KCS - How to Balance my Operating Accounts

Objective:

  • Balancing my account

Environment:

  • Clio Web App 

Additional Information:

  • Clio allows you to manage accounts receivable and client accounting, however it is not a full accounting package and is not designed to manage accounts payable. That said, you can record negative transactions in the account for reconciliation. Firms will typically disburse funds from the account on a monthly or quarterly basis. 

Procedure:

To open your Clio Operating Account, and withdraw funds in order to balance your account, complete the following steps: 

  1. Select Accounts
  2. Select the specific account you would like to withdraw funds from 
  3. Select New Transaction 
  4. Enter the amount you would like withdraw in the Amount field with a negative
  5. In the Description, include a note explaining the withdrawal
  6. Leave the Client and Matter fields blank 
  7. Select Record Transaction
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