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Switch Your Trust Bank & Transfer Your Balance

When you switch trust banks, you also transfer funds from the old account to the new at the matter level with a Matter to Matter Internal Trust Fund Transfer.

Switch Your Trust Bank

To switch your trust bank:

  1. Add your new trust account.
  2. From the left navigation panel, click Matters.
    The Matters screen opens, displaying a toolbar atop the screen.
  3. Single-click the matter to highlight it.
  4. From the toolbar, click Edit.
    The Edit Matter screen opens.
  5. In the Trust Bank field, click Add New Bank.
    A drop down displays.
  6. From the drop down, click your new trust bank.
  7. To the right of the Trust Bank field is the Default Trust Bank field. From its drop down, click your new trust account. 
  8. In the upper right corner, click Save.
    Your matter updates with your new default trust account.
  9. Repeat steps 2 – 9 for your remaining impacted matters.

Transfer the Account Balance

To transfer the balance from your old trust to your new:

  1. From the left navigation panel, click Matters.
    The Matters screen opens, displaying a toolbar atop the screen.
  2. Single-click the matter to highlight it.
  3. From the toolbar, click Action > Matter to Matter Trust Funds Transfer.
    The Matter to Matter Transfer screen opens.
  4. In the lower right corner, click Next.
  5. In the Amount field, enter the amount of the transfer in dollars and cents.
  6. In the Trust Fund From section’s Matter field, confirm you have selected the correct matter.
  7. From the Trust Bank field’s drop down, click the trust bank funds from which you want to transfer funds.
  8. In the Trust Fund To section’s Matter field, start entering the client or matter name. then click the appropriate matter.
  9. In the lower right corner, click Next.
    The Additional Information screen opens.
  10. From the On field’s drop down, click the transfer date.
  11. In the Type field, confirm the type is accurate, or use the drop down to click the appropriate type.
  12. From the Method field’s drop down, click the appropriate method.
  13. Enter a Ref#, if desired.
  14. In the Payee field, confirm the payee info.
  15. In the Memo field, confirm the transaction’s accuracy for internal record-keeping purposes.
  16. In the lower right corner, click Next.
    A new screen opens, displaying your transaction summary.
  17. Review the transaction summary’s accuracy.
  18. In the lower right corner, click Complete Transfer.
    The transfer processes, updating the impact matters.

Review Your Trust Transfer Record Report

When transferring multiple matters’ balances to another trust account, we recommend you run and review the Trust Transfer Record Report to confirm your recorded transfer amounts. 

Reconcile and Close The Old Account

Once the transfer is complete and you have reviewed the Trust Transfer Record Report, you will want to:

Updated on August 24, 2020

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