In
ContactsLaw, all trust
transactions occur at
file scope. The sum of the balances on all files always equals the balance of the entire
trust bank account. Unlike the general accounting system, where a suspense mechanism exists as a
controlled account, in the trust accounting system, a virtual file is provided for this purpose.
The
trust suspense file is, in fact, not a real file. However, for the purposes of the trust system, it behaves like one. You can view its transactions by clicking on the
Suspense view on the Trust tab under
The Practice. You can post transactions to/from the suspense file by right-clicking a file
hyperlink in any of the trust
activities and selecting the
'Use suspense file' option.
| Note: In order to post transactions to the suspense file, a member must be granted edit permissions for trust transactions. |
A summary of the suspense activity occurring within each
reconciliation period is displayed upon printing a reconciliation. You should not finalise a
trust reconciliation if there is a non-zero balance on the suspense file at the end of the period.