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Turn off Trust Safeguards

Introduction

CosmoLex comes with built-in trust safeguards to address compliance with every transaction you record. However, there are certain safeguards that we have made possible to turn off. If you have a special situation that requires you to turn off these safeguards, please follow the instructions in this article. However, we highly recommend that you read the full articleproceed with caution and speak with your accountant or a Certified CosmoLex Consultant if you have any questions. 

The safeguards discussed in this article are:

  • Allowing negative amounts in your Matter Trust Ledgers. Here’s an example of the warning received for negative amounts:

  • Allowing duplicate check numbers in your Trust Account. Here’s an example of the warning received for duplicate check numbers:

Important

We do not recommend that you leave these settings on.  If you turn on these options, be aware that the program will no longer produce the corresponding warnings as shown above. We highly recommend changing this setting back once the required transactions are complete.

How to Turn Safeguards OFF

1. Click the Accounting Tab

2. From the Bank Tab, select desired Trust bank account and click  Edit. (You can also do this while adding a new Trust Bank)

3. In the Edit (or Add) Bank screen, and under “Advanced Settings,” click the checkbox for the setting(s) you with to turn on. Turning these setting(s) on will turn the safeguard(s) off. 

4. When ready, click Save.

Updated on August 23, 2018

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