{"type":"video","version":"1.0","html":"<iframe src=\"https://www.loom.com/embed/de216d4660de4353b80bdff15c104346\" frameborder=\"0\" width=\"1920\" height=\"1440\" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>","height":1440,"width":1920,"provider_name":"Loom","provider_url":"https://www.loom.com","thumbnail_height":1440,"thumbnail_width":1920,"thumbnail_url":"https://cdn.loom.com/sessions/thumbnails/de216d4660de4353b80bdff15c104346-9ff530e7743080c8.gif","duration":899.477,"title":"How to Use the Trust Liability Report","description":"This Loom explains how to use Clearing’s new Trust Liability Report to reconcile trust liabilities against connected cash balances. The report breaks liabilities by allocations up to a selected date and compares them to cash from bank accounts plus cash in transit, with the goal that net equals zero; it also notes how cash in transit works when transactions arrive in banks after the statement date but belong to bookings recognized before that date. If net is not zero, it recommends checking for extra cash, underfunding, unreconciled bookings, or bookings marked paid without corresponding journal entries, and ensuring cash payments and statement matching are recorded. For setup, you must tag trust and bank accounts with the day-before day zero balances and enter day zero based on when statements begin, ideally after reconciling at least two months of statements for accurate opening balances."}