What Is the Difference Between Operating and Trust Retainers?

What Is the Difference Between Operating and Trust Retainers?

A Trust Retainer is money that is given to the firm that needs to go into a separate escrow account where the firm has no access to it. However, an operating account is money that is given to the firm that can be used by the firm on payment. 

Once you follow the instruction for adding a new retainer the difference between making an operating and trust retainer in Zola Suite is the bank account that the payment goes to. If the money goes to the trust account then it would be considered a trust retainer and if the money is deposited to an operating account the retainer would be an operating retainer.

Have in mind that you have the ability to transfer the money from a trust account to an operating account once the trust retainer payment is applied to an invoice. Additionally, via the invoice customization section in the firm settings you can add the balances that the matter has for trust retainers and operating retainers
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