You should be extremely cautious when reversing trust receipts and payments as trust accounts are a highly regulated and scrutinised scrutinized aspect of law firms.
Non- compliant trust accounting activities are the highest cause of lawyers being penalised or losing their practising practicing certificates. A
A transaction must be locked once entered. Any attempt to change the transaction MUST NOT change the original transaction.
A request for a change must create a new transaction, dated TODAY that has the effect of reversing the original transaction.
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