LAWS/Pro New Option to Post Trust Funds to a Client
LAWS/Pro 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.
When this feature is 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:
- 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.
- The LAWS/Pro Trust Ledger will detail all "non-allocated" Client Trust activity followed
by trust transactions allocated to specific Matters.
- 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.
- 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.
- 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.