Managing Trust Accounts

In Centerbase, trust accounts are managed at the matter level. Every new matter opened in Centerbase has a default trust account created automatically. The default trust account information is pulled from your accounting system settings, but can be changed at the individual matter level.

Centerbase also gives you the option to have multiple trust accounts for one matter. This can be useful if you are holding settlement funds or escrow and want to make sure those funds are not used for bill payments.

To learn more about creating and managing matter trust accounts, watch the video and follow the step-by-step guide below.

Trust Account Management Guide

Step 1: Click the gear icon and select Trust and Retainers.

Step 2: Click on the account name to view or edit the details of an existing account.

Step 4: Confirm or change the trust bank account. This is the bank account the matter trust account is associated with. The trust bank account will default to the account selected in your accounting system settings.

Step 5: Confirm or change the trust liability account. This is the liability account the matter trust account is associated with.The trust liability account will default to the account selected in your accounting system settings.

Step 6: Decide whether to show this account on the client bill, or make this the default trust account for this matter.

Step 7: Decide whether to make this account a retainer account.

Step 8: If applicable, enter the Replenishment Level and Minimum Balance.

Step 9: Save when finished.

Adding Additional Trust Accounts

Additional trust accounts for a matter can also be created from the Trust Account Settings page.

Step 1: Click the blue Add button. 

Step 2: Configure the trust account settings using the steps explained above.

For more information about trust account management in Centerbase, check out this support article.