Held Payment Management

Trust accounting is a serious business that comes with a lot of responsibility and therefore compliance. Over-drawing the trust account is a huge no no. To avoid this, for payment methods that require clearance from the financial institution, like cheques, be sure to place them on hold for the number of days required by the financial institution. When refunding trust money to the client, held payments are excluded, just to safeguard you from paying a client, then having some of those funds dishonour, rendering your trust account as overdrawn.

Accounting > Trust > Held Payments

Display and Amend Held Payments for Clearance

View all trust payments currently held for payment and change the number of days on hold.

When you enter the process from the menu, a table will automatically populate all payments currently held for clearance.

To change the number of days held, tick the “Change” box on the row relating to the payment you want changed. The “Clear Days” field will become enabled, allowing you to input a new number of days for clearance. Click “Save” on the Action Bar to record changes.

Clear Held Trust Receipts

Held trust payments can only be cleared via this process. All payments on hold also hold the calculated commission and so clearing the payment will also apply the commission charge. Trust cheque payments should be held for at least three days to protect from prematurely refunding dishonoured payments to your client.

To generate a list of held trust payments ready for clearance, choose a bank account from the drop down list labeled "Bank Account".