IOLTA

Requires Configuration

This feature is customized per client. For more information, please contact your Euclid Support Analyst.

IOLTA is a process for tracking interest earned on attorney trust accounts. The interest earned must be reported to the state bar or other regulatory body. 

The scope of CV features include:

• Track a reference table of banks.

• Attach attorneys to the correct accounts.

• Track account reconciliation.

Additionally, the baseline web forms include features for:

• Firm primary contact can add or close accounts.

• Firm primary contact can add attorneys to each account.

CV IOLTA Setup

How to Add a Bank Record

To add a bank record:

1. Click “Administration” from the Main Menu Dropdowns and select “Edit Reference Tables”.

   

2. Click on the “Bank ABA Codes” Reference Table to display a list of bank records.

   

3. Click the “Add Record” button on the bottom right-hand corner of the screen to open a blank Bank ABA Codes record.

4. Fill in the BANKNAME and ABACODE fields and select the “Save” button.

Required Settings

To enable the IOLTA Accounts button under the “Membership” Main Menu Dropdown:

1. Click “Tools” from the Main Menu Dropdowns and select “Settings”.

   

2. Click the “Customize Main Menu” button.

3. Find the IOLTA Accounts button and click on the gear icon.

   

4. Make sure the button is not hidden. If the hidden checkbox is checked, un-check it to make the button visible and select “Save Changes”.

5. Click the “Save Changes to Role” button on the bottom right-hand corner.

To give users access to the IOLTA Accounts button.

1. Click on “Administration” from the Main Menu Dropdowns and select “Edit Users”.

2. Find the user you want to give IOTLA permissions to and click on the UserCD to open the User Notebook.

3. Click on the “IOLTA Access” checkbox to give the user IOLTA permissions.

   

4. Select “Save” on the bottom right-hand corner.

IOLTA Accounts Management

How to Add an Account to a Firm

1. Click “Membership” from the Main Menu Dropdowns and select “IOTLA Accounts”.

   

2. Click “Add Account” from the Activity Panel on the right-hand side of the screen. This will open a blank account notebook.

3. Fill in the following fields.

   

   • Account Number: Enter the account number.

   • Account Name: Enter the account name.

   • Owner Type: Select the appropriate radio button and click on the Search Individuals/Organizations button to open the search window of the radio button you selected. Find the firm you would like to attach the account to and click on the Select Organization button.

   • ABA Code: Select the ABA code from the dropdown.

   • Open Date: When the account was opened.

   • Close Date: When the account was closed.

4. Click the “Save” or “Save and Add Owner as Member” button on the bottom right-hand corner of the IOTLA Account notebook.

How to Close an Account

1. Click “Membership” from the Main Menu Dropdowns and select “IOTLA Accounts”.

   

2. Find the account you wish to close by searching for it in the Search for toolbar at the top of the IOTLA Accounts list.

3. Click in the row to highlight the row and select the “Close Account” button from the Activity Panel on the right-hand side.

   

4. Enter a Close Date and click “Save”.

   

5. The Close Date field will now be populated in the IOLTA Account notebook.

How to Attach an Attorney to an Account

1. Click “Membership” from the Main Menu Dropdowns and select “IOTLA Accounts”.

2. Click on the “Account Keynum” field to open the IOTLA Account notebook.

3. Click on the “Members” tab to open the list of members managing the account.

   

4. Click “Add Record” to attach an attorney.

5. Click the appropriate Member Type radio button and click the “Search Individuals/Organizations” button to open the search window.

   

6. Find the person or organization you wish to add to the account and click them from the list of results. Click on the “Select Person” button on the bottom right-hand corner.

   

7. The Active checkbox will be automatically checked. Click the “Add Member” button.

How to Detach an Attorney from an Account

1. Click “Membership” from the Main Menu Dropdowns and select “IOTLA Accounts”.

2. Click on the “Account Keynum” field to open the IOTLA Account notebook.

3. Click on the “Members” tab to open the list of members managing the account.

   

4. Click on the row of the person you wish to detach to highlight the row and select “Edit Record”.

   

5. Un-check the “Active” checkbox to make the attorney inactive.

   

6. Click “Save” on the bottom right-hand corner.

Individual/Organization Notebook IOTLA Accounts Tab

To find a list of IOTLA Accounts in an Individual/Organization notebook:

1. Click “Membership” from the Main Menu Dropdowns and either select the “Individuals” or “Organizations” button to search for the individual or organization you wish to find.

2. Find the individual or organization and open the notebook.

3. Click on the “IOTLA Accounts” tabs to open a list of accounts.

   

IOTLA Reconciliation

Review current IOTLA Data

1. Click “Membership” from the Main Menu Dropdowns and select “IOTLA Accounts”.

   

2. Find the account you wish to open by searching for it in the Search for toolbar at the top of the IOTLA Accounts list.

3. Click the “Account Keynum” to open the IOLTA notebook.

4. Click on the “History” tab to review current IOLTA data.

   

How to Edit IOTLA Data

1. Click “Membership” from the Main Menu Dropdowns and select “IOTLA Accounts”.

   

2. Find the account you wish to open by searching for it in the “Search for” toolbar at the top of the IOTLA Accounts list.

