If your bank credits interest to your trust account balance and it is shown on your statement, then tracking this interest in MyCase also ensures that you can properly reconcile your account statements.

Set up Trust (IOLTA) Interest Tracking
​Record an IOLTA Interest Deposit
​Record an IOLTA Interest Withdrawal ​​​​​​​

To set up trust interest tracking:
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1. All trust account funds must be attributed to a client.
2. Create a contact to track Trust (IOLTA) interest transactions.
3. Select Individual

4. We recommend naming the contact Trust Interest or IOLTA Interest so you can quickly identify this contact and understand its purpose.

NOTE: If you have multiple trust accounts, we recommend creating and associating a contact with each account, naming the Trust (IOLTA) Interest - Bank Name.

When you receive interest in your Trust (IOLTA) account, your firm will want to record that interest deposit under its corresponding Trust (IOLTA) interest contact for accounting purposes.
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To record your Trust interest deposit:
1. Navigate to the appropriate Trust (IOLTA) Interest contact within MyCase.

2. Select the Billing sub-tab.
3. Choose Deposit into Trust in the upper right-hand corner of the screen.

4. Select the appropriate account and choose the unallocated option.

5. Enter all details associated with the deposit like Method (Other), Date, & Amount.
6. In the Notes field, we recommend entering "Trust (IOLTA) Interest Deposit."

7. Finally, select the option to Deposit Funds.
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The contact trust history screen now displays your Trust (IOLTA) Interest deposit, including details like Amount & Balance.

When you are ready to withdrawal interest, you will record that withdrawal in your associated interest contact.
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To record a Trust (IOLTA) interest withdrawal:
1. Navigate to the appropriate Trust (IOLTA) Interest contact within MyCase.
2. Select the Billing sub-tab.
3. Choose the action button for Withdraw from Trust on the upper right-hand corner of the screen.

4. Select the appropriate account.
5. Enter all details associated with the deposit such as date and amount.
6. In the Notes field we recommend entering "Trust (IOLTA) Interest Withdrawal."
7. Finally, select the option to Withdraw.
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NOTE: MyCase will not allow you to withdraw funds greater than the current balance for that contact.

The contact trust history screen now displays your Trust (IOLTA) Interest withdrawal, including details like amount and balance.

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