Below are a number of frequently asked questions surrounding Trust Accounting.
How do I record statutory funds when entering an opening balance in mattero?
Enter the statutory funds amount as a negative opening balance.
View the Create an Opening Balance for a Trust Account article for more information.
I added the statutory funds' opening balance as a Trust payment, why is the reconciliation out by this amount?
On your first month's reconciliation in mattero, you must take into account the statutory funds' opening balance amount when entering your opening balance.
For example, if your statutory funds' opening balance is $1000, you must subtract $1000 from your reconciliation statement's opening balance.
Once this is done, select the payment you have created in mattero as part of this month's reconciliation.
For more information, view the Trust Reconciliation article.
When setting up my mattero Trust Account, where do I add cheques and payments made from our Trust that our clients haven't deposited?
Next, begin a Trust Reconciliation and add an Adjustment for the amount of the cheque or payment.
(For more information on this process, view the "Resolving Discrepancies" section of the Trust Reconciliation article.)
Please note, the Trust Reconciliation should not be published at this time; instead, only select the "Save and Preview" option when running a Trust Reconciliation.
Finally, once the cheque or payment is deposited, remove the adjustment from the Trust Reconciliation.
How do I record a Trust to Office transfer? (Transferring funds from a Trust account to General account to pay a client's invoice.)
You can record Trust to Office transfers by creating a Trust Record Invoice Payment. Please note, you must create and approve an Invoice before processing any Invoice payments.
Why are some Trust transactions not displayed in the Bank Reconciliation?
Some transactions may be marked "undeposited".
When a receipt has a Type, Cheque, and/or Cash listing, you must create and publish a Trust Record Deposit Listing in mattero.
This creates the Deposit Listing Record, which is presented to your banking institution when depositing funds.
Please note, you must first create a Trust Receipt for the transaction.
Why are the Trust reports not displaying the Trust records I entered?
mattero reports Trust transactions according to their input date, not transaction date.
For example, if a Trust transaction occurred on 30 January, but was entered in mattero on 1 February, it will appear as a February transaction.
Please note, if Trust transactions have been recorded outside a reconciliation period, you may need to add an adjustment.
View the Resolving Discrepancies section of the Trust Reconciliation article for more information.
I have an invoice in Xero that was raised prior to starting with mattero; how can I bring this invoice from Xero to mattero so I can make payments and sync between these two services?
You can migrate your legacy Invoices into mattero, and synchronise Xero and mattero once this process is complete.
To do this, use the "Link" integration option when importing data into mattero.
Does mattero process Controlled Monies and/or Transit Monies in its Trust Account?
mattero does not manage Controlled Monies or Transit Monies, and as such also does not generate reports for these funds either. mattero manages the General Trust account for your organisation.
If you require a Controlled Monies or Transit Monies fund to be managed, mattero recommends contacting your local legal authority for guidelines on the legal requirements for managing such a fund.
What version number is mattero on?
mattero does not have a version number.
Our system automatically updates to the latest version whenever any new features or fixes are released. Your mattero account will always use the latest version and will not require any manual updates.
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