Whether paying an expense directly from a client's trust account or releasing settlement funds to a Client, your firm will likely need to write non-invoice transactions.
Note: This currently has to be done in QuickBooks Online. Make sure that you have access to the firm's account before continuing.
Step 1: Start by creating a Check in QBO
ProTip: If you're paying reimbursable expenses directly from the trust, don't! Save yourself time and enter them in LeanLaw; that way when the invoice is out through trust, your expense is automatically included in that 👍
Step 2: Fill out the check as instructed below
- Cite who the check is being paid to. This would be the vendor when paying an expense, or the Client when releasing settlement funds.
- Set the IOLTA/Trust bank account. If your firm has multiple trust accounts make sure to select the correct one.
- Select the liability account for the Category. Remember, if your Client is set up for Matter-accounting you'll need to select the specific Matter's sub-account.
- Set the Description and Amount.
That's it, you're set! 🎉
Remember that these steps are the same any time you want to remove funds from Trust. Whether a disbursement, lien, or payment to a 3rd party!