How to Record Interest

Overview: This will walk you through the steps on how to properly record interest in TrustBooks. 

  1. Create a Client called IOLTA Interest. 

From the Navigation Pane select CLIENTS & MATTERS and Create Client. 

  1. Enter IOLTA Interest in Client Name and Matter Name and select SAVE. 

  1. When interest is deposited into your bank account. Enter that as a deposit with the Client as IOLTA Interest. 

You can do this by selecting Deposits and Enter Deposit on the Navigation Pane

  1. Select IOLTA Interest as the Client, enter the Memo, select the Type, the Amount and the Date. Then select Record Deposit. 

  1. When the interest comes out of your bank account you will process this as a payment from the Client IOLTA Interest.

You can do this by selecting Withdrawals and Process Withdrawal on the Navigation Pane

  1. Select IOLTA Interest as the Client, fill in the Date, Amount, the Payee and Description. Then select Save Withdrawal.