Frequently Asked Questions

Q: Do you support a web-enabled version whereby multiple offices can logon via the internet to access a common application?
Do you support a web-enabled version whereby multiple offices can logon via the internet to access a common application?

A: No, not at this time.

Q: How do I renew my license?
I tried to do my first renewal but could not log in. I needed a password and the product key code. Help?

A: Go to the "user login" selection found on the main page of the website. On the Login screen, go to "first time?" to set a password. When asked for an email address, use the email address that we have on file.

After your password is set you will be sent to "My Account". Review the contact information that is listed there and make any needed changes.

Then click on "My Subscriptions" to view your license status. You will find there a link to the renew area.

The Product Code is found on the "About TotalTrust" screen of the application's Help Menu. Its is a 19 digit code.

Q: Is TotalTrust available on CD?
Is TotalTrust available on CD?

A: No, the latest version is always available for download on the website at http://www.exhibitonesoftware.com/download.htm.

Q: How is TotalTrust installed on multiple workstations?
I purchased a multiple user license and downloaded the installation file to a local workstation. How do I install TotalTrust on other workstations?

A: There are two ways to install on multiple workstations.

You can copy or move your one copy of the installation file (named setup.exe) to a network drive and run setup.exe from each local workstation by accessing the network location.

Or, you can download setup.exe directly from the website to each local workstation. Then run the installation program at each local workstation.

Q: What is the best way to record a capital gain dividend?
What is the best way to record a capital gain dividend?

A: Go to the Cash Receipts form. Select "Other - Principal" in the Classify As drop down field. In the Asset/Account (Credit) fields, select Category: "Principal Receipts" and Name: "Principal Dividends". Enter the amount of the dividend in the amount field.

For most reports, the description of the transaction should include the name of the stock that paid the dividend. For example, "Received capital gain dividend from ABC Corp."

Q: How can I eliminate a negative principal cash balance?
One of my bank accounts shows a negative balance in principal. My overall principal cash is positive. What can I do to eliminate this negative balance?

A: If you have more than one bank/money market account with overall positive principal cash balance and want to clean up a negative principal cash balance in one of them, go to CD and make the following two entries:

One:

Classify as: Asset Purchased - Principal

Debit Principal Cash - Negative balance account for the total amount of ther overdraft.
Credit Principal Cash - another account with sufficient principle funds to cover the negative balance.

Two:

Classify as: Asset Purchased - Income

Debit Income Cash - the same other bank with sufficient funds from the above line.
Credit Income Cash - Negative balance account for the total amount of the overdraft.

The same can be achieved for a negative income cash balance. Just reverse the process.

Q: How do I edit or delete an account name?
I have set-up an income account under the Income Receipts category. How do I edit or delete the account name?

A: Account names for Initial and Supplemental Inventory assets can be edited in the Initial/Supplemental Inventory Form or the Accounts Editor Form. Both of these forms are found on the Accounts Menu. Accounts added later, such as those added during transactions recording, and income and expense accounts are edited in the Accounts Editor.

Q: How does the "Pay as You Go" purchase option work?
Would you please explain the "Pay as You Go" purchase option?

A: "Pay as You Go" is for those who wish to spread the license fee over a period of time.

You pay $199 per year for an annual license. This fee includes the annual $99 renewal fee. Unlike the regular license, your Key expires at the end of each year. After three renewals you may upgrade your registration to a regular non-expiring license.

After 3 years, you will have paid a total of $597. If you then choose to upgrade to, for example, a three user license for $60, the total is $657. Compare this to an initial purchase of a regular single user license for $349 plus three renewals of $99 or $646.

After three years of "Pay as You Go", you are in about the same place as you would have been, but you have spread the payments over three years.

Q: When do I enter a new Key?
I am using the 30-day trial version of the program. At program launch a dialog appears that asks if I want to enter a new Key. What do I do?

A: The trial version has a built-in Temporary Key that allows prospective licensees to use the program free for the first thirty days. There is no need to enter a Key during that period.

When you purchase a license, you are issued a Permanent Key. It is at this time that you will enter the new Key.

So, when the program asks if you want to enter a new Key and you have not been issued a Permanent Key, then respond 'No'.

Q: How do you enter the Personal Representative's attorney on the Personal Representative Attestation form?
We are preparing an accounting for an estate in Florida.

How do you enter the Personal Representative's attorney on the Personal Representative Attestation form? I am unable to locate any place to input the information, i.e. name and address so it can print on the form.

