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'Can Backdate Trust Receipts' is an important feature and should only be used during the set up of the firm. We strongly recommend that once the set up is complete that the settings are changed so that trust receipts cannot be backdated.
talk about ref numbers
The Bank Rec Nag Days is the reminder that appears to indicate a the firm hasn't done a bank reconciliation. It is recommended that this be set between 28 and 31 days. However, it is important to remember to always reconcile to the last day of the month, regardless of whether the bank account has been reconciled to the day before or not. Auditors can be very strict on this, so ensure all trust bank reconciliations are to the last day of the month.
It is strongly recommended that the Default Reversal Date, be set at current date. There is the occasional situation where the original transaction date may be a useful option; for example when entering opening balances. Ensure once all opening balances are entered, that the reversal date is changed back to current date.
Allow Electronic Trust Cheques is available as some jurisdictions allow payment of trust monies by EFT. In Queensland firms are only allowed to have EFT transactions if they have been specifically approved by the Law Society, specifically for their firm.
If your firm does not have express permission in writing to use EFT transfers, do not tick this box.
General
Users And Access Rights
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