It is often necessary to issue disbursements from your trust account. Your MONESQ Plus account allows you to issue disbursement from your trust account to your operating account, to a contact, or to a third party:
Initiating a disbursement
Click the white '+ New' button in the header area and then select 'Trust disbursement' form the ensuing menu:
You may also initiate a disbursement from the trust accounting dashboard:
- Click 'Trust' from the menu on the left:
- From the trust accounting dashboard, click the white '+' button and then select 'Disbursement' from the ensuing menu:
- You can also initiate a disbursement from the 'Disbursements' tab of the trust accounting dashboard by selecting the 'Disbursements' tab then clicking the white '+' button next to 'Disbursements' at the top of the screen:
Creating a disbursement
When you initiate a disbursement, you will be directed to a disbursement screen. Here you select whether you are generating a disbursement to your operating account, a contact, or a third party.
Generating a disbursements to your operating account
Select 'Operating account' from the top of the disbursement screen:
Owed to Operating (OTO) balances are created in MONESQ when you accept payments using a transfer from your trust account. You can then clear that amount by generating a disbursement from your trust account to your operating account.
You will see a total balance owed to operating along with individual payments that make up the total:
You can select payments individually by checking the box next to the payments you'd like to include, or all at once by checking the box in the header row. As you select the payments owed to operating, the total for your disbursement will change to reflect your selections:
Once you've selected the payments due to operating you'd like to include in your disbursement, you'll see that your payment details are now populated:
- Amount: This number reflects the sum of the payments you've selected to include in your disbursement.
- Memo/purpose: The text entered here will populate the memo field on your check.
You can see a visual representation of your check in the preview area. Please note that the preview may not match the printed check exactly. Please preview checks before printing.
If you wish to save your disbursement for later printing click 'Save'. You will be directed to a disbursement summary screen where you can download a PDF, print, or close the screen:
If you wish to print a check immediately, click 'Save & print' (see instructions below)
Generating a disbursements to a contact
Once you have initiated a disbursement, select the 'Contact' tab from the top of the Disbursement screen:
- Payee: Select the contact/matter you'd like to generate a disbursement to
- Amount: Specify an amount for this disbursement
- NOTE: you may not exceed the trust account balance
- Payment date: Specify a payment date
- Memo: Enter the text you wish to appear on the memo line of your check
When you have finished entering this information, the check preview box below will automatically populate with the information you've entered:
If you wish to save your disbursement for later printing click 'Save'. You will be directed to a disbursement summary screen where you can download a PDF, print, or close the screen.
If you wish to print, click the 'Save & print' button to print a check (see instructions below)
Generating a disbursements to a 3rd party
It is likely at some point, that you will need to disburse funds to a third party from your trust account. MONESQ Plus provides you with the ability to do so.
Once you have initiated a disbursement, select the '3rd party' tab from the top of the Disbursement screen:
- Contact/Matter trust ledger: Select the contact/matter you with to disburse funds from.
- Select 3rd party payee: Select the third party payee you wish to issue a disbursement to. If the 3rd party payee doesn't yet exist in MONESQ, click the 'Create new' icon in the pull-down menu.
- This will produce a screen with which you can create a new 3rd party payee.
- When you have created your new payee, click 'Create Payee'.
- Amount: Specify an amount you wish to disburse to the 3rd party payee
- This may not exceed your trust account balance
- Payment date: Specify the disbursement date
- Memo/purpose: Enter the text you'd like to have appear on the memo line of your check
As with other disbursement types, when you have finished entering this information, the check preview box below will automatically populate with the information you've entered:
If you wish to save your disbursement for later printing click 'Save'. You will be directed to a disbursement summary screen where you can download a PDF, print, or close the screen.
If you wish to print, click the 'Save & print' button to print a check. (see instructions or read below)
Printing your checks
Clicking the 'Print check' icon will produce the 'Print checks' page:
Select checks to print
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If you initiate printing directly from the the disbursement set up set-up screen, the disbursement you just created is selected by default. If you wish to add additional pending checks to your print job, select them.
Print settings
- Starting check number: Enter the next check in sequence on your pre-printed Quickbooks-compatible check paper
- Print settings: MONESQ supports voucher (one check per page) or standard (3 checks per page) check paper. To change which style of checks you use, and to calibrate alignment, click the pencil icon next to print settings:
This will produce the 'Print settings' window:
- Check type: Select voucher or standard
- Print sample: Clicking this button will bring you to the 'Print preview' screen where you can click "Print' to download a PDF for viewing or printing
- Fine tune alignment: Clicking this option will allow you to click and drag the check value grid to the desired location in the check value field, or use vertical and horizontal fine tune adjustment controls to adjust where the check value appears within the related check value box on the check. When you're finished fine tuning, click 'Save':
- IMPORTANT:
- You must use pre-printed QuickBooks-compatible check paper, which you can order from the QuickBooks website or from an authorized office supply retail outlet.
- For most laser jet printers, place the check stock face up in the paper tray. Some printers will require you to place it face down. If you are uncertain which to choose, we recommend inserting a blank piece of paper labeled “this side up” and sending a test document from Microsoft Word or similar to your printer to determine where on the page your check will print.
- Do not print your checks in MONE$Q to a blank piece of paper to test, since once you print a check number, you may not re-print it. Please print a sample by clicking on the 'print sample' link at the bottom of the 'Print checks' page. This will generate a PDF that you can view or print.
Once you are ready, click 'Continue to preview':
This will bring you to the print preview screen, where you can preview your check(s) and click 'Print' when ready.
Once you've clicked 'Print' You will be directed to a print confirmation screen asking whether your checks printed correctly:
- If your checks printed correctly, check the button next to 'Yes , they all printed correctly'.
- If you need to re-print any checks, check the button next to 'Some checks need reprinting, starting with check _____' Select the first check from the pull-down list that did not print correctly. You may then re-start the printing process (starting with that check number) after adjusting your check paper, your printer, or your alignment.
- If your checks did not print correctly and you wish to keep them in the list of checks ready to print at a later time, check the button next to 'No, keep all checks in the Print checks list'
- NOTE: Don't forget to sign your checks before sending them to the recipients
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