Recording a trust deposit in LeanLaw couldn't be easier. LeanLaw takes care of all the small, easy-to-forget steps for you! With the click of a button, your deposit is automatically tracked in your Trust and Liability accounts, without needing to open QuickBooks Online.
Note: If you haven't already set up Trust Accounting, check out a more detailed article here that will fill you in on Trust Accounting and Deposits.
Steps to Deposit Funds in Trust
1. Navigate to the Trust Account Page
Click on the Billing tab, then on the Trust Account tab:
2. Click the Deposit Funds button
Click on the Deposit Funds button so you can record the trust deposit:
3. Record the Deposit to the Trust Account
Select the Client/Matter and fill in the amount, the From line, and the use:
You can also click on the name of the Client to fill in a few of the details. If the Client already has a trust account set up in LeanLaw, they'll be accessible in the main Trust Account page. By clicking on a Client, their specific account information can be accessed. This displays previous transactions, includes buttons for deposits, payments, and reports:
4. ProTip: Create the deposit from Quick Create:
To quickly and easily create the deposit from Quick Create, click on the green + sign and select Deposit to Trust from the drop down menu:
5. Click Record Deposit
Once you have created your deposit and filled in the details, click Record Deposit. Your deposit will be saved and sent to QuickBooks Online.
"I have two trust deposits to make. These clients have previously trust balances. I'm trying to figure out how to record the increase trust deposits without jacking up quickbooks. Actually, one client is a new client wanting to make a retainer payment. The other has an existing trust balance. I don't know if I should record the trust deposit for the existing client before making the deposit. I know how to handle the new client, but the deposits will happen simultaneously."
You can record the deposit in LeanLaw before depositing the funds in to your bank.