Centerbase manages trust accounts on the matter level. This article will detail how to configure individual trust accounts.
Open Trust Account Settings on the Matter
- Navigate to the matter for which you'd like to configure the trust account.
- Click the gear located to the right of the Matter Actions button.
- Choose Trust and Retainers.
Configure the Trust Account
Each time a new matter is created Centerbase will automatically generate a single default trust account.
- You should now be on the Trust Settings page
- Hover over the trust account and single click.
- A listing of Trust Account Settings will display in a popup window.
- Name: Name of the trust account. This should be a unique name to easily associate it with the matter.
- Bank Account (Accounting Package Only): The IOLTA bank account the matter trust account is associated with.
- Liability Account (Accounting Package Only): The liability account the matter trust account is associated with.
- Show on Invoice: If checked, trust transactions for the matter's trust account will display on the bill, including replenishment requests and trust ledgers.
- Default Account: If checked, this will be account that Centerbase will use to automatically apply trust funds for the matter if the matter's default billing settings are set to auto apply from trust. There are also certain reports that will use the default trust account. This option will be greyed out if you only have a single matter trust account.
- Use Default Settings: If checked, the trust account will use the default trust account settings set up in matter or System Settings.
- Replenishment Level: If replenishments to trust will be required, the replenishment level that will be requested from the client once the trust account reaches or falls below the Minimum Balance.
- Minimum Balance: The trigger for requesting trust replenishment. If a trust account falls below the minimum balance, trust replenishment will be requested to bring the account up to the Replenishment Level.
Add Additional Trust Accounts
From the Trust Account Settings page, you can add additional trust accounts for a matter.
- Click on the Add button in the top right corner of the Trust Account Settings page.
- Configure the trust account's settings, including a unique name to differentiate between the matter's multiple trust accounts.