Transaction Ledgers - Complete Financial Visibility

View and manage the complete financial transaction history for clients and matters. Track every invoice, payment, credit, adjustment, and trust transfer with a full audit trail.

10 min Intermediate

Every dollar that flows through a client or matter gets recorded in the transaction ledger. Invoices, payments, credits, adjustments, trust transfers, retainer applications: it is all there, in order, with a running balance. When a client calls and asks about their account, you have the complete picture in front of you in seconds.

Opening the Transaction Ledger

Transaction ledgers are available at both the client level and the matter level.

Client-Level Ledger

1

Open the Client Info Window

Double-click the client in the sidebar.

2

Navigate to the Ledger Tab

Click the Ledger or Transactions tab within the Client Info Window.

The client-level ledger shows all financial transactions across every matter for that client.

Matter-Level Ledger

1

Open the Matter

Navigate to the specific matter.

2

Click the Ledger Tab

Open the Ledger or Transactions tab within the Matter window.

The matter-level ledger shows only transactions for that specific matter.

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Screenshot: Client-level transaction ledger showing a chronological list of invoices, payments, and credits

Understanding Ledger Entries

The ledger displays transactions in chronological order with a running balance. Each entry shows:

  • Date - When the transaction occurred
  • Type - Invoice, Payment, Credit, Adjustment, Trust Transfer, or Retainer Application
  • Reference - Invoice number, check number, or transaction ID
  • Description - Brief note about the transaction
  • Amount - Debits (charges) and credits (payments) in separate columns
  • Balance - Running balance after each transaction
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Screenshot: Ledger entries showing Date, Type, Reference, Description, Debit, Credit, and Balance columns

Transaction Types Explained

  • Invoice - A bill sent to the client. Increases the balance owed.
  • Payment - Money received from the client. Decreases the balance owed.
  • Credit - An amount applied to the client's account (e.g., a write-off or courtesy credit). Decreases the balance.
  • Adjustment - A manual correction to the ledger. Can increase or decrease the balance.
  • Trust Transfer - Money moved from the client's trust account to pay an invoice.
  • Retainer Application - A retainer payment applied against outstanding charges.

Filtering Transactions

For clients with long histories, filters help you zero in on what you need.

  • By type - Show only invoices, only payments, or any specific transaction type
  • By date range - Filter to a specific month, quarter, or year
  • By amount - Find transactions above or below a specific amount
  • By status - Filter invoices by paid, unpaid, or partially paid
1

Open the Filter Options

Click the filter icon or dropdown at the top of the ledger.

2

Set Your Criteria

Choose the transaction type, date range, or other criteria.

3

Apply

The ledger updates to show only matching transactions. The balance recalculates based on filtered results.

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Screenshot: Ledger with filter panel showing options for type, date range, and amount

Pro Tip

When a client questions a specific payment, filter by Payments only and sort by date. You will find it in seconds, even for clients with years of history.

Drilling Into Transaction Details

Click any transaction in the ledger to see its full details:

  • Invoice details - Opens the full invoice with all line items, time entries, and expenses
  • Payment details - Shows the payment method, date received, check number, and which invoices it was applied to
  • Credit details - Shows the reason for the credit and who authorized it
  • Trust transfer details - Shows the trust account, transfer amount, and associated invoice
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Screenshot: Invoice detail view opened from a ledger entry showing line items and payment history

You can navigate directly from the ledger to any related record. Click an invoice to open it. Click a payment to see its application. Everything is linked.

Reconciling Balances

The running balance in the ledger should match what the client owes (or what you owe the client, in the case of a credit balance). If something looks off, here is how to investigate:

1

Check the Running Balance

Scroll to the bottom of the ledger. The final balance should match the client's current outstanding amount shown elsewhere in the system.

2

Look for Unapplied Payments

If a payment was received but not applied to a specific invoice, it may show as a credit. Apply it to the correct invoice.

3

Check for Missing Transactions

If the balance seems wrong, remove all filters and review the full ledger. Look for adjustments or credits that may explain the discrepancy.

4

Make an Adjustment if Needed

If you find a genuine error, create an adjustment entry to correct the balance. Include a note explaining the reason.

Pro Tip

Run a ledger review quarterly for your largest clients. Catching discrepancies early prevents awkward conversations and keeps your books clean.

Printing and Exporting the Ledger

Sometimes you need a hard copy or a file to share. The ledger supports both:

  • Print - Print the full ledger or a filtered view. Great for client meetings or audit documentation.
  • Export - Export to CSV for use in Excel or your accounting software.
  • PDF - Generate a PDF of the ledger to attach to emails or save to your document management system.
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Screenshot: Print/export options for the transaction ledger showing Print, CSV, and PDF buttons

Keep exploring:

  • Reports - Run financial reports across all clients and matters
  • Payment Center - Track incoming payments and aging receivables
  • Trust Accounting - Manage trust accounts and IOLTA compliance

Ledger Questions? Perry Can Help.

Perry will walk you through reading ledgers, reconciling balances, and tracking down any transaction in your system.

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