Trust Account Starting Balance

Modified on Sat, 04 Nov 2023 at 12:06 PM

Starting balance is the money in a trust account that belongs to the attorney or the firm. In some jurisdictions, it is permissible to use your own funds (small amount such as $50) to cover bank charges (if your jurisdiction does not allow putting your own funds, please use 0 as starting balance). If an existing trust account with the bank that your are replicating in CaseFox already has client funds, please DO NOT use the entire amount as "Starting Balance." If you do this, CaseFox will not know which client or clients this money belongs to. Therefore, after creating a new trust account in CaseFox (using either 0 starting balance or starting balance that reflect your own money), then use "Add Funds" option to add funds to the newly created account. The Add Funds option will require you to select a client for whom you are adding these funds. Subsequently, CaseFox will monitor funds of each clients and will not allow overdrawing funds for any client. You will not be able to withdraw from starting balance against any client. However, you can withdraw for "Self" from starting balance. 
To Withdraw against starting balance, in the client dropdown list, select [Self-Attorney/Firm]. Similarly, to deposit your own money to a trust account, select [Self-Attorney/Firm] in the client dropdown list.
Recording Payments Against Trust Funds: If an invoice shows a "To Be Paid From Trust Funds" amount (if such setting is enabled via Settings/Tools/Reports->Invoice/General Settings), please visit Invoices tab and click on the green dollar sign in front of the invoice and enter this amount (in the description, you may add "paid from trust funds"). Then go to "Trust Funds" tab for the selected client and click on "Withdraw" to withdraw the amount as indicated on the invoice. In the description, you may mention the invoice number. 
Alternatively, on the same payment screen, you may select "Pay From Trust Funds" and select a trust account from which you wish to pay the invoice. Enter the amount to be paid. The system will automatically create a payment entry and a withdrawal from the selected trust account. The system will also display the client's balance in the selected trust account and ensure that you don't overdraw funds.

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