The Combine Trust Transactions program is used to combine one or more unpaid check, EFT, or deposit transactions into a single combined transaction that can be cleared on the reconciliation.
To Combine Trust Transactions
Now all of the entries you included on the combined transaction will show as a single item on your reconciliation.
Did you know that you can easily review past reconciliation reports when needed, right from the software? Both General Ledger (GLS) and Trust Accounting (TAS) store Reconciliation Reports as PDFs for quick review.
To review a past Reconciliation Report
Note: Reconciliation reports are stored in the Reconciliation folder of the Current Working Directory.
You can use the Undo Reconciliation feature. When undoing a reconciliation, any items that were cleared on the undone reconciliation will be marked as cleared the next time the Reconciliation program is opened. This allows you to make any necessary edits without starting from scratch.
To undo a reconciliation
Notes: Reconciliations performed prior to Version 18 cannot be undone. Only the most recent reconciliation can be undone. If the check is on an older reconciliation, the more recent reconciliation(s) must be undone first in sequential order.
Thinking about purchasing a license for our Trust Accounting, Accounts Payable, and/or General Ledger software, but not sure what they offer? Take a quick tour!
The Tabs3 Financials Overview video walks you through the highlights of our financial software. Learn more about how you can easily manage trust accounts, get financial statements, write checks, reconcile bank statements, and print 1099’s in one seamlessly integrated software suite!
Watch this four-minute video here:
Training Videos can be accessed at Tabs3.com/videos. You can also access the videos while in the software by selecting Help | Training Videos.
We’ve added the ability to open the Three-Way Reconciliation Report via the TAS Dashboard! When you update to Version 20.1.7 or later, you can quickly run this report for the bank account’s last reconciliation by clicking the 3-Way Rec link.
Note: The text “No reconciliation history” will be displayed if no reconciliation records exist for the account.
When “Secure Client” is shown on the Reconciliation, the transaction’s Trust Account is set as a Secure Client in Tabs3 and you do not have permission to view this client. Clients marked as Secure in Tabs3 will also be secure in PracticeMaster and Trust Accounting Software.
In addition, if the user who finalizes the reconciliation does not have rights to that Secure Client, then “Secure Client” will also be shown in the Name/Description column for the Reconciliation Report, even if the person viewing the saved report has access to that client.
If you need to see this information, someone with Manager access rights must add you to the secure clients’ list of allowed users. Users with Manager access rights can specify which users have access to secure clients. Information on designating secure clients and granting access to users can be found by pressing F1 while in the software and entering “Secure Clients” on the Index tab.
A password can be specified in order to help protect reconciliation report PDFs, and is set up at the bank account level. Passwords are case sensitive and can be up to 20 characters long. Spaces and special characters are allowed.
To specify a password for a bank account’s reconciliation report PDFs
Note: The same password will be used for all reconciliation reports for this bank account created by the Reconciliation program. Changing or removing the password will not affect any existing PDF reconciliation report files.
When printed with outstanding entries, the Reconciliation Report provides a calculation of the current balance for the account being reconciled as of the statement date of the reconciliation. This figure is calculated by subtracting any outstanding withdrawals and adding any outstanding deposits to the ending balance.
This calculation can be compared to the Current Balance on the Balance Sheet if the following are true:
If all of the above is true and the two numbers still do not match, it may be due to one or more of the following:
For more information, including steps to troubleshooting a difference between these two numbers, refer to Knowledge Base Article R11661, “GLS Reconciliation Troubleshooting.”
Tabs3 Trust Accounting Software (TAS) is designed to help your firm keep track of the trust accounts you manage.
TAS tracks an unlimited number of trust accounts and manages up to 99 different bank accounts. The software can warn you when an account goes below a minimum balance, and provides optional credit card processing (merchant account required).
You can print checks, enter manual checks, print trust ledgers for individual trust accounts and bank accounts, reconcile your bank account in the software, and track your checks through a variety of reports.
TAS provides seamless integration with Tabs3 Billing, Tabs3 Accounts Payable Software (APS), and Tabs3 General Ledger Software (GLS).
Trust accounting regulations require strict adherence. Tabs3 Trust Accounting Software provides peace of mind with the tools to help your firm manage your trust accounts.