The trust journal (transaction number prefix TJ) is not actually a transaction; it cannot be reconciled against a bank statement and it does not effect the overall balance of the trust bank account. It is simply a mechanism for transferring trust funds between files.

 

 

Trust journals operate in one direction; you may decrease the funds on one file and increase the funds on one-or-more other files. The transfer is subject to the funds being available and cleared. You can also nominate the trust suspense file in place of a file in order to journal to/from suspense.

 

Trust journals support a two-step workflow (request & authorise). Once authorised, a trust journal may not be deleted, nor its particulars changed. If posted erroneously, a trust journal may be reversed; this posts an equal and opposing journal to negate the ledger effect on the files.

 

All trust journals are assigned a unique, sequential journal entry number. The entry number will always correlate with the date on which the journal was recorded, regardless of the transaction date.