This guide explains how to apply trust funds towards an open invoice using Lollipayments. Managing trust balances ensures payments are accurately allocated within each matter. Let's look at the steps:
Step 1: Open Matter and Go to Billing
Open the relevant Matter record and navigate to the Billing tab. In the Billing Overview section, you can review the client's available trust balance from the Account Balances card.
Step 2: Check Trust Balance
Review the available trust balance for the matter. For example, the matter may have $3,000 available in trust.
Step 3: Locate Open Invoice
Navigate to Invoices and Trust requests and locate the open invoice you wish to pay.
Step 4: Apply Funds from Trust
Open the Action menu for the invoice and select Apply Funds from Trust.
Step 5: Confirm Accounts
Confirm the source account (trust) and the destination account where funds should be applied.
Step 6: Enter Amount to Apply
Enter the amount to apply towards the invoice. For example, apply $2,000, leaving $1,000 remaining in trust.
Step 7: Verify Available Funds
Lollylaw will automatically display whether sufficient trust funds are available for the transaction.
Step 8: Apply Funds
Once all information is confirmed, click Apply Funds to complete the process.
Step 9: Review Transaction Activity
Review the updated transaction activity in the Transactions section of the Billing tab to verify the payment was applied.
Lollipayments helps your office efficiently manage trust activity and maintain clear visibility into balances and invoice payments.