This article will guide you through transferring Trust Funds between Matters. Funds remain in the CARET Legal's Trust bank account; no bank movement occurs. Only the matter allocation changes
Example client scenario:
“Client originally paid a $1,000 retainer for Matter A. The case expands into Matter B and you want to allocate $200 to the new matter.”
00:03: In this video, you will learn the sequential steps to accurately transfer trust funds between matters. It should be noted that this option is specific to trust transfers and not operating retainers.
00:14: Click the Accounting icon to access the trust transfer feature.
00:18: Click the "+" button to start creating a new trust transfer.
00:22: Click transfer, trust /, retainer new to specify the type of transfer. You want to perform
00:28: Click "-Type or Select-" to choose the Primary Client for the trust transfer.
00:33: Click "-Type or Select-" to select the specific source matter for which the Trust funds are being moved from
00:40: Click here to open the source account selection menu. Click on the applicable source trust account.
00:46: Once selection is completed the Account Name and available balance will display.
00:51: Confirm the date of the transfer transaction
00:54: Click "-Type or Select-" to specify the destination trust account for the transfer.
00:59: Click transfer amount to enter the amount to be transferred.
01:03: Enter a description to clarify the purpose of the transfer.
01:07: This is a requirement of the transaction to ensure proper accounting of the transfer.
01:13: Click "Transfer" to complete the matter-to-matter trust transfer process. It should be noted that executing this trust transfer will only impact CARET Legal.
00:03: In this video, you will learn the sequential steps to accurately transfer trust funds between matters. It should be noted that this option is specific to trust transfers and not operating retainers.
00:14: Click the Accounting icon to access the trust transfer feature.
00:18: Click the "+" button to start creating a new trust transfer.
00:22: Click transfer, trust /, retainer new to specify the type of transfer. You want to perform
00:28: Click "-Type or Select-" to choose the Primary Client for the trust transfer.
00:33: Click "-Type or Select-" to select the specific source matter for which the Trust funds are being moved from
00:40: Click here to open the source account selection menu. Click on the applicable source trust account.
00:46: Once selection is completed the Account Name and available balance will display.
00:51: Confirm the date of the transfer transaction
00:54: Click "-Type or Select-" to specify the destination trust account for the transfer.
00:59: Click transfer amount to enter the amount to be transferred.
01:03: Enter a description to clarify the purpose of the transfer.
01:07: This is a requirement of the transaction to ensure proper accounting of the transfer.
01:13: Click "Transfer" to complete the matter-to-matter trust transfer process. It should be noted that executing this trust transfer will only impact CARET Legal.