This video will walk through how to manage Trust, including how to navigate the Trust Transaction Workspace
Managing Trust Transactions in Practice Pro
This article provides an overview of the Trust Transactions workspace in Practice Pro, including how to navigate the interface, add transactions, transfer funds between matters, and void transactions when necessary.
Accessing the Trust Transactions Workspace
To view all trust activity across your firm:
Navigate to the left sidebar.
Click Trust Transactions.
At the top of the page, you’ll see four tabs:
Ledger – Manage and review all trust-related activity
Client Balances – View trust balances and trends by client
Reconcile – Perform and review trust reconciliations
History – Access a complete audit trail of trust transactions
Using the Ledger Tab
The Ledger tab is the primary workspace for managing trust transactions.
Key Features
Summary Panel: Displays a snapshot of overall trust activity. This updates dynamically based on applied filters.
Actions Available:
Add New Transaction – Create a trust receipt or disbursement
Import from CSV – Upload transactions in bulk
Transfer Funds to Another Matter – Reallocate trust funds
Export Trust Transactions – Download data for reporting or audits
Searching and Filtering
To locate specific transactions:
Use the search bar to enter:
Trust number
Client name or number
Matter name or number
Vendor invoice number
Reference number or description
Click All Filters to refine results with advanced filtering options.
Transaction List
Below the filters is the transaction ledger:
Each row represents an individual transaction.
In the Actions column, you can:
Add attachments
Edit transactions
Void transactions
View transaction history
Viewing Client Balances
The Client Balances tab provides a high-level overview of trust activity by client.
Features
Visual charts showing:
Clients with the highest trust balances
Trends in deposits and withdrawals
A searchable list displaying:
Number of deposits
Number of withdrawals
Current trust balance
This view helps you understand how trust funds are distributed across your clients.
Reconciling Trust Accounts
The Reconcile tab allows you to manage trust account reconciliations.
From this tab, you can:
Start a new reconciliation
View a list of past reconciliations
Reviewing Transaction History
The History tab provides a complete audit trail of all trust transactions, ensuring transparency and traceability.
Adding a New Trust Transaction
You can create a trust transaction in several ways:
From the Ledger tab
From a Client record
From a Matter record
Steps to Add a Transaction
Click Add New Transaction.
Complete the transaction form:
Description
Tags (if applicable)
Deposit or withdrawal date
Amount
Transaction type (deposit or withdrawal)
Payment method
Reference number (if applicable)
Payer
Asset account
Liability account (auto-populated based on general ledger mapping)
Upload supporting documents by selecting Attach from Computer.
Click Save.
You will be prompted to review and confirm the transaction details.
Important: Trust transactions are immutable. Once created, they cannot be deleted. Confirm all details carefully before proceeding.
Click Yes, Create Trust Transaction to finalize.
The transaction will appear in the ledger, and balances will update accordingly.
Adding Transactions from Client or Matter Records
From a Client
Go to the Contacts list.
Apply the filter Client = Yes.
Select a client to open their details page.
Click the Trust Transactions tab.
Select Add New Transaction.
From a Matter
Go to the Matters list.
Select a matter to open its details page.
Click the Trust Transactions tab.
Select Add New Transaction.
Note:
If accessed from a client, the client field is auto-filled.
If accessed from a matter, both the client and matter fields are pre-filled.
Transferring Trust Funds Between Matters
To reallocate funds from one matter to another:
Navigate to Trust Transactions.
Click Transfer Funds to Another Matter.
In the pop-up window:
Select the source matter
Select the destination matter
Adjust the amount if needed
Click Transfer.
Confirm by selecting Yes, Transfer to Selected Matter.
This moves the available trust balance to the new matter.
Voiding Trust Transactions
If a transaction was entered incorrectly, you can void it:
Steps to Void a Transaction
Locate the transaction in the ledger (or client/matter view).
Click the three dots in the Actions column.
Select Void.
Confirm by clicking Yes, Void Trust Transaction.
What Happens When You Void a Transaction
The original transaction remains visible but is labeled Voided.
A new entry is created indicating the void action.
This entry includes a reference to the original transaction number.
This ensures a clear and auditable record of all changes.
Summary
The Trust Transactions workspace in Practice Pro provides robust tools to manage trust activity with accuracy and transparency. By using the ledger, filters, and transaction tools, you can efficiently track, update, and audit trust funds across your firm.