Be aware. When reversing any trust payments or receipts as trust accounts are a highly regulated and scrutinised aspect of law firms. 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