3. Click the “Account Keynum” to open the IOLTA notebook.

4. Click on the “History” tab to edit the IOLTA data.

   

5. Click on the row to highlight the row and select “Edit Record”.

   

6. This will open the details window. You can edit information and select the “Save” button to save and close.

Bulk Import

1. From the IOLTA Accounts List, click on the “Import History” button from the Activity Panel on the right-hand side.

   

2. Click the “Browse” button to find the file you wish to import. Below is a list explaining the following buttons:

   • “Process Run Number” – when you load an import file, the system assigns a new “process run number” which is used for logging purposes. All files that have ever been loaded are logged in a table called IOLTA_CVONLINE_RUNNUMS, and all detailed data from the files is logged in a table called IOLTA_CVONLINE_IMPORTLOG. 

   • “Validate Records” – when you click “Validate Records,” the system runs several checks on the data from the CSV file, and displays a validation result in the grid of data. The checks are: 

     • System checks that “acctkeynum” or full “acctnum” were provided, and match to a single account in the system.

     • If both “acctkeynum” and “acctnum” provided system checks that they match the same account.

     • If “abacode” provided, system checks that it corresponds to the matched account.

     • If “ownertypecd” and “ownercd” provided, system checks that the owner corresponds to the matched account.

   • “Process Records” – the system runs the same checks noted under “Validate Records,” and then processes the data into the IOLTA History table. 

3. Below is a list of file requirements.

   • Format must be CSV.

   • Field names must match names noted in the table below.

   • Fields may be in any order.

   • Non-required fields may be omitted. 

   • Best practice to use the “acctkeynum” field to identify the account, instead of the “acctnum” which is a sensitive data point since it is the actual bank account number; furthermore, it is recommended to include at least one of the following to ensure the history entry is linked to the correct account:

     • “acctnum” last 4 digits

     • “ownercd” and “ownertypecd”

     • “abacode”

Field	Description
acctkeynum	ClearVantage unique identifier for the account; required unless the full “acctnum” is provided
acctnum	Bank account number; not required, unless you are not providing “acctkeynum,” in which case the full “acctnum” should be provided
abacode	9-digit bank ABA code; not required
acctdate	Date of historical entry; not required, system will use today’s date if not provided
acctbalance	Account balance as of “acctdate”
interestrate	Interest rate as of “acctdate,” should be formatted like “1.35” for 1.35%
interestaccrued	Interest accrued as of “acctdate”
servicefee	Service fee charged as of “acctdate”
ownertypecd	Letter “I” or “O”, indicating whether the account is owned by an Individual or Organization; not required
ownercd	Depending on “ownertypecd,” corresponds to the CUSTOMERCD or ORGCD

1. To provide each bank the “acctkeynum” for the accounts they hold: 

   • Navigate to IOLTA Accounts screen.

   • Query the list of accounts for a specific bank. 

   • Use the “Export” activity button in the Activities panel on the right-hand side. 

   

   • This will generate an Excel file that you can send the bank. It will display the masked account number instead of the full account number and will include the “acctkeynum” that the bank can use to send you reconciliation history for importing.

IOLTA Field Mapping

Banks; table = BANKABACODEREF 

Column	Description
ABACODE	Unique ABA code for the bank
BANKNAME	Free-text name of the bank

Accounts; table = IOLTA_ACCT_MASTER 

Column	Description
ACCTKEYNUM	Database unique identifier for each account
IOLTA_ACCT_NUM	Bank account number
OWNERTYPECD	Is the account owned by an organization (“O”) or individual (“I”)?
OWNERCD	Corresponds to the ORGCD or CUSTOMERCD of the account owner
ABACODE	Link to the bank in BANKABACODEREF
OPENDATE	Date the account was opened
CLOSEDATE	Date the account was closed
ENTERTMS	Timestamp when the account was entered into ClearVantage
ENTERUSERCD	Staff user that entered the account into ClearVantage
UPDATETMS	Timestamp when account was most recently edited in ClearVantage
UPDATEUSERCD	Staff user that made the most recent edit to the account in ClearVantage

Accounts-Attorney Relationships; table = IOLTA_ACCT_MEMBER 

Column	Description
KEYNUM	Database unique identifier for the relationship between the specific attorney and specific account
ACCTKEYNUM	Link to the account record in IOLTA_ACCT_MASTER
MEMBERTYPECD	Is the relationship with an individual attorney (“I”) or a firm (“O”)
MEMBERCD	Corresponds to CUSTOMERCD or ORGCD
ADDEDACCTTMS	Timestamp for when the relationship was entered in ClearVantage
ISACTIVEFLG	Y/N is the account active

Account Reconciliation History 

Column	Description
KEYNUM	Database unique identifier for reconciliation entry
ACCTKEYNUM	Link to the account record in IOLTA_ACCT_MASTER
ACCTDATE	Timestamp for when the reconciliation entry was recorded in ClearVantage
ACCTBALANCE	Account balance as of the timestamp
INTERESTRATE	Interest rate as of the timestamp
INTERESTACCRUED	Interest accrued as of the timestamp
SERVICEFEE	Service fee charged if applicable