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The Receipt date is the date the receipt is written, and cannot be backdated!!!!! (under legislation surrounding trust bank accounts).
It is extremely easy for auditors to check when a trust receipt was entered, so if it does not match the receipt date this will cause your firm grief! So to avoid troubles, never backdate trust receipts.
After a trust receipt is finalised the Trust Account Receipt can be viewed and should be printed and filed for audit.
IMPORTANT NOTE:
When funds are received in the form of cash or cheque and are to be banked by the law firm, the bank account on the trust receipt is Undeposited Funds.
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