Updates to Trust Accounting Deployed

Great news.  Per our prior post, TimeSolv Engineering has deployed the following updates to increase usability of Trust Accounting.

  • A convenient option to know how much needs to be transferred to the operating account
    • An Allocate link has been added next to the balances in trust account.  Allocate link only shows up if there are invoices to be paid from available funds in a trust account.  Please note that previously users had to transfer and allocate one payment at a time and not the total balance in trust.  Allocate is same as moving funds from trust account to operating account.
  • Easy to see balances available by client
    • Two options are now added:  1- “Balances Only” to quickly Allocate funds from trust account to invoices.  2- “Grouped by Client” to see transactions by client with their Balances.
  • Not allow for negative balances
    • Any transactions that cause the balance to go negative when fund are transferred out of the trust account are not allowed.
  • View trust transactions in Client Transaction Log report
    • An option to include trust transactions is added on client transaction report.

What’s coming next

  • An option to just see Allocateable payments.

Please contact TimeSolv support at support@timesolv.com if you need help.  We are happy to provide you the new updates to allow you to quickly allocate funds to invoices.