Tip of the Month: IOLTA Trust Functions

Written by Kristin O'Neill in Blog, What's New
May 17, 2016:

In Bill4Time Legal you have the ability to setup Trust Accounts to track retainers, disbursements, transfers and more.

Within Trust you can setup different Bank Accounts and track retainers on separate Projects. With both Deposits and Disbursements you are now able to set dates for when a check clears to track on both client Trust and within the Trust Account report. You can also attach images for future reference to pull on the report as well.

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If a check was voided you are able to track this in the deposits/disbursements with a date and description. When running your Trust Account report you will be able to show check numbers, descriptions, and check statuses for each transaction.

You can pull funds from trust to your operating account to deduct from outstanding totals. For an overview of Trust Accounting, click here for a quick tip: https://www.youtube.com/watch?v=6n8vVCA1K-0.

At Bill4Time, we offer the features you need…and most of all, the features you use. Easy to use, dependable and designed with you in mind—that’s Bill4Time. If you haven’t tried us, register for a free 30-day trial and see for yourself.

Written by Kristin O’Neill

Kristin O'Neill

Kristin is a subject matter expert (SME) of Bill4Time products. She manages a team of product specialists that help clients achieve success through streamlined processes for time tracking, invoicing and payments.

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