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Bank Account Balances and Activity in Soluno

Bank Account Balances and Activity in Soluno
Bank Account Balances and Activity in Soluno
Written by
Paul W Carlson, CPA
Published on
Dec 13, 2023

Paul W. Carlson, CPA (00:00):

Hi, this is Paul Carlson, CPA with Law Firm Velocity. Inthis video, we're talking about how to check current bank and credit cardbalances within Soluno.


Soluno is a law firm accounting system, and if the recordsare updated regularly, managing partners can log in themselves and checkcurrent cash balances.


To see those balances, you think you'd go to the big iconwith the dollar sign on it, but they're just fooling you, that you shouldreally go over to financials, run the balance sheet, three column is good, fortoday's date. If it's blank, hit the play button to load. If the refresh iconis up here, go ahead and hit refresh to bring up current balances. Here we cansee the current bank account balances.


I am in a sample data file that I have seriously broken acouple of things, so we can see that the owner access account is overdrawn. Theprimary operating account has 30 grand. The trust account has $112,000.


For right now, the credit cards within Soluno would appearas bank accounts with negative balances. In the future, they're going to showup down here as short-term liabilities with normal balances.


Now we see that the operating account has $29,000 in it.Next question usually, well, what's going on that the account balance is that?A simplistic version is you can click this drill down icon, and it will bringup a report. It's showing all activity from January through today. We can seethe activity.


If people have been adding descriptions or memos totransactions, we can see the descriptions. But what we can see is there's nocolumn for contacts or vendors, that if you want more of a stronger report thatlists more detail on every transaction, that then we can go to views andreports, banking, operating account. Then we look at the operating bankjournal. It's going to show all the history. Set your dates, select the accountyou want to see the detail on, and hit the play button.


From here we can see all of the activity for the history.So here we have [inaudible 00:02:25] Let's just look at a transaction. So herewe have a hard cost payment that it was paid on March 6th. The vendor wasTrinity Health Center. It was coded to hard costs. It went to file 1007. It was25 bucks. After the payment was made, the operating account was overdrawn by 22grand. Again, sample data so things get weird.


With that, it's a quick overview of how firm owners canlog in to Soluno and directly check their bank account balances.


Thanks. Bye-bye.