We understand that some firms are reviewing/correcting data as they go, or perhaps have only a handful of balances to enter, and would prefer to make manual entries. The instructions to do so are listed below.
If, in your case, you have a larger amount a data and would like the option to upload your data in bulk, we have bulk import tools and instructions listed in our migration guide. Following those instructions is the most efficient way to import your ledger balances so we encourage that you review that first.
Entering Trust Balances
Use the same cutoff date as billing (ex: 5/31)
Ensure prior month is fully reconciled.
From old system pull a trust ledger report telling you the cleared trust balance for each matter as of that cutoff date
The next steps must be followed for each matter that has a balance:
- Add a trust transaction for balance
- Select matter
- Click trust transaction
- Date: Cutoff Date
- Type: Adjustment In
- Method: Internal Operation
- Amount: Cleared Balance
- Memo: Ledger Balance
Any uncleared transactions must be entered under their respective matters as well. That way they will be picked up in the next month’s reconciliation.
After doing so, each balance should then match the ‘book’ balance from your previous records.