LAWS/Pro: Option to post trust funds to a Client rather than a specific Matter
provides the ability to manage the firm's client trust account.
Until now, all trust transactions needed to be associated with a specific matter resulting in an accurate allocation of the
trust account by matter.
Often times clients have multiple matters to which trust funds may apply.
This enhancement provides the ability
to associate trust transactions to the Client as a whole, rather than to a specific matter.
If utilized, LAWS/Pro continues to maintain accurate Trust Balances by Matter, but also
maintains an accurate balance of funds deposited to the client, not allocated to any particular Matter.
LAWS/Pro automatically transfers available client allocations to specific matters as needed.
This Enhancement works as follows:
1) When recording Trust Receipts, a matter is no longer required. If a matter is entered, the trust deposit
applies to the entered matter only. If blank, the trust deposit is associated to the client, and will be allocated to the client's
matters as LAWS/Pro deems appropriate.
2) The LAWS/Pro Trust Ledger will detail all "non-allocated" Client
Trust activity followed by trust transactions allocated to specific Matters.
3) At the time of invoicing, LAWS/Pro will initially allocate
client trust retainer balances associated with the invoiced matter first, then automatically utilize any available "non-allocated" Client retainer balances.
4) Whenever Client allocations are utilized, LAWS/Pro
maintains an audit trail within the Trust Ledger which details the funds being transferred away from the Client into the specific matter.
5) If desired, Trust Checks may be drawn against the "non-allocated" Client Trust balance
by omitting a specific matter when generating the check. Use the disbursement "Description" field to accurately describe the transactions.
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