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Why do I see a lot of Trust transactions for April 13, 2015?

Objective:

  • Why do I see a lot of Trust transactions for April 13, 2015?
  • There are transactions in my ledgers on 4/13/15 that don’t make sense

Environment:

  • Clio Web App

Additional Information:

n/a

Answer:

Prior to 4/13/2015 customers who deposited Trust funds at a Client level, could end up with negative Matter Trust balances.

Using a $100 deposit in the Trust Account and linked to the Client as an example, this would show as $100 being available. When this was applied to a Bill, the reduction of funds out of the Trust Account would be linked to the Matter. So to continue the example, if a $50 bill was paid from Trust, this would create a -$50 entry linked to the Matter. As a result, reports would show a Client balance of $50 remaining, but the Matter level would show as -$50.

On 4/13/2015 we deployed a fix that will add a step in between these, which transfers the funds from Client level to Matter level. This is only for the amount of the Bill payment.

On the same date, in recognition that previous entered data would remain incorrect, we added these transfers on accounts which had been using Client level Trust deposits, and encountered the issue as a result.

 

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