LeanLaw

This will guide you through the process of recording trust deposits in LeanLaw. Watch the video or follow the step-by-step instructions to manage your trust accounting effectively.

1. Locate and click on the “plus” sign or “quick create” button in LeanLaw. 

1. Choose the “Deposit to Trust” option. 

1. If you’re set up for matter-based accounting, select the client for whom you’re making the trust deposit. The matter will automatically populate if the client only has one matter. If the client has multiple matters choose the correct one from the drop down. 
2. For client-based accounting, only the client will populate. 

1. Enter the amount of the trust deposit. 

1. Include important details in the deposit: 
   1. Source of funds (e.g., “Client personal funds”). 
   2. Check number (if applicable). 
   3. Purpose of the retainer (e.g., “Retainer for legal services”). 
   4. Additional details are encouraged for audit purposes. 

1. After filling out all necessary information (client, matter, amount, details), click the “Record Deposit” button to save the trust deposit entry. 

1. Check the trust account summary in LeanLaw. You’ll see the updated trust balance reflecting the deposited amount. 

1. LeanLaw will automatically create sub-liabilities under “Funds Held in Trust” in QuickBooks, ensuring three-way reconciliation. 
2. Confirm that the trust account in QuickBooks shows the deposited amount, matching the total liability in “Funds Held in Trust.” 

1. Keep an eye on trust account activity within LeanLaw. You can access transaction reports to view all trust-related activities. 

1. Continuously monitor and manage trust deposits, ensuring that trust account, liability, and sub-liability balances remain in balance. 

1. Access LeanLaw: 
   1. Log in to your LeanLaw account. 
2. Access the Quick Create Button: 
   1. Locate and click on the “plus” sign or “quick create” button in LeanLaw. 
3. Create a Trust Deposit: 
   1. Choose the “Deposit to Trust” option. 
4. Select Client and Matter: 
   1. If you’re set up for matter-based accounting, select the client for whom you’re making the trust deposit. The matter will automatically populate if the client only has one matter. If the client has multiple matters choose the correct one from the drop down. 
   2. For client-based accounting, only the client will populate. 
5. Specify Deposit Amount: 
   1. Enter the amount of the trust deposit. 
6. Provide Deposit Details: 
   1. Include important details in the deposit: 
      1. Source of funds (e.g., “Client personal funds”). 
      2. Check number (if applicable). 
      3. Purpose of the retainer (e.g., “Retainer for legal services”). 
      4. Additional details are encouraged for audit purposes. 
7. Record the Deposit: 
   1. After filling out all necessary information (client, matter, amount, details), click the “Record Deposit” button to save the trust deposit entry. 
8. Review Trust Account Summary: 
   1. Check the trust account summary in LeanLaw. You’ll see the updated trust balance reflecting the deposited amount. 
9. Check Trust Accounting in QuickBooks: 
   1. LeanLaw will automatically create sub-liabilities under “Funds Held in Trust” in QuickBooks, ensuring three-way reconciliation. 
   2. Confirm that the trust account in QuickBooks shows the deposited amount, matching the total liability in “Funds Held in Trust.” 
10. Monitor Trust Account Activity: 
    1. Keep an eye on trust account activity within LeanLaw. You can access transaction reports to view all trust-related activities. 
11. Maintain Trust Balance: 
    1. Continuously monitor and manage trust deposits, ensuring that trust account, liability, and sub-liability balances remain in balance. 

By following these steps, you can effectively create a trust deposit in LeanLaw while maintaining the accuracy and integrity of your trust accounting records.

Step-by-Step Instructions