Total Legal Accounting 3
SECTION 3.3.4 - TRUST RECEIPTS
USAGE: To enter Receipts into the Securities & Investments sub-system. These are amounts that are paid out of the account. Normally, these are entered automatically when you enter a Trust Receipt via the Client/Trust system (see SECTION 22.214.171.124). However, if you have entered a Trust Receipt via that program and have forgotten to link it to the Securities file, you can enter the transaction here, manually.
DISCUSSION: When you start the TRUST RECEIPTS program, T.L.A. initially asks you for a Register code. If you cannot remember the code, press <F9> to initiate a search. T.L.A. will check that the code does not refer to a file that is closed.
Typically, the screen will now look like this:
The file will be displayed with its corresponding Trust account, the name on the Trust file, the description of the account and the amount invested. Also the current Account Balance is displayed on the left of the screen.
Next you must enter the details of the transaction. There are several fields to enter:
DATE This field defaults to today’s date (as per the date at the top right-hand-corner of your screen). You may change it to any valid date within the calendar (as defined in SECTION 7.1.6.) This is the date you wish to bill the amount. Aging of the account will start from this date. You may return the date to today’s date by pressing <F1>.
DESCRIPTION Here you enter the details of the transaction. It cannot be blank, but you can change it to any 50 character description.
REFERENCE This field will default to the last reference number you entered, plus one. Depending on your settings in SYSTEM DEFAULTS (see SECTION 7.1.2) you may be able to change it to a different, non-zero value. The largest value available is 999999.
RECEIPT VALUE This is the total value of the Receipt you are depositing.
At each point, you may cancel the TRUST RECEIPT by pressing <ESC>. However, it is possible to return to a specific field by using <CsrUp> or <F8>.
At the end of the TRUST RECEIPT you will be asked to confirm the update. This is the point of no return. Once you answer Y, T.L.A. will update all the relevant files. Up to this point you can cancel or modify the details. After you have updated the TRUST RECEIPT, you can only remove it by entering a negative TRUST RECEIPT i.e. the same entry but with a negative value.
Files updated by the Trust Receipts program:
Securities & Investments master-file: The Security’s balance is updated with the value of the transaction.
Securities & Investments transaction file: A transaction is entered with the details of the transaction.
Client/Trust master-file: The Trust file, which this Securities file links to, is updated with the value of the transaction.
Audit transaction-file: Each transaction creates a line in the Audit file, which can then be printed in the AUDIT TRAIL.