For a new Default Operating Account:

Once you have created your new operating account and associated it with the new bank that you have set up in Orion, you will need to go into Accounts Payable and cut a check to transfer the funds that you want to move into the new operating account.

You may do this by creating vouchers payable out of the “old bank” using the old bank code, and, then put in your distribution line (the debit side) the GL operating account for the “new bank.”   Pay the Voucher. This will take care of the General Ledger transactions (the transactions would be a Credit to the “old bank” operating account and a Debit to the “new bank” operating account). It will also take care of placing an “outgoing” check in Bank Reconciliation for you.  Deposit the check into the new bank.  Go into Bank Reconciliation and create the deposit into the “new bank” using a DEP code.

For retainer deposits, Orion assumes the funds will be available to be disbursed from the default operating account designated in your AR System Settings. It is not necessary to do individual RDSs and RDPs for Retainer funds to transfer them for each Client-Matter since the system assumes those funds will be disbursed from the default operating account and it is NOT dependent on Bank Code and the Client-Matter Retainer Ledger report does not present the retainer bank code on it. Simply transferring the full amount needed in the operating account, via the methods mentioned above, will take care of this process. The retainer balances are stored at the Client-Matter level, and the system will maintain this amount regardless of which operating bank account is being used to disburse the retainer funds.

Note that transferring retainer funds are handled differently than the way trust funds must be transferred. See the article entitled Transfer Funds From One Bank to Another – Trust Funds.