Summary
Learn how to complete an End of Month Rollover in to close off your trust account and generate a signed report.
This article covers:
How it works
The End of Month Rollover finalises your trust account records for the month. It compiles daily reconciliations into one report and archives it for compliance and auditing.
Before rolling over, ensure your trust account is fully reconciled.
- Go to: Accounting > Trust > Reconciliation
- Carry out a full Reconciliation of your Trust Account, ensuring it balances up to the last day of the month
Tip: The Difference box must show $0 before you can proceed with rollover.
Perform a rollover
Once reconciliation is complete, finalize the month.
- Go to: Accounting > Trust > Reconciliation
- Select the Trust Account
- Enter the closing date and closing balance for the last day of the month
- Verify that the cashbook and ledger amounts balance
- Click Rollover
You will be prompted to choose a report template.
- Select a report template
This generates the End of Month Rollover Report, which is identical to the Reconciliation Report.
Once the rollover is complete:
- Have your principal or authorising officer review and sign off on the report for compliance purposes
The report is automatically saved in the Archive section and can be reprinted anytime.
Articles in this section
- Find external ledger references
- Fix an incorrect end date in end of month rollover
- Import a bank statement for reconciliation
- Perform an End of Month Rollover
- Perform a trust account reconciliation
- Understand key terms in reconciliation and end-of-month rollover
- Unreconcile or unrollover a period
- Unpresent transactions in a reconciliation