Objective:
- Apply a Payment to a Bill from Trust Funds
- Reduce Trust balance
- Record Payment from Trust
- Pay Bill from Trust
- Bill Payment from retainer
- Transferring funds from retainer account
- How to Make a Payment from Trust
- Transfer Trust Funds to the Operating Account for Work Completed and Billed
- Record a payment from an Escrow account
- Do the funds get transferred to my real-life bank accounts automatically?
Environment:
- Clio Manage
Additional Information:
Please note that a Bill must be generated and approved prior to following the steps below.
Also, the option to choose Trust/Client Funds will only appear if funds have been added to those Accounts for the Client/Matter.
Trust/Client fund amounts recorded as payment on bills will automatically move to your Operating account.
Will Recording a Payment From Trust Move the Money in my Real-Life Bank Account?
Procedure:
- Open the Bill
- Select Record Payment
- Change the Source to Trust/Client (Matter) or Trust/Client (Client)
- Enter the amount you would like to pay in the Payment field
- Select Record Payment
Note: This method allows you to select a custom amount to record a payment from the trust to the bill.
OR
- Open the Bill
- Click More Actions
- Click Apply Trust/Client
- Select the Destination account
- Click Apply Trust/Client
Note: This method will not allow you to select a custom amount, it will try to use as much as possible to record a full payment from the trust to the bill. Depending on your bill and available trust funds you may exhaust the full trust or have something remaining.