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Recording Interest

This will walk you through the steps on how to properly record interest in PantherAccounting Plus.

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Written by Marie Burgess
Updated today

Interest Deposits

  1. Create a Contact called IOLTA Interest.

    • From the white New button click Contact.
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  2. Specify a Company Contact with a name of ILOTA Interest and click Save.
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  3. When interest is deposited into your bank account, enter that amount as a new contact payment (deposit) using this IOLTA Interest contact.

    • You can do this by creating a new contact payment from the white New button.

  4. Select IOLTA Interest as the Contact and click Next.
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  5. Select Add a Retainer and Add a Payment.
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  6. On this page enter the Amount, specify the appropriate Trust bank account, enter the Date and specify Notes to reference the interest deposit.
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  7. Click Add Retainer.

Interest Withdrawals

  1. When the interest comes out of your bank account you will process this as a withdrawal payment from the Contact IOLTA Interest.

    • You can do this by creating a new contact payment (withdrawal) from the white New button.
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  2. Select IOLTA Interest as the Contact and click Next.

  3. Select Withdrawal.
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  4. On this page enter the Amount, specify the appropriate Trust bank account, enter the Date and specify Notes to reference the interest withdrawal.
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  5. Click Save.

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