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Categories in a Trust Account

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Merv Miller Posted: Sun, Feb 4 2007 7:25 AM
I pay all of the bills for one on my severely disabled clients.  How can I categorize the withdrawals and payments I transact for her over the course of a month or a year for reporting purposes?  All of these transactions are run through my attorney trust account. 

Up to now I have been logging these transactions (as well as my other clients' Trust Account transactions) through BM but actually writing the checks and keeping a Master Trust Account register through Quicken.  The client was a category in Quicken and there were various subcategories for that client (i.e. household, medical, Property Taxes, Social Security receipt, etc.).  At the end of the year, I could simply run a Quicken report totaling each of the subcategories.  I now have TM/BM 8E.  BM+ is now part of the package so I am hoping that I can combine all I have previously been doing in BM and Quicken into BM+ and stop using Quicken for my Trust Account. 
Merv (Merwyn J.) Miller Estate Planning, Trust, & Probate Attorney Encinitas, CA 92024 760-436-8832 Fax 815-346-5375
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Posts 589

You might be able to use the Department feature.  If you are writing checks from your operating checking account, adding the Department would allow you to run the Income Statement and filter by Department and Date Range.  File>Setup>Accounting Options>Departments.  Each check would then be subtotaled by GL Account.

I'm not sure this is what you are looking for and I haven't tested so you may want to try it out in the Tutor Database first and check the results.

Richard B. Marx MME Consulting Services, LLC Lexis Nexis Time Matters Certified Independent Consultant (CIC) Moderator Phoenix, AZ 602-667-5706

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