End of Month Procedure

End of Month Procedure - LEAP Web

Feb 6, 2025
Knowledge

How To

We recommend that you complete an end of month procedure for each trust account.

During this procedure, you'll need to reconcile your trust account and generate a series of reports to meet your trust accounting regulations.

About the End of Month Reports

The reports to be generated fall under two categories:

General Trust End of Month

Trust Audit Report
Separate Interest Bearing Accounts List of Accounts Report

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The Audit Trail report will contain many pages when you run your first trust end of month. This is due to a large number of matters that have been added or modified in LEAP.

Account Trust End of Month

Trust Overdrawn Report
Trust Trial Balance Report
Trust Account Journals Report
Trust Account Payments Paid Cashbook
Trust Account Payments Received Cashbook

Generating the End of Month Reports

To generate the trust end of month reports, from LEAP Web:

Click on the app launcher and select Reports.

The LEAP Reports window opens in your default browser.
Hover over Trust > Trust End of Month and follow the steps below to generate the required reports.
General End of Month Reports:
1. Click General EOM. The General Trust End of Month window opens.
2. Ensuring that the month ending date is the last month you generated the General Trust End of Month reports, click Run EOM.
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Tick Signed and reviewed by and make your selection from the drop-down list to place the date and name of the reviewer on the produced reports.
1. To view the report, click on each report name listed on the screen after the EOM reports are produced.
2. To print the report, open the report and click the printer icon.
Account End of Month Reports:
1. Click Account EOM. The Account Trust End of Month window opens in your default browser.
2. Select your Bank Account Name from the drop-down list.
3. Ensuring that the month ending date is the last month you produced the Account Trust End of Month reports, click Run EOM.
Click to edit heading

Tick Signed and reviewed by and make your selection from the drop-down list. to place the date and name of the reviewer on the produced reports.
1. To view the report, click on each report listed on the screen after the EOM reports are produced.
2. To print the report, open the report and click the printer icon at the top right-hand corner of the window.
Your trust end of month procedure is complete once you’ve reconciled your trust account and generated the trust end of month reports.

Printing the End of Month Reports

LEAP records a copy of each report once they are generated. However, we recommend that you print each report and store them securely for ready access as most regulators will require you to retain a printed copy of all end of month reports.

All but two of the reports (The Controlled Money Listing of reports and the Trust Trial Balance report) print with continuous numbering meaning that the page numbering continues from one month to the next.

For example, in the first month, the Trust Audit Trail report will have pages 1, 2 and 3, and in the following month, the Audit Trail report will have pages 4, 5, 6 and 7.

Refer to the Bar Association in your local jurisdiction for more information about the end of month procedure for trust accounts.

Accessing Previous Trust End of Month Reports

Previous end of month reports are always available for you to access in LEAP.

To access previous end of month reports:

Click on the app launcher select Reports. The LEAP Reports window opens in your default browser.
Hover over Trust > Trust End of Month.
Click View Previous Trust EOMs. The Previous Trust End of Month Reports window opens.
Expand the Trust End of Months Reports list to find the specific report you need to access.
Click on a report name to view and print it.

Last Modified Date

2/6/2025 12:09 AM

Title

End of Month Procedure - LEAP Web

URL Name

End-of-month-procedure-for-LEAP-Web-US

Resolution