Ideal Online Documentation

14381 T/T PROCESSING
TT2-01 Trust Transaction Entry

 

PURPOSE

 

The trust transaction entry program allows you to enter transactions for your various trust transaction bank accounts. All entries are done in batches and each entry in a batch is assigned a unique sequence number. After entering transactions you should do a register print to check for accuracy and then an update.

 

Data that must be entered is client/matter number, transaction date, bank account code (which includes bank code, account type and currency type, usually Canadian or US), transaction code, reference or cheque number, and the amount. Corresponding G/L asset and liability accounts will be debitted and credited automatically by the appropriate amounts.

Should the transaction amount result in creating a negative balance in an account the system will display an alert message.

 

If a bank code is used that allows cheques to be written and the transaction code being used has been set up to allow cheques, then the reference number will be used as the cheque number and will be updated to the cheque reconciliation file. To omit this update, precede the reference number with the "*" character.

 

Trust Transaction Entry is accessed from:

  • Trust Accounting menu.

PROCEDURE - BATCH CREATION/ACCESS

 

Select Trust Transaction Entry from the Trust Accounting menu.

 

You are taken to the batch selection screen where you may create a new batch or select an existing batch for further processing. Batches are not terminal dependent. To select an existing batch for further processing see PROCEDURE - ACCESS AN EXISTING BATCH. Additional batches can be created whether or not previous batches have been updated. To update or abort a batch see PROCEDURE - REGISTER PRINTING AND UPDATE. If there are existing batches the first will be displayed and you have the options of processing the displayed batch, accessing another batch or creating a new batch.

 

If you are creating a new batch, press [Enter] at the batch selection screen. This clears the display of any existing batches and assigns the next sequential batch number.

 

BATCH SELECTION SCREEN

┌────────────────────────────────────────────────────────────────────────────────┐
│01/02/07 Tm6     ***** TERMINAL INDEPENDENT BATCH SELECTION *****        3TPAI1 â”‚
│                                                                                â”‚
│                                                                                â”‚
│          COMPANY:                                                              â”‚
│          BATCH NUMBER:                                                         â”‚
│                                                                                â”‚
│          G/L DATE:                                                             â”‚
│          CONTROL TOTAL:                                                        â”‚
│          BATCH DESCRIPTION:                                                    â”‚
│                                                                                â”‚
│                                                                                â”‚
│** SPECIFY BATCH (CR=NEW BATCH; F4=END):  ____                                  â”‚
│PRESS CR FOR NULL, F5 FOR INQUIRIES, F2 FOR NULL, F3 TO BACK UP.                â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘
COMPANY

 

Displays the company you are working in.

 

BATCH NUMBER

 

Defaults to the next available batch number, no input required.

 

G/L DATE

 

Enter a G/L date for the batch.

 

[Enter] for the current system date.

 

Many programs use the dates of the individual entries in the batch as the date the G/L is affected by the entries. For those programs, the batch G/L date indicates the date of batch creation. Some programs use the batch G/L date as the date the G/L is affected by ALL entries in the batch. The effective date is noted in PROCEDURE - DATA ENTRY.

 

 

CONTROL TOTAL

 

Enter the dollar total of the adjustments to be posted.

 

[Enter] to bypass.

 

Generally, a control total is optional. However, some programs require a control total. In either case a control total serves as a handy check-sum against the total entries in a batch and should be entered. Simply add up the total of the transactions to be made in the batch and enter that as your control total.

 

 

BATCH DESCRIPTION

 

Enter a description to identify the batch.

 

[Enter] to bypass.

 

You can enter up to 30 characters.

 

 

When you have completed the batch header fields the following prompt is displayed:

 

** PRESS ENTER TO CONTINUE; F3 TO RE-ENTER; F4 TO END:

 

[Enter] to continue to data entry.

 

[F3] to return to the previous field.

 

[F4] to exit to menu.

 

The information entered is discarded, not batch is created and the batch number remains available for use.

 

 

 

PROCEDURE - DATA ENTRY

 

After you create a new batch you are taken to the data entry screen.

