Post Invested Trust Receipts

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The Post Invested Trust Receipts routine allows the user to manage trust investments that have been made on behalf of the Client. For example, if the Firm is responsible for investing a Client's trust money, the details for that investment are recorded through this form. This routine identifies different types of investments (i.e. into a Daily Savings Account, Term Investments, etc), as well as the type of trust being invested (i.e. Trust Principal, Interest Earned, etc). Note: This routine handles trust investments for Matters that are currently open or soft closed (i.e.. closed, but can still be posted to); hard closed Matters are not accepted in this routine.

 When the Post Invested Trust Receipts routine is accessed from the eQuinox main menu, the screen shown below will be displayed.
 
Field Definition

The first two fields on this screen display the Journal Type (TRI) and the Journal Number (45762).

Date
The date on which the Invested Trust information is being entered into the system. The default is the current System Date, but this may be changed by making a selection from the Calendar provided.

Acct Period
The Month (in number format) and Year of the Firm's current Accounting Period. This field automatically defaults to the current Accounting Period. Note: Depending on the Firm's preferences (as indicated in the Firm Parameters routine), the user may be alerted with a message when Posting the Invested Trust Receipts, and asked to verify the Accounting Period; this is used to ensure that all transactions occur within the correct Accounting Period.

Trust Bank
The unique identifier and name of the Trust Account from which the Trust being invested was taken. A selection may be made from the List of Values provided.

Investment
In the Investment section of the screen seen below, the user must enter details about new trust investments.

Investment ID
The system generates a unique identifier for each trust investment transaction. The ID is generated and displayed once the user finishes entering the necessary information in the Investment section and moves into the next block. The user cannot access this field.

Client
The unique identifier (i.e. in the top Client field) and name (i.e. in the lower Client field) of the Client associated with the current trust investment record. A selection may be made from the Look-Up form provided. If known, the user can simply enter the unique identifier of the Matter rather than using the Look-Up form.

Matter
The unique identifier (i.e. in the top Matter field) and name (i.e. in the lower Client field) of the Matter associated with the current trust investment record. A selection may be made from the Look-Up form provided. If known, the user can simply enter the unique identifier of the Matter rather than using the Look-Up form.

Type
The type of investment being made.  A selection may be made from the List of Values provided. Valid options include "D" (Daily Savings Account), "G" (Guaranteed Investment Certificate), "O" (Other), and "T" (Term Certificate). When viewing existing records, this field cannot be edited or updated by the user.

Inv Date
The date on which the current trust investment took place. When entering new investment records, this field defaults to the current system date, but may be changed by making a selection from the Calendar provided. When viewing existing records, this field cannot be edited or updated by the user.

Certificate/Acct No
The user must enter the Certificate Number or the Bank Account Number associated with the current trust investment. When viewing existing records, this field cannot be edited or updated by the user. If the user is entering a new Trust record for an existing Investment record, they must enter a new certificate or account number.

Term
This field is used in conjunction with Investment Types "G" (Guaranteed Investment Certificate), "O" (Other), and "T" (Term Certificate). The user must enter the length in days of the current term investment. This field can be edited or updated at any time.

Maturity Date
This field is used in conjunction with the Term field. This field displays the date on which the current term investment matures. This date is automatically calculated and displayed, based on the length of the term (i.e. based on the number of days entered in the previous field).

Int Rate
The rate of interest that is being applied to the current trust investment. The user may enter the interest rate up to three places after the decimal. When viewing existing records, this field cannot be edited or updated by the user.

Inv Balance Total
The total amount of Trust money currently invested for the current Client/Matter. This information is for display purposes only and cannot be edited or updated by the user.

Inv Balance in this Trust Bank
 The total amount of Trust money invested in the current Trust Bank for the current Client/Matter. This information is for display purposes only and cannot be edited or updated by the user.

Trust Transaction Details
In the Trust section of the screen seen below, the user must enter a record for each type of trust (i.e. investing Principal, investing Interest, etc) that makes up the overall investment. A single Investment record may have one or many Trust records. When viewing existing Investment records the user may only enter new Trust records, not edit the existing ones.

Rev
 To reverse the current Trust Investment transaction, the user must "check" this field. The Reversal will take place when the user posts the transactions.

Type
The type of trust being invested. A selection may be made from the List of Values provided. Valid options include "A" (Additional Principal), "I" (Interest), "P" (Principal), "R" (Redemption).

Tran Date
The date of the current investment transaction. When entering new records, this field defaults to the current system date, but this may be changed by making a selection from the Calendar provided.

Hold Date
The date until which the current record is placed "on hold". The default is 10 days after the Tran Date, but this may be changed by making a selection from the Calendar provided.

Description
Any information the user may wish to enter about the current trust investment record.

Bank
The number and name of the Bank Account from which the Trust money being invested in the current transaction was taken.

Amount
The user must manually enter the dollar amount of the current trust investment record.

Running Bal
A running balance of the trust invested for the current Client/Matter. The user cannot edit this field, as it updates automatically when records are added or reversed.

When all the necessary information has been entered, the user must click the Save button to post the Trust Investment information.

A successful transaction.

 Once the user has clicked the Save button (or pressed F10), and the information has successfully been posted, the message seen on the left will be displayed to the user.

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