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| Note: when you perform a transfer of any kind within trust accounting , two separate entries are created. In the case of a transfer from/to the Firm's interest in trust account, it will involve the Trust Transfers holding account. What this entails is that when the transaction will flow through the trust transfers account so you can see this in the general ledger. When reversing a transaction involving the Firm's interest in trust, two reversals will have to be made: one for the Trust/Transfer accounts, and one for the Current/Transfer accounts. |
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