 

TRUST TRANSACTION ENTRY SCREEN DISPLAY

┌────────────────────────────────────────────────────────────────────────────────┐
│08/20/07              ***** TRUST TRANSACTION ENTRY *****                       â”‚
│────────────────────────────────────────────────────────────────────────────────│
│BATCH: 0063   CONTROL:          .00+ ACTUAL:          .00+  LEFT:          .00+ â”‚
│────────────────────────────────────────────────────────────────────────────────│
│                               ACCT  CDN            TRN                         â”‚
│SEQ CLIENT  MATTER  DATE   BNK TYPE  /US ACCOUNT#   CDE R REF#          AMOUNT  â”‚
│────────────────────────────────────────────────────────────────────────────────│
│___                                                                             â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│Client Name─────────────────────────────Matter Name─────────────────────────────│
│                                                                                â”‚
│────────────[Clear Mode: Classic clearing (as it worked in the past)]───────────│
│PRESS CR FOR ZERO, F2 FOR ZERO, F3 TO BACK UP, F5 FOR INQUIRIES.                â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘
PRESS CR FOR ZERO, F2 FOR ZERO, F3 TO BACK UP, F5 FOR INQUIRIES.

 

[Enter] to display the next sequence number.

 

If you enter an existing sequence number, the program will display the transaction and will provide the option to delete, modify or bypass the entry. See PROCEDURE - ADD/DELETE LINE.

 

 

[F2] to display detail lines.

 

** ENTER STARTING SEQ# (CR FOR FIRST; F4 TO END)

 

Enter the SEQ# of detail line to begin display.

 

[Enter] to begin display at first detail line of batch.

 

[F4] to return to SEQ# field.

 

[F3] to return to batch selection screen.

 

[F4] to exit to menu.

 

You prompted to print the batch registers. See PRINT REGISTERS AND UPDATE.

 

 

[F12] to modify clear mode.

 

Desired clear mode: 1_

 

[Enter] or "1" for classic clearing.

 

"2" to clear line values after entry.

 

"3" to not clear line values after entry.

 

 

FIELDS

 

SEQ

 

[Enter] to display next sequence number.

 

If you enter an existing sequence number, the system will display the transaction and will provide the option to bypass, delete it from the batch or print a receipt.

 

 

CLIENT

 

Enter client code.

 

After entering the first detail line, each subsequent detail line displays the same values as the previous line in this and other fields as a default. This may be modified by changing clear mode.

 

 

[Enter] to accept displayed default client code.

 

[F5] to display list of client/matters for selection.

 

MATTER

 

Enter client's matter code.

 

[Enter] to accept displayed default matter code.

 

[F3] to return to the previous field.

 

[F5] to display list of client/matters for selection.

 

DATE

 

Enter transaction date.

 

>> NOT PERMITTED. DATE NOT WITHIN BATCH G/L PERIOD. PRESS ENTER:

 

This alert message is displayed if you enter a transaction date that is not within the G/L period of the batch. Press [Enter] to clear the alert and re-enter date.

 

[Enter] to accept default date.

 

[F3] to return to the previous field.

 

BANK

 

Enter bank code.

 

Each trust transaction can only occur for a specific bank and bank account. In order to enter transactions that do not correspond to your existing accounts, you must first add new accounts using the bank account maintenance program.

 

 

[Enter] to accept displayed default bank code.

 

[F3] to return to the previous field.

 

[F5] to display list of bank and account codes for selection.

 

ACCT TYPE

 

Enter account type code (POOL or TERM).

 

[Enter] to accept displayed default account type code.

 

[F3] to return to the previous field.

 

[F5] to display list of banks, accounts and account types for selection.

 

CDN/US

 

"1" for Canadian funds.

 

"2" for US funds.

 

>> BANK ACCOUNT (BANK+CURRENCY+ACCOUNT TYPE) IS NOT ON FILE.
PRESS ENTER:

 

Each trust transaction can only occur for a specific bank and bank account. In order to enter transactions that do not correspond to your existing accounts, you must first add new accounts using the bank account maintenance program.

 

[Enter] to accept displayed default account type code.

 

[F3] to return to the previous field.

 

[F5] to display list of banks, accounts and currency codes for selection.

 

ACCOUNT #

 

No entry is required.

 

TRAN CODE

 

Enter transaction code.

 

[Enter] to accept displayed transaction code.

 

[F3] to return to the previous field.

 

[F5] to display list of transaction codes for selection.

 

REF #

 

Enter a reference number.

 

You must make an entry here, if there is no cheque involved you may enter any reference you choose to identify the transaction. If there is a cheque, enter the cheque number: precede cheque # with an "*" to bypass cheque reconciliation.

 

 

[Enter] to accept displayed reference number.

 

[F3] to return to the previous field.

 

AMOUNT

 

Enter amount of transaction.

 

[Enter] to accept displayed amount.

 

[F3] to return to the previous field.

