How to work with Transactions, Transfers and Disbursements

In this tutorial, you will learn the basic concepts to manage the different types of Transactions to make deposits, withdrawals, or adjustments in bank accounts

Table of contents

Creating a Transaction

To start creating transactions, use one of these ways:

In the New Transaction panel, fill in fields as follows:

  • Amount: Enter the amount of the transaction.

    Only positive values are allowed, to make a withdrawal you can Issue a Refund or Disburse Funds.

  • Date:  Select the date of the transaction if necessary. By default, it will be the current date.

The following fields define the depth level of the transaction:

  1. Account: Select an account to which the amount will be transferred (account level).
  2. Client: If you select a client, the transaction amount will be available to that client, including all their matters (client level).
  3. Matter: If you select a matter, the transaction amount will be available specifically for that client matter (matter level).

The following fields are optional, it is recommended to fill them to better identify the transaction:

  • Source/Recipient: Enter from whom the funds were received.
  • Payment Method: Select the way the funds were received.
  • Check Or Reference No: Enter a reference regarding the transaction.

    This field can help you track when you are consolidating your bank statements.

  • Description: Enter the reason the funds are received.

Once you have completed the fields you need, click the Save button.

Before making a transaction, consider the following items:

  • The transaction amount can optionally be a source from which invoice payments can be made for a client or matter, depending on the level selected.

    Maatdesk’s priority is to use funds at the matter level.

  • Transactions will be recorded as a deposit (credit type) in the selected account and according to the selected level.
  • Depending on where the transaction is created, the reference information will be populated.

Transferring Funds

Unlike a transaction, fund transfers can be made between bank accounts or matters. While transactions allow the deposit of funds into an account, transfers allow the exchange of funds internally.

To start creating a transfer, click the Transfer Funds button at:

Transferring funds between bank accounts

This type of transaction allows the transfer of funds between bank accounts of a client or matter so that those funds are available in the Destination Account.

From the Add Transfer panel, the first step is to select the option Between bank accounts (selected by default).

When selecting this type of transfer, fill in the fields as follow:

  • Date: Select the date of the transfer if necessary. By default, it will be the current date.

The following two fields define the depth level of the transfer:

  1. Client: Select the client for whom the transfer will be made (client level).
  2. Matter: If you select a matter related to the client, the transfer will be made specifically for that matter (matter level).
  • Source and Destination Accounts: Select the account from which the funds will be withdrawn and to which they will be deposited.

    In these fields you must take into account the following:

    • The source accounts shown will be only those with available funds, depending on the level selected.
    • Destination accounts will show all existing Maatdesk bank accounts except the selected source, whether they have funds or not.
  • Amount: Enter the amount of the transfer, which must be equal to or less than the balance of the Source Account.
  • Description: Enter the reason for the transfer.

Once you have completed the fields you need, click the Save button.

The transfer cannot be made when:

  • The selected client or matter has no funds in any account.
  • The firm has less than two bank accounts.

Accounts deposits for a matter are visible in the Financials section of the Matter dashboard.

Transferring funds between matters

This type of transaction allows the transfer of funds between the matters of a client.

Unlike transfers between bank accounts, funds are exchanged internally between matters, to another or the same bank account, so that those funds are available to the Destination Matter in the Destination Account.  

From the Add Transfer panel, the first step is to select the Between matters option.

When selecting this type of transfer, fill in the fields as follow:

  • Date: Select the date of the transfer if necessary. By default, it will be the current date.
  • Client: Select the client to which the matters involved in the transfer are associated.
  • Source and Destination Accounts: Select where the matter whose funds will be withdrawn is located and where they will be deposited.

    Both accounts can coincide, being able to transfer funds between matters and keep them in the same bank account.

  • Source and Destination Matter: Select the matter from which the funds will be withdrawn and to which they will be deposited.

    In these fields you must take into account the following:

    • Both fields will show only those matters associated with the selected client.
    • The source matters shown will be those with funds in the previously selected Source Account.
  • Amount: Enter the amount to be transferred, which must be equal to or less than the balance of the Source Matter.
  • Description: Enter the reason for the transfer.

Once you have completed the fields you need, click the Save button.

After the transfer is complete, Maatdesk will generate two transactions:

  1. Debit type: Reflects the withdrawal of the amount from the Source fields.
  2. Credit type: Reflects the deposit of the amount in the Destination fields.

The transfer cannot be made when the selected client:

  • Does not have any associated matter.
  • Has no deposits in any matter.
  • Has less than two matters.

Funds available for a client matter are visible in the Financials section of the Matter dashboard.

Disbursing Funds

A disbursement is an act of returning unearned funds to a client or third party that can only be made from Trust accounts.

To start making a disbursement:

  • Go to the Transactions window for a Trust account.

    This window can be accessed by clicking on any trust account name in the Accounts window.

  • Click the Disburse Funds button.

In the Disburse Funds panel, fill in the fields as follows:

The following three fields define the depth level of the disbursement:

  1. Account: Select the account from which the withdrawal will be made (account level).
  2. Client: If you select a client, the withdrawal will be made specifically for that client (client level).
  3. Matter: If you select a matter, the withdrawal will be made specifically for that matter (matter level).
  • Amount: Enter the withdrawal amount, which must be equal to or less than the available balance to disburse for the selected level.
  • Date: Select the date of the disbursement if necessary. By default, it will be the current date.

The following fields are optional, it is recommended to fill them to better identify the disbursement:

  • Source/Recipient: Enter who receives the funds.
  • Payment Method: Select how the disbursement was issued
  • Check Or Reference No: Enter a reference regarding the disbursement.

    This field can help you track when you are consolidating your bank statements.

  • Description: Enter the reason the funds are being returned.

Once you have completed the fields you need, click the Record transaction button.

It is recommended to consider the following items before performing this action:

  • Disbursements will be recorded as a debit-type transaction in the selected account and according to the selected level.
  • If there are no funds available to disburse at a selected level, the operation cannot be carried out.

In Maatdesk, we make laws easy for you. Enjoy!

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