Protect funds in trust retainer accounts

Smokeball Billing offers the ability for firms to set aside and protect funds that have been earmarked for a specific purpose, ensuring those funds do not get used accidentally.

Learn how to set up protected funds, how to find where the protected funds can be found and managed, and how to unprotect the funds once your firm is ready to use them. 

Add protected trust funds

Once funds have been deposited into a client's trust account, you will have the option to protect them. The Protected Funds subaccount is the holding space where you can view and manage Protected Trust Funds on a matter. This is not a separate trust account.

  1. In Smokeball Billing, select a matter from the Matters section.
  2. Select the Transactions tab.
  3. Select Protected Funds from the left menu.
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  4. Select Protect Funds under the client's BSB and Account number.
  5. Enter the Protected Funds Reason and Amount in the Protect Trust Funds box.
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  6. Select Process.

View protected fund totals

To view a summary of protected and available funds in the trust account for a single matter, check the top-right section of the Transactions tab within the matter.

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To view a summary of protected funds across all matters, select the Accounts tab, then select Protected funds from the left menu.

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Unprotect funds for dispersal

  1. In Smokeball Billing, select a matter from the Matters section.
  2. Select the Transactions tab.
  3. Select Protected Funds from the left menu.
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  4. Navigate to the fund line item you wish to unprotect, then select Unprotect under the Actions column.
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