 

>> MATTER'S ACCOUNT BALANCE CANNOT BE $$,$$$.$$-. PRESS CR:

 

This alert message displayed if you enter an amount that is not permitted: for example, a cheque amount that would make the account balance go negative. Press [Enter] to clear the alert and re-enter the amount.

 

 

** OK TO UPDATE? (ENTER TO UPDATE; F3 TO BACKUP; F4 TO BYPASS):

 

[Enter] to accept detail line and advance to next sequence number.

 

[F3] to return to the previous field.

 

[F4] to cancel detail line.

 

Example Trust Transaction Data Entry display:

┌────────────────────────────────────────────────────────────────────────────────┐
│02/18/07              ***** TRUST TRANSACTION ENTRY *****                   BTTI│
│────────────────────────────────────────────────────────────────────────────────│
│BATCH: 0028   CONTROL:          .00+ ACTUAL:   101,200.00+  LEFT:   101,200.00- â”‚
│────────────────────────────────────────────────────────────────────────────────│
│                                ACCT  CDN           TRAN                        â”‚
│SEQ  CLIENT MATTER  DATE   BANK TYPE  /US ACCOUNT # CODE  REF #         AMOUNT  â”‚
│────────────────────────────────────────────────────────────────────────────────│
│002 000001   0001 12/12/06  CKH POOL  CDN           CAS               1,200.00+ â”‚
│     DEPOSIT                            DEPOSIT                                 â”‚
│___                                                                             â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
│Client Name─────────────────────────────Matter Name─────────────────────────────│
│ABC COMPANY LIMITED                     EXTRA-PROVINCIAL REGISTRATION           │
│────────────[Clear Mode: Classic clearing (as it worked in the past)]───────────│
│PRESS CR FOR NEXT, F2 TO DISPLAY, F3 FOR BATCH CONTROL, F4 TO END,              â”‚
│OR ENTER THE SEQUENCE# OF THE LINE YOU WISH TO DISPLAY OR PROCESS.              â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘

 


PROCEDURE - ACCESS AN EXISTING BATCH

 

Select Trust Transaction Entry from the Trust Accounting menu. If there are existing batches, the oldest batch will be selected and the fields in the batch selection screen will be completed and the following prompt displayed.

 

Example Trust Transaction Header Entry display:

┌────────────────────────────────────────────────────────────────────────────────┐
│02/19/07 Tm6          ***** TRUST TRANSACTION ENTRY *****                3BTTI1 â”‚
│                                                                                â”‚
│                                                                                â”‚
│          COMPANY:            99  IdeaLaw Ltd.                                  â”‚
│          BATCH NUMBER:       0028                                              â”‚
│                                                                                â”‚
│          G/L DATE:           12/15/06                                          â”‚
│          CONTROL TOTAL:         12,000.00+                                     â”‚
│          BATCH DESCRIPTION:  BATTER TRUST MAINTENANCE                          â”‚
│                                                                                â”‚
│                                                                                â”‚
│** SPECIFY BATCH (CR=NEW BATCH; F1=START; F2=NEXT; F4=END):  ____               â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘
** SPECIFY BATCH (CR=NEW BATCH; F1=START; F2=NEXT; F4=END):

 

Enter number of batch to access.

 

[Enter] to create a new batch.

 

See PROCEDURE - BATCH CREATION/ACCESS

 

 

[F1] to continue to data entry for currently displayed batch.

 

** PRESS ENTER TO CONTINUE; 'F3' TO RE-ENTER; 'F4' TO END:

 

[Enter] to continue to data entry.

 

See PROCEDURE - DATA ENTRY.

 

 

[F3] return to batch control.

 

[F4] to exit to menu.

 

[F2] to display header of next batch, if any.

 

[F4] to exit to menu.

 

[F5] to display list of existing batches for selection.

 

 

PROCEDURE - ADD/DELETE LINES

 

If you access an existing batch the following prompt is displayed at the batch header.

 

** SPECIFY BATCH (CR=NEW BATCH; F1=START; F2=NEXT; F4=END):  ____

 

[Enter] to create a new batch.

 

See PROCEDURE - BATCH CREATION/ACCESS

 

 

[F1] to process the batch details.

 

You are taken to the data entry screen where you may add or delete lines in the batch.

 

 

[F2] to display the next batch, if any.

 

[F4] to exit to menu.

 

The following prompt is displayed at the data entry screen.

 

PRESS CR FOR NEXT, F2 TO DISPLAY, F3 FOR BATCH CONTROL, F4 TO END

 

Enter the SEQ# of the detail line you wish to display or delete.

