I have a client that has money in our Client Iolta Trust Account and I want to apply it to a bill, but its not showing as being applied when I print the bill – how come?
Anyone who has dealt with Client Funds Trust Accounts knows the importance of thorough and accurate tracking. The Client Trust Accounts are very carefully tracked and regulated in the system. If the client has authorized the removal of Client Trust Funds, you need to first process a check for the amount of the bill. You can then deposit the check into your operating account as an advance deposit. When the bill is printed the amount of the advance deposit payment will display and deduct from the balance due. PowerLaw verifies Client Trust Balances prior to writing checks to ensure the funds are available.
Related Questions
- I have a client that has money in our Client Iolta Trust Account and I want to apply it to a bill, but its not showing as being applied when I print the bill - how come?
- Does maintaining my general client trust accounts as interest-bearing IOLTA accounts affect my trust account practices?
- What happens to the money in the trust account?
