Within Accounting you will be able to keep track of all Payments, Invoices, Balance Adjustments (debits/credits) and Unbilled Activity. Within Trust Accounting you will be able to keep track of your Trust Retainers, Disbursements, and Transfers. This way, when you need to make a disbursement from the trust account to pay someone who is NOT from your company, it will not affect the company’s balance.
Articles in this section
- How do I setup my Trust Account?
- How to Add a Retainer
- What is Accounting Isolation?
- How do I add and apply a payment?
- 2018 Payment Workflow
- What IOLTA Trust functions are in Bill4Time?
- What are the different ways to credit or write down a bill?
- Do you have an overview of Accounting?
- Can I make Trust payments right from the Invoice batch?
- Why can’t I apply a lump payment to multiple Projects?