Comprehensive Guide: Bank Accounts and Transactions

Video: Accounts

• Next topic: Adding a Bank Account

Adding a Bank Account

Before you can receive payments in Clio, you must create an operating account. 

Before you can create trust transactions or use the Trust Request feature, you must create a trust account. 

To add an account, go to the "Accounts" tab and click "New".

In the "Create New Bank Account" form, select the appropriate account type: Operating or Trust.

Of the remaining fields, only the "Account Name" is required. All other fields are optional.

This account in Clio is meant to mirror your bank account but will not be linked to your actual bank account.

For more information about creating and managing bank accounts in Clio, see the "Managing Accounts" article.  

• Next topic: Adding Trust Transactions

Adding Trust Transactions

Trust transactions can be added at either the client level or the Matter level.

Client Level Funds
Trust funds associated with a client can be used to pay bills for any of that client's Matters.

Matter Level Funds
Trust funds associated with a particular Matter can only be used to pay bills for that specific Matter. 

To add a transaction on the client, navigate to the appropriate Contact card. To add a transaction to a Matter, navigate to that Matter's details screen.

From either a Contact card or Matter:

1. Click the "Transactions" sub-tab
2. Select the appropriate account
3. Click "New transaction"

In the "New Transaction" form, all fields are optional. At minimum, we suggest that you complete the following fields. 

1. Amount
   The amount of the transaction.
   • Enter in a positive amount to represent amounts received.
   • Enter a negative amount to represent amounts disbursed or returned to the client. (i.e. -5000) 
2. Date
   The date that the transaction took place in your bank account.
3. Source/Recipient
   Enter details about where the funds were received from or disbursed to.

   Source/Recipient is reportable in the "Client Ledger", "Trust Ledger" and "Bank Account Activity" reports.

4. Type
   The type of payment (i.e. cash, check, money transfer, credit card, etc.).
5. Description
   Enter in the reason for the transaction (i.e. prepayment or retainer details, disbursement or refund details)

   Transaction Description is reportable in the "Client Ledger", "Trust Ledger" and "Bank Account Activity" reports.

6. Check or Reference
   Enter a check number, confirmation number, or payment reference number that may be useful when consolidating with your bank statements.  

   Reference number is reportable in the "Client Ledger" and "Trust Ledger" reports.

Click the "Record Transaction" button to complete the transaction record. 

You will now be able to view the transaction in your Matter, and/or client ledgers and be able to pay your client's bills with the available funds in trust.

Paying bills with client funds in trust is covered in the "Billing Workflow" chapter of this guide.

For more information about creating and managing trust transactions in Clio, see the "Managing Account Transactions - Retainers, Deposits, or Pre-Payments" article. 

Next Chapter topic: Bill Settings, Bill Themes, & Payment Profiles