Introducing The Law Community, the online community just for Clio customers. Sign up now.

How are Trust Transactions Displayed in Quickbooks Online?

Question:

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

Environment:

  • Clio Manage

Additional Information:

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 - Increate then Decrease as Journal Entry

 

Was this article helpful?
This information is confusing or wrong
This isn't the information that I was looking for
I don't like this functionality