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 firstname.lastname@example.org if you need help. We are happy to provide you the new updates to allow you to quickly allocate funds to invoices.