Question:

• When I Record a Trust Transaction how does it get inputted into QuickBooks Online?

Environment:

• Clio Manage
• QuickBooks Online

Additional Information:

• How Can I Sync Trust Accounting with Quickbooks Online?
• When my Trust Account Syncs to QuickBooks Online, What are the Debits and Credits?
• Why Do My Trust Account Transactions Sync into Two Accounts in Quickbooks Online?

Answer:

This is how Trust Transactions within Clio are recorded in QuickBooks Online:

 

Trust Deposits:

Trust Account - Deposit as Journal Entry

Trust Liability - Increase as Journal Entry

 

Trust Disbursements:

Trust Account - Payment as Journal Entry

Trust Liability - Decrease as Journal Entry

 

Disbursement Check Printing:

Trust Account - Payment as Check

Trust Liability - Decrease as Check

 

Trust Transfer to Operating:

Trust Account - Payment as Journal Entry

Trust Liability - Decrease as Journal Entry

 

Trust Transfer From Matter Balance to Client Balance / Client Balance to Matter Balance:

Trust Account - Deposit then Payment as Journal Entry

Trust Liability - Increase then Decrease as Journal Entry