Maximum amount of 99,999,999.99. The Fund Balance cannot have a negative balance. The value of this field is the current Client Funds balance.

An amount can be entered in this field only when adding a new client. Once a client is saved, this field is dimmed and becomes "Read Only" and cannot be edited. Any changes to the balance must be made by entering client funds transactions (deposits, withdrawals or payments to firm) so that an audit trail is maintained. This is done using the Client Funds program.

Enter an amount in this field when you are setting up a new client and you have already received funds from the client. If an amount is entered in this field, a deposit transaction is automatically created and posted to the client funds file. This automatically created transaction has the description "Initial Deposit" and may be edited as desired. The date of the deposit transaction is the same as the Date Opened for the client. This initial deposit transaction is not saved to the optional Client Funds Verification List.

The "<" and ">" keys can be used to increase or decrease the amount by one dollar at a time.

GLS Integration Note: If a Fund Balance greater than zero is specified for a new client, and Tabs3 is configured to integrate client funds transactions with GLS, a message will be displayed. A deposit of the Fund Balance will be entered in client funds, but no GLS journal entries will be created. Manual journal entries may be necessary.

See also:   Client Funds Overview