 

** PRESS ENTER TO CONTINUE; 'D' TO DELETE

 

[Enter] to continue with data entry.

 

"D" to delete the line.

 

The line is deleted without further warning.

 

 

[Enter] to begin new detail line with next sequential number.

 

This enables you to add additional lines to the batch (See PROCEDURE - DATA ENTRY).

 

 

[F2] to display detail lines.

 

** ENTER STARTING SEQ# (CR FOR FIRST; F4 TO END)

 

Enter the SEQ# of detail line to begin display.

 

[Enter] to begin display at first detail line of batch.

 

[F4] to return to SEQ# field.

 

[F3] to return to batch selection screen.

 

[F4] to exit data entry and display the print selection menu.

 

 

PROCEDURE - REGISTER PRINTING AND UPDATE

 

After you have completed data entry in a new batch or completed adding and deleting lines to an existing batch, press [F4] to exit. You are taken to the print selection menu where you may print the batch registers.

 

PRINTER SELECTION & CONFIGURATION

┌────────────────────────────────────────────────────────────────────────────────┐
│08/14/07                *****  PRINTER SELECTION  *****                         │
│                                                                                â”‚
│                                                                                â”‚
│** MAKE SURE PRINTER IS READY BEFORE PRESSING CR .....                          â”‚
│                                                                                â”‚
│1. PRINTER NAME ................................. P1  OKIDATA 390               â”‚
│                                                                                â”‚
│2. CHARACTERS PER INCH ? (10,12,17) ............. 10                            â”‚
│   SINGLE OR DOUBLE DENSITY ? (S,D) ............. S   SINGLE DENSITY            â”‚
│                                                                                â”‚
│** PRESS CR TO SET PRINTER, OPTION# TO CHANGE, F4 TO END (BYPASS): _            â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘
** PRESS CR TO SET PRINTER, OPTION# TO CHANGE, F4 TO END (BYPASS):

 

"1" to change printers.

 

"2" to change the CPI and/or print density.

 

[Enter] to print.

 

[F4] to not print and exit to the menu.

 

[F5] to display a list of printers for selection.

 

After printing the registers you have the following options. If you do not print the registers, the batch options are not available.

 

** ENTER OPTION.....   REPRINT; MORE INPUT; UPDATE; ABORT; END:

 

"R" to reprint the register.

 

"M" to enter additional data into the batch.

 

"U" to update the batch.

 

"A" to abort the batch, all data in the batch is lost.

 

"E" to exit, batch remains open, no data is lost.

 

An example Trust Transaction Entry registers follows.

  



                                                       IdeaLaw Ltd.
02/19/07  14:24:21                                                                                       PAGE: 1
                                          TRUST ENTRY REGISTER - BATCH: TT0028

------------------------------------------------------------------------------------------------------------------------------------
SEQ                                                                ACCT  CDN/            TRAN                          DEP/
 #   CLIENT/MATTER    DATE    DESCRIPTION                    BANK  TYPE   US  ACCOUNT #  CODE     REF #         AMOUNT WDR
------------------------------------------------------------------------------------------------------------------------------------

001  000001  -0001  12/01/06  TEST                           DKH   POOL  CDN              BDD     TEST      100,000.00 DEP

     ABC COMPANY LIMITED

002  000001  -0001  12/12/06  DEPOSIT                        CKH   POOL  CDN              CAS                 1,200.00 DEP
                              DEPOSIT
     ABC COMPANY LIMITED

                                                                                                            ----------
                                                                                                            101,200.00
                                                                                                            ----------

 RECORDS: 2      ACTUAL:     101,200.00     CONTROL:     101,200.00     DIFFERENCE:            .00                                  





                               IdeaLaw Ltd.
 02/19/07  14:24:22                                               PAGE: 1
                     GENERAL LEDGER POSTING SUMMARY

 SOURCE CODE: TT           BATCH NUMBER: 0028           G/L DATE: 12/15/06
--------------------------------------------------------------------------
  ACCOUNT     ACCOUNT                                DEBIT          CREDIT
    CODE        NAME                                 AMOUNT         AMOUNT
--------------------------------------------------------------------------

99-00-1500     CIBC - KENNEDY HEIGHTS              1,200.00
99-00-1610     DCU - KENNEDY HEIGHTS             100,000.00
99-00-2900     CLIENT FUNDS HELD IN TRUST                       101,200.00
                                               ------------   ------------
                                                 101,200.00     101,200.00
                                               ============   ============