Smokeball 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.
- In Smokeball, select a matter from the Matters section.
- Select the Transactions tab.
- Select Protected Funds from the left menu and then select the Protect Funds button.
- Enter the Protected Funds Reason and Amount in the Protect Trust Funds box.
- Select Process.
View protected fund totals
To view a summary of protected and available funds in the trust account for a single matter, mouseover the trust information in the upper right corner of the matter.
To view a summary of protected funds across all matters, select the Accounts view and then select Protected funds from the left menu.
Unprotect funds for dispersal
- In Smokeball, select a matter from the Matters section.
- Select the Transactions tab.
- Select Protected Funds from the left menu.
- Navigate to the fund line item you wish to unprotect, then select Unprotect under the Actions column.