Prevail 10 E-Training*: Trust Ledger

The Trust Ledger allows you to track your client funds that must be kept separate from the firm’s money. With the Trust Ledger, you will be able to track deposits and withdrawals providing an accurate balance for each Matter.

Part 1: Trust Account Setup

Before you can use the Trust Ledger, an administrator with access to Trust Account Setup will need to add any relevant Trust Accounts.

1. Click Administration > Trust Account Setup

2. Click ‘Add’ under Account List.

Fill out the following fields:

1. Account Number: Enter an account number for the trust account

2. Description: Enter a name for the account (usually the bank name)

3. Detail: Enter any notes you want to add

4. Click ‘Save’.

Part 2: Using the Trust Ledger Tab

The main use for the Trust Ledger tab is to add deposits or payments toward the specific accounts you learned how to add in part one.

How to add payments and deposits:

1. Add an existing account on the left side of the screen:

   1. Click Add

   2. Type a Description

   3. Use the Account dropdown to select an account

2. On the right side of the screen, click ‘Add Payment’ or ‘Add Deposit’

3. Fill out the following fields:

   1. Subject: Enter a brief description of the payment or deposit

   2. Client: Select the client associated with this entry

      1. Prevail will default to ‘All Clients.’ This means the entry is associated with the case as a whole. You will only need to change this dropdown if you have more than one client in a matter and you need to specify which one is associated with this entry.

   3. Category (dropdown): Select a category for the new entry.

   4. Date: Defaults to the current date. Change this if it pertains to a different date.

   5. Amount: Enter the dollar amount for the deposit or payment

      1. Note: Payment entries are automatically recorded as negative values.

   6. Billable Party: Select the attorney associated with this trust payment or deposit

   7. Received From: Attach the individual or entity making the payment or deposit

      1. Click Attach

      2. Type in the payer’s name

      3. If the individual is not in your database, click ‘New Contact,’ create the contact and save.

      4. Double click or click attach to attach to the deposit entry

   8. Enter your firm's check # used to make the payment, or the check # of the person paying your firm for a deposit

   9. Add any additional details in the Notes field.

   10. Click ‘Save’.