments made out of the trust account for the specific month. This report is synonymous with the check register.
The Deposits Report shows all the deposits made for the specific month.
Note: The Deposits Report is particularly helpful if you had a deposit slip with multiple transactions because the report breaks out each transaction.
Client Activity Report
The Client Activity Report shows each active client for the month, listing their beginning balance, any transactions during the month, and their ending balance.
Note: The Client Activity Report is helpful because it provides a single snapshot of all your clients with their activity for the month.
Detailed Reconciliation Report
The Detailed Reconciliation Report shows cleared and uncleared deposits and payments. It also shows your ending trust account balance.
Note: Once the reconciliations are completed under Perform Trust Reconciliation, TrustBooks then compiles the Detailed Reconciliation reports.
The Three-Way Reconciliation Report shows your bank account balanced to your total client balance and to your trust account ledger balance.
Note: Once the reconciliations are completed under Perform Trust Reconciliation, TrustBooks then compiles the Detailed Reconciliation reports