New Reconciliation Process Explained

In order to make managing your trust account easier, we have introduced a new reconciliation process. This new process simplifies the way transactions are created by removing the "Cleared Date" field. This field was an ongoing source of confusion as users were never entirely sure when an item had cleared. By implementing this change, we have resolved the issue with checks that were not being cashed. Going forward, transactions will not be debited or credited against your account until your account has been reconciled.

What does that mean to our current users?

Our users have become accustomed to their account balance being credited or debited as transactions are created. This change means that transactions will first need to be reconciled before your account balance is updated. To adapt to these changes, we recommend that before writing a check, you review the client's individual profile to ensure that the client has sufficient funds in their account to cover it.

How to Reconcile Your Account

Important: Your account will need to be reconciled at least once a month after your latest bank statement arrives.

1. Log in to your account.

2. On the top navigation menu, click on the "Accounts" tab.

3. Select " Reconcile Account " for the account you want to reconcile.

4. Enter the "Cleared Date" for all of the transactions appearing in your bank statement and click the green "Reconcile" button.

5. Review the information to ensure that your account balance in Account Legal and your bank statement match.