We've said it before - Trust Account management in Clio is easy! For specific guidance on managing your Trust funds in Clio, please view this article.
If you follow these steps appropriately, the pooled Trust account will have an aggregate balance and all funds will be linked to the Client or Matter. You can then use Clio’s Trust Ledger and Trust Listing reports to give you a snapshot of current Trust transactions and balances. Users are able to report on a per-Client and per-Matter basis the total of the client’s funds being held in the pooled account:
By using the QuickBooks Online Trust Sync, trust accounting with Clio is simple. Entering a movement of trust funds in Clio will automatically create a corresponding entry in QuickBooks Online. This includes:
- Manual additions or subtractions of trust funds
- Matter to Matter transfers of trust funds
- Payments made to Trust Requests
- Payments on Revenue Bills from a trust account
- Edits to any of these transactions
For details, see the "Setting up your QuickBooks Online Integration" article.