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MK Vande
Level 3

Attorney Trust Account - Multiple Client Deposits

I just started using QBO instead of desktop for the trust accounts. 

I created trust liability sub account for each client.

 

Doing a deposit I use a sales receipt for each clients payments into their trust liability account.

 

My problem is that I do lots of payments for different clients.  So if each payment looks likes a single deposit.  This is going to stress me out when I go to reconcile and they are all together.  Any other ideas? 

2 Comments 2
AileneA
QuickBooks Team

Attorney Trust Account - Multiple Client Deposits

Hello, MK Vande.

 

When you deposit money at the bank, you often deposit multiple payments from sources all at once. The bank usually records everything as a single record with one total. If you enter the same payments as individual records in QuickBooks, they won’t match the way your bank recorded the deposit. 

 

In these cases, QuickBooks has a special way for you to combine transactions so your records match your real-life bank deposit. Put transactions you need to combine into your Undeposited Funds account. Then use the bank deposit feature to combine them. Here’s how to record bank deposits in QuickBooks Online. 

 

Combine transactions in QuickBooks with a bank deposit. Each bank deposit creates a separate record in QuickBooks. Make deposits one at a time for each of your deposit slips.

  1. Select + New.
  2. Tap Bank Deposit.
  3. From the Account ▼ dropdown, choose the account you want to put the money into.
  4. Click the checkbox for each transaction you want to combine.
  5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  6. Press Save and Close

Here's where you can learn more about recording bank deposit in QuickBooks Online: How to Record Bank Deposits in QuickBooks Online

 

Always feel free to visit us here in the Community if you have other questions. I'm just a few posts away. Stay safe!

MK Vande
Level 3

Attorney Trust Account - Multiple Client Deposits

That is what I do when depositing into the office account. 

 

However in an attorney trust account all the money goes into a client liability account as a sub account of the Trust Liability account.  In QBO different accounts, in real life one bank account. 

 

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