Banking
The banking functions create records in Rex for when money is banked (cash and cheques only). This is required to comply with trust accounting regulations and is an important step for reconciling transactions.
Banking is usually carried out daily so ensure you’re familiar with the functionality described in the help content.
Creating Deposit Slips
- From the left side menu, go to Finanicals > Under Trust, go to All Trust Accounts
- Select the relevant trust account
- Click the red + button associated with Recent Banking/Deposits
- This will load the Banking Deposit screen. Select the transactions you want to bank by ticking the checkbox. Transactions not ticked will be excluded from your banking/deposit slip.
- Confirm the banking total matches the sum of your physical banking items (i.e. cash and any cheques)
- When satisfied click Create Deposit Slip
- Click Print Deposit
- Once the banking has been processed return to the relevant trust account.
- Click Resume unfinished deposit #ID next to Recent Banking / Deposits
- Click Confirm as Deposited
- Print and store in accordance with the trust operational guidelines for your agency.
Void Deposit Slips
Whilst a deposit slip is pending it may be voided, follow the below steps to void a deposit slip:
- From the left side menu, go to Finanicals > Under Trust, go to All Trust Accounts
- Select the relevant trust account
- Click Resume unfinished deposit #ID next to Recent Banking / Deposits
- Click Void Deposit
- Click Confirm
- The notification banner will turn red advising that you have an abandoned deposit.
View / Print Deposit Slips
Whilst in the relevant trust account it is possible to view any and all deposits associated with that account.
- From the left side menu, go to Finanicals > Under Trust, go to All Trust Accounts
- Select the relevant trust account
- Click view all deposits across from Recent Banking / Deposits
- This will load a complete history of all deposits with the option to view each individual deposit and re-print reports
- Open any of the deposit slips by clicking on them
- Click Print Deposit to print off a deposit slip