A: Go to Settings on the File menu. Enter the attorney information under Contact Person.

The Attorney Florida Bar Number, which is specific to Florida reports, is found by going to Reports/Florida Reports/Header Data.

Q: How do I show cash transfers between income and principal as receipts and disbursements?
Transfers between principal and income of a checking account and a money market account are shown as the "Gains and Losses on Sales or Other Dispositions" report. I would rather see cash transfers shown as Cash Receipts and Cash Disbursements. Is there a way to do this?

A: The classification of cash transfers may be handled by using normal receipts and expense accounts. Set up a principal income account called "Transfers from Income" and an income expense account called "Transfers to Principal" (reverse for transfers to income). Use CR and CD instead of NC. This will classify the cash transfer as receipts and disbursements.

Q: How do I record a sale real estate from a closing statement?
Could you guide me through recording a sale of real property?

Specifically, how to record item such as note payoffs, closing costs, and taxes deducted from the selling price.

A: Break the transaction into its components.

Use the CR, Classify As = Sale/Maturity/Redemption, to record the gain by posting the proceeds, net of closing costs, and the credit to asset cost. You can detail the closing costs information in the description.

Use the CD/Payment of Liability for the the note payoff.

Use the CD/Expense Paid for taxes and other expenses.

With the possible exception of some of the expenses, these transactions would normally be classified as Principal.

The combined effect of these entries on cash will equal the amount received (or paid) per the closing statement.

Q: Should I close the books?
Please confirm

---that the "close out" of the previous year's accounting deletes all transactions for further use, when starting on the next accounting period

--that if we "save" a backup copy under a new name in the Total Trust program, then transactions can be edited in the saved copy

--that editing the "saved" copy will effect the current "working" accounting, which may then have to be deleted and started over after "close out" of the revised "saved" copy

A: "Closing the books" does indeed delete all transactions in the closed period. The process results in a zeroing out of the P&L accounts and changes to the beginning balances of balance sheet accounts.

It is customary to make a copy of the current file before closing the books. It is not recommended that the books be closed until you are absolutely certain that no more changes will be needed for the closed out period.

While changes can be made to the file that contains the closed out transactions (backup copy), those changes do not carry to the current file (working file). If an adjustment is required to a close period after the books are closed, the adjustment must be made in the current "working" accounting period.

The system allows you to report on a annual basis without closing the books by using the reporting period dates to control the reports. For the accounts that I do on an annual basis, I wait until the tax return is completed before I close the books, when I know that no more changes can be made to that period. After the tax return is filed, I know that the file is final and I can now close the books.

Q: Check for Update problem
I clicked on the "Check for Update" selection on the Help menu within the program and received an error message that the server connection failed. How do I get the update?

A: You can obtain the current version of the program from the website. The Download page on the website always has the most recent version of the program available for download.

Q: How to Record Capital Gain Dividends
How do I record mutual fund distributions of short term and long term capital gains. In my case, they are not being used to purchase more shares/units of the funds. They are being paid out. I’d prefer to have a category than group with other dividends.

A: Short and long term capital gain dividends are usually considered Principal. Use CR/Other - Principal/Principal Receipts/Principal Dividends to record.

Unlike Income Receipts, Principal Receipts are reported chronologically and are not listed by producing assets. Therefore, you will want to identify the producing asset in the transaction description.

Q: Changing an Account Classification
If an asset is set up incorrectly, say, for example, it is set up as common stock, but, it is actually a preferred stock, is there a way to change the classification without entering it again and changing all of the transactions that reference it?

A: You must create a new account in the desired classification and manually change all transaction references from the old account to the new account.

Q: Initial Date Setting
I am doing an accounting for the calendar year 2009, but I keep getting the following error message... “Date 01/01/2009 is prior the period begin date. Enter a date that is on or after 11/20/2009." Is this a set up problem?

A: Go to Settings on the File menu and confirm that the Dates there are proper. The "Date of First Day of this Reporting Period" should be no later than 1/1/09 if you are reporting on calender 2009.

Q: Why is cash affected when recording reinvestment of dividend?
Why is cash affected when recording reinvestment of dividend?

A: When you record a dividend reinvestment by selecting classification "Income reinvestment - Principal" and then give the dividend to Income by selecting "Income Receipts" as the Credit Account, this is the entry that TotaTrust makes:

Debit Principal Asset
Credit Income Receipt

Principal now owes Income for the stock it received and Income has no cash to pay the income beneficiary.

So TotalTrust adds:

Debit