Trust Transfers

Created by Allison Cloyd, Modified on Mon, 14 Nov 2022 at 01:00 AM by Allison Cloyd

In this article, we will explain how you can transfer trust funds. There are different circumstances for why you might want to transfer trust funds, these include transferring from a current trust account to an investment/IBD trust account and vice versa, transferring to another matter with the same trust client, and transferring to a different matter with a different trust client. 

 

Transfer funds (same trust client)

There are two ways to initiate a trust transfer for the same trust client. You would use this for example, where a client wants to transfer funds /to/from a trust investment account or a client has been given authority to move their trust funds from one matter to another. 

 

Main Menu - Trust Transfer

Go to Trust > Transfers > Transfer Funds

 

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Matter Menu

Go to the matter menu - click on the trust menu or hover and click on Transfer funds or select transfer funds under the trust matter menu on the right. 

 

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Processing a transfer

You will then be presented with a transfer screen as below, if you have selected to transfer funds from within the matter then the current matter will be populated in the first box. 

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You will need to enter where you are transferring the trust funds from and where they will be transferred to. 

When you have entered all the details hit Transfer to process the transaction. 

 

NOTE: As you are not transferring funds between clients you will only have the option to transfer funds to matters where the trust client is the same. 

 

TIP: You can upload a file to the transaction it is a good idea to upload the client authority or email where the client gave authority for the funds to be transferred this makes it very easy for an auditor to find supporting documentation for the transaction. 

 

Transfer funds (same trust client)

Main Menu - Trust Transfer

Go to Trust > Transfers > Transfer Funds Between Clients

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TIP: You can only transfer funds between different clients from the main menu. 

 

Processing a transfer

You will then be presented with a transfer screen as below.

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You will need to enter where you are transferring the trust funds from and where they will be transferred to - just like the option above however you can see all matters in the second box. It is not limited to matters with the same trust client. 

When you have entered all the details hit Transfer to process the transaction. 

 

TIP: You can upload a file to the transaction it is a good idea to upload the client authority or email where the client gave authority for the funds to be transferred this makes it very easy for an auditor to find supporting documentation for the transaction. 

 

Viewing Trust Transfers

To see a list of trust transfers go to Trust> Transfers > Transferred Funds List

 

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You will then see a list of all of the trust transfers you can use the filter to search for a specific transfer and you can also export, print or make a heads up. 

 

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