If your firm has Enhanced Client Funds Accounting enabled you will have access to a set of reports that provide information about your client funds and accounts needed to comply with legislative requirements. These reports include information about changes made to contacts, matters, and bank accounts, client account balances per client, transactions and other information related to client funds, deposits made, and transfers between operating, client, and deposit accounts.
File maintenance report
The file maintenance report shows any changes made to contacts, matters, and bank accounts, including client accounts. You can use this report as part of your firm's audit.
- Date & Time
This column shows the date and time of the change made.
- Related to
This column shows information about the matter, contact, or account to which the change was made type and is gathered from the Source/Recipient field from when you are recording a new transaction.
- Action
This column shows the type of change that was made (Created, Deleted, Updated).
- Value Before
This column shows the information prior to the change.
- Value After
This column shows the information after to the change.
Client trial balance report
The client trial balance report shows all client account balances in your firm's client account. It is recommended that you generate this report before month-end reconciliation to verify that your account is balanced before starting the reconciliation.
Client cashbook report
The client cashbook report shows either all funds in or all funds out transactions for a client account, excluding any transfers, over a period of time.
Client account journal report
The client account journal report shows journal transfers between accounts and between client and matter balances over a period of time.
Client account ledger report
The client account ledger report shows a detailed view of client and matter transactions (payments, disbursements, and transfers), including payments, disbursements, and transfers, and balances across all client accounts. It also includes a summarised view of the account balances at the bottom of the report. This report is often submitted to regulators as part of legislative requirements that apply to your firm.
- Date
This column shows the date that the transaction occurred in the account. Transactions include deposits, withdrawals, and transfers. Multiple transactions that occur on the same day will appear in random order.
- Source/Recipient
This column shows the payment type and is gathered from the Source/Recipient field from when you are recording a new transaction.
- Reference
This column shows data entered in the Reference field from when you recorded a new transaction.
- Matter
This column shows the matter that is linked to the transaction.
- Matter description
This column shows the information entered in the Description field of a matter.
- Record/Payment Type
This column shows the type of transaction (e.g., EFT, cash receipt, etc.).
- Payments
This column lists withdrawals or payments from the account.
- Receipts
This column lists payments deposited into the account.
- Balance
This column shows the amount of money left in the account after each listed transaction.
- Closing balance
This line item lists the closing balance of the Funds out, Funds in, and Balance.
- Client total
This line item lists the total balance of the Funds out, Funds in, and Balance for all of the client's matters. If you have transactions across multiple operating and trust fund accounts, you may see different balances.
- Balance summary
This section will appear at the bottom of the report if you selected the option for Display bank account summary before running the report. This section shows the current balance of your accounts. If you sort results by a specific date range, this section will show an opening balance that summarizes the transactions prior to the selected date range and a closing balance that summarizes the account balance at the end of the date range.
Client overdrawn report
The client overdrawn report shows transactions that resulted in overdrawn client balances over a period of time.
Client dormant balances report
The client dormant balances report shows funds held in any client account where the balance has not changed for a set number of months (3, 6, or 12).
Client funds account statement report
The client funds account statement report shows all receipts and payments for a client account ledger over a period of time on a per matter basis.
Deposit accounts listing report
The deposit accounts listing report shows a list of all deposit accounts and the totals deposited over the selected period of time.
Full matter ledger report
A listing that shows all transactions between operating, client account, and deposit accounts for a matter up to a specified point in time.
Potential client funds to office report
A report identifying which invoices can be paid from client funds for each client account.