If your Org has the Ledger enabled, Users can record or request Transactions using the Records in the Financial Summary. The Ledger allows Users to record money coming into or going out of the Trust and Operating accounts on a Matter.
Requesting/Recording a Transaction
Transactions can have a type value of either debit or credit, according to the transaction type value assigned to the tab where the record appears (‘Requested’ or ‘Recorded’).
To create a Transaction, select the starting record from the Balance Summary > Click ‘New Transaction’ > Click ‘Request Transaction’ > Fill in the required information, based on the settings chosen for the Ledger Table during configuration > Adjust the amount, if needed (i.e. to record a partial payment) > Click ‘Request 1 Transaction.’ The new Transaction will then appear in the Ledger.
Users can also select multiple records to create new Transactions. Click the checkboxes beside each record > Click ‘New Transaction’ > Click ‘Request Transaction’ > Fill out the required fields > Click ‘Request [x] Transactions’
To remove a record from the form, click the caret to the right of the record > Click ‘Remove’
If the selected records have the same Payor/Payee, and your org has ‘Group Transactions’ enabled in the Ledger settings, they will be grouped automatically. A grouped Transaction takes multiple records and creates one parent Transaction, where the amounts for each record are added to the parent.
To ungroup the records, click the caret on the right > Click ‘Separate All’
To separate a single record, click the checkbox beside it > Click the caret on the right > Click ‘Separate From Group’
Transactions can also be used to request transfers between the Trust and Operating accounts. This is helpful for internal expenses, such as making payments out of Operating prior to having money in the Trust. Transfers are different from regular Transactions. If they occur in the Financial Summary, they are recorded in the Ledger as a normal Transaction. If a transfer occurs from within the Ledger, you’re creating two transactions and moving money from one account to the other. See this article for how to request a transfer from the Ledger.
Select a record > Click ‘New Transaction’ > Click ‘Request Transfer’ > Select the ‘From Account’ (where the funds are coming from) and the ‘To Account’ (where the funds are going) > Click ‘Request 1 Transactions’