Getting Started with Trust Accounting

BA Icon  Getting Started with Trust Accounting

 

 

The following information will assist you through the general process of getting your trust accounts set up as well as taking receipts and writing checks. Clicking on each section heading below will take you detailed instructions on each topic.

 

1. Create Clients and Matters

Before any trust receipts or checks can be entered in Brief Accounting, a matter must be created to facilitate this. Each Matter must belong to a Client. Clients may have just a single matter associated with them, or they may have multiple matters.

 

2. Assign a Trust Account to a Matter

Once a matter has been created, it is necessary to assign a Trust Account to the matter.

If you only have one trust account, that account will be assigned by default to the matter the first time you try to post a trust check or receipt.

Note that once a trust receipt has been taken or trust check written in a matter, that the trust account cannot be changed for that matter. Your initial Brief Accounting installation should have your trust account(s) set up, but if not, you will need to create a new trust account.

 

3. Enter a Trust Receipt

When funds are received in trust from a client, it is necessary to take a trust receipt into the matter.

 

4. Write a Trust Check

A trust check can only be written if there is balance in the trust account to cover the amount of the check. Brief Accounting will not allow you to overdraft a client's trust account.

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