Interest Bearing Deposits (IBD) App User Guide

8/08/2025
Knowledge

How To

The Interest Bearing Deposits (IBD) app simplifies and automates the management of trust and IBD account transactions within LEAP. Designed to save time and reduce errors, this app ensures accurate financial record-keeping with features that streamline complex processes. Users can effortlessly import bulk interest transactions, minimizing manual data entry and significantly reducing keystroke errors.

Additionally, the app automatically calculates and allocates administrative fees based on preset rates, eliminating the need for manual adjustments. By automating these essential tasks, the IBD App enhances efficiency, improves accuracy, and provides a seamless way to manage trust and IBD entries.

Enabling the App

The Interest Bearing Deposits App needs to be enabled from Marketplace.

Follow the steps below:

Click the LEAP Menu > Marketplace.

The App Marketplace will open in a new window.
Search for Interest Bearing Deposits.
Click Enable.

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All users needing access to the app will need to enable the app. Only users who have access to Trust Funds in Application Settings will have access to the app.

Interest Bearing Deposits App Settings

To ensure the app calculates and processes the correct interest admin fees, configure the necessary settings before using the app.

To set up the IBD app settings:

Click the LEAP Menu > Accounting > Interest Bearing Deposits.

The Interest Bearing Deposits screen will open in a new window.
Click the Settings icon in the top right of the window.

The Interest settings window will appear.
Complete the IBD Admin Fee percentage.

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If the firm charges a commission or an admin fee for the interest earned, enter the admin fee rate under IBD Admin Fee. If the firm does not charge an admin fee, set this field to 0.
Admin Fee Processing Account - If the firm’s admin fees are receipted into the Trust Account, choose Trust Account. If the admin fees are receipted into the Office Account, choose Office Account.
Admin Fee Matter - If the firm journals all their admin fees to a particular matter, enter the matter number under Admin Fee Matter. If the firm does not use an admin fee matter, leave the field blank.

Creating Transactions

IBD Deposit Transaction - Trust to IBD Transfer

When processing IBD deposit transactions, a payment will be recorded in Trust, along with a corresponding deposit in the IBD ledger.

From the LEAP Matter List > Search for the matter you wish to work on.

Double click to open the matter.
From the matter toolbar, click on the Trust Funds tab and go to Interest Bearing Deposit Accounts tab on the left of the window.
Click the dropdown arrow to the right of Interest Bearing Deposits on the toolbar and click on Trust to IBD Transfer.

This will open the IBD app Trust to IBD Transfer screen with the matter details pre-populated.
If the transaction is for a date other than the current date, change the Transaction Date at the top left of the screen.
Check the Trust Account on the top right. This shows the default trust account set in the system.

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If the transaction is to be posted to a different trust account, click on Transaction at the top left of the window to take you to the main app screen. From here, choose the corresponding trust account and click Next.
Enter a Reason for the transfer.
Enter the Amount.
Click Save & Close.

IBD Withdrawal Transaction - IBD to Trust Transfer

When processing IBD withdrawal transactions, a withdrawal will be recorded in the IBD ledger, along with a corresponding receipt in Trust.

To create an IBD withdrawal transaction for a matter:

From the LEAP Matter List > Search for the matter you wish to work on.

Double click to open the matter.
From the matter toolbar, click on the Trust Funds tab and go to Interest Bearing Deposit Accounts tab on the left of the window.
Click the dropdown arrow to the right of Interest Bearing Deposits on the toolbar and click on IBD to Trust Transfer.

This will open the IBD app IBD to Trust Transfer screen with the matter details pre-populated.

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If the transaction is for a date other than the current date, change the Transaction Date at the top left of the screen.
Check the Trust Account on the top right. This shows the default trust account set in the system.

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If the transaction is to be posted to a different trust account, click on Transaction at the top left of the window to take you to the main app screen. From here, choose the corresponding trust account and click Next.
Enter a Reason for the transfer.
Enter the Amount.
Click Save & Close.

IBD Interest Transaction

When processing IBD interest transactions, the gross interest, withholding tax, and admin fee will be recorded in the IBD ledger. Additionally, a corresponding receipt in trust will be posted for the admin fee.

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If the firm utilises an Admin Fee Matter and the Admin Fee Matter field in Settings is completed, a journal entry for the admin fee will also be posted into the Admin Fee Matter.
If the firm has chosen the Office Account for their Admin Fee Processing Account in Settings, only the gross interest, withholding tax, and admin fee will be recorded in the IBD ledger.

To create an IBD interest transaction for a matter:

From the LEAP Matter List > Search for the matter you wish to work on.

Double click to open the matter.
From the matter toolbar, click on the Trust Funds tab and go to Interest Bearing Deposit Accounts tab on the left of the window.
Click on the dropdown arrow to the right of Interest Bearing Deposits on the toolbar and click on Interest.

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If the transaction is for a date other than the current date, change the Transaction Date at the top left of the screen.
Enter the Gross Interest and the Withholding Tax amounts.

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The Admin Fee will be auto-calculated from the Gross Interest amount provided and the IBD Admin Fee rate configured in Settings.
Click Save & Close.

Processing IBD Quarterly Interest Files

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The IBD app is able to process CSV import files from these banks: ANZ, ASB, BNZ, and Westpac. If you are with a different bank and you would like to be able to use the app, please log a call with the Support Team for this.

The IBD app has the functionality to process IBD quarterly interest files.

To process quarterly interest files:

Click the LEAP Menu > Accounting > Interest Bearing Deposits.

The Interest Bearing Deposits screen will open in a new window.
Choose Interest under Transaction Type.
Choose the corresponding Trust Account.
Click on Next.
Click on the Import Interest File button at the bottom left of the screen.

A window will pop up to choose a file.
Choose and click on the interest file to be processed.
Check imported data.

Check the Transaction Date. This date is taken from the import file. If the transactions are to be posted with a different transaction date, update the Transaction Date.

If there are matters where the admin fees are to be charged at a different rate, go to the Admin Fee column and update the amount.

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If there matters where having multiple IBD accounts, check that the correct IBD account is chosen. Matters with multiple IBD accounts will be shaded white and will have a dropdown arrow on them.

Once all data have been verified, click Save.
If there are matters with multiple IBD accounts, a message similar to below will pop-up after clicking Save, listing matters having multiple IBD accounts. Check the matters indicated and ensure the correct IBD account is chosen.

The saving process may take a few minutes, depending on the number of transactions. An orange progress bar at the bottom of the window will indicate the progress. The window can be minimized, allowing users to continue working in other LEAP windows while the process runs in the background.
A notification will appear confirming that all transactions have been successfully saved once the process is complete.

Since the quarterly interest process is a bulk transaction, only one trust receipt will be generated for reconciliation, reflecting the total Admin Fee processed.

Last Modified Date

8/08/2025 6:52 pm

Title

Interest Bearing Deposits (IBD) App User Guide

URL Name

Interest-Bearing-Deposits-NZ

Resolution