The client trust ledger: what it is and who uses it

Trust money is money the firm holds on behalf of a client (an advance, a settlement amount…) and is not yet the firm's revenue. Practice keeps a separate ledger per client so the firm always knows how much it holds for each one.

Access and plan

• Only the owner, partners and the accountant open Trust. Others are sent back to the home page.
• The feature is in Solo and Firm. On the Free plan a card says The trust ledger is on paid plans instead of the ledger. See Compare plans.

How it works

• Trust account: a bank account (name, bank, IBAN) the entries are recorded against. You can have several. An account with entries cannot be deleted; use Deactivate and Activate.
• Balance per client across all accounts, with Total held for clients at the top of the page.
• No withdrawal above the balance: "The client's balance is too low for this withdrawal."
• The ledger is never edited or deleted: "Entries cannot be edited or deleted once recorded"; corrections are new entries.
• Export: Export CSV for one client or Export all ledgers (CSV).
• An invoice can be paid from a client's balance; see Entries and paying invoices.

Open Trust