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firm:sop:trust-accounting [2025/11/03 05:19] – [Withdrawals] adminfirm:sop:trust-accounting [2025/11/12 17:05] (current) – [Withdrawals] admin
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   * a scanned image of the bank draft or certified check; or   * a scanned image of the bank draft or certified check; or
   * a scanned image of the bank deposit slip signed by the teller and initialled by the person responsible for making the deposit.   * a scanned image of the bank deposit slip signed by the teller and initialled by the person responsible for making the deposit.
 +
 +If a deposit is made by e-transfer, the e-transfer confirmation e-mail must be saved to PDF and uploaded to Paperless. The filename for this PDF must be: __e-Transfer - [CLIENT NAME] - DAY-MONTH-YEAR.pdf__.
 +
 +If a wire transfer is received, the wire transfer confirmation from the sending party must be obtained and saved in Paperless.
  
 ==== Withdrawals ==== ==== Withdrawals ====
  
-Any withdrawal of funds from Cosmolex must be documented with a requisition to draw on trust funds, a copy of any relevant instrument used to draw on trust funds (i.e. a check or certified funds), and any other supporting documentation that defines the amount to be drawn or the authority under which it is drawn.+Any electronic withdrawal of funds from Cosmolex must be documented with a requisition to draw on trust funds, a copy of any relevant instrument used to draw on trust funds (i.e. an e-transfer, bank transfer, or wire transfer confirmation), and any other supporting documentation that defines the amount to be drawn or the authority under which it is drawn. 
 + 
 +If funds are drawn from trust via check, the check must be scanned, with the scanned document saved to Paperless to prove that the funds were transferred.
  
 === Requisition to draw on trust funds === === Requisition to draw on trust funds ===
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   - complete the transaction;   - complete the transaction;
   - note the electronic transfer or check details on the requisition and append PDF images or wire confirmation as necessary;   - note the electronic transfer or check details on the requisition and append PDF images or wire confirmation as necessary;
-  - combine the signed requisition with the PDF images or wire confirmation; and+  - combine the signed requisition with the PDF images or wire confirmation or, if applicable, with a copy of the invoice being paid from trust; and
   - file the combined requisition in Paperless.   - file the combined requisition in Paperless.
  
 These steps ensure that all withdrawals of trust funds can be tracked and accounted for as necessary. These steps ensure that all withdrawals of trust funds can be tracked and accounted for as necessary.
  
-If a situation arises in which a document other than a scanned check image or wire transfer confirmation is relevant to the transaction, err on the side of caution: append the document to the requisition and file in Paperless.+If a situation arises in which a document other than an e-transfer confirmation, bank transfer confirmation, or wire transfer confirmation is relevant to the transaction, err on the side of caution: append the document to the requisition and file in Paperless.
  
 ===== Monthly reconciliations ===== ===== Monthly reconciliations =====
  
  

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