You should be extremely cautious when reversing trust receipts and payments as trust accounts are a highly regulated and scrutinized aspect of law firms.
Non Non- compliant trust accounting activities are the highest cause of lawyers being penalised or losing their practising certificates.
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.
How to Reverse a Trust Receipt
Open Trust Register:
Select the receipt to be reversed, this can either be picked from the list provided or manually searching into the required by manually searching using the required parameter fields.
Once opened required receipt, select 'Reverse Transaction' from the top of page:
Fill in the required fields, then select reverse transaction:
The finalised original and reversed transaction transactions will show display with a 'REV' next to it in the status column in the Trust Register:
How to Reverse a Trust Payment
Open Trust Register:
Select payment to be reversed, this this can either be picked from the list provided or by manually searching into using the required required parameter fields.
Once you have opened the required Payment, select 'Reverse Transaction' from the top of page:
Fill in the required fields, then select reverse transaction:
The finalised original and reversed transaction transactions will show display with a 'REV' next to it in the status column in the Trust Register:
