Disbursement Profiles are used in Trust Accounting to set preferences for different types of disbursements that may be performed. They are only relevant for accounts connected to Trust Accounting.
Manage Disbursement Profiles on your Trust Account by clicking Settings on the green main menu, selecting a company to work with, then Disbursement Profiles in the accounting section.
Managing Disbursement Profiles
Disbursement Profiles List
Use the tabs above the list to view current or archived Disbursement Profiles.
Click the name link to open a disbursement profile to edit or view.
Create a New Disbursement Profile
Use the green button to add a new disbursement profile.
Set a name for the new disbursement profile, the name should make it clear for the users what the profile is going to do, or when it should be used.
Select Disbursement Types - this determines what kind of funds can be paid out using this profile.
Select reports required. These will be produced and stored each time a disbursement is processed. Many of the reports available are trust accounting reports which you may not wish to produce when running a disbursement. The Close of Period process is used to generate audit reports, see Trust Accounts for more information on setting up your end of period reports.
Care should be taken in selecting the Owners Statement report, it should only be produced on relevant disbursements to avoid confusion with the contents.
Save Profile to keep these settings.
Some examples of disbursement profiles you might like to set up are:
- Mid Month Payout - disburse all types, produce summary reports (maybe also Owner Statements)
- Bond Disbursement - disburse only bonds, produce summary reports
- Creditor Payments - disburse only creditors, produce summary reports
- End of Month Payout - disburse all types, produce Owners Statement and summary reports
- Once off Owner Payment - disburse only owners, produce summary reports
When setting up an owner, select applicable profiles on their contact to allow funds to be disbursed on their behalf.
Selecting Disbursement Profiles for a Contact
Active disbursement profiles can be assigned to contacts. See Managing Contacts for information about finding contacts.
Within a contact file, disbursement profiles are selected in the Owner Details section. All options applicable to that owner should be ticked.
Editing or Archiving a Disbursement Profile
Make changes as required and Save Profile to keep the changes.
Select Archive to remove the disbursement profile.
Confirm Archive Disbursement Profile
Click Archive this disbursement profile to confirm that you want to archive this record.
Restoring an archived disbursement profile
Access archived disbursement profiles using the tabs above the list. Click Restore to unarchive a profile.
A restored profile will be applied to the same owner contacts as it was at the time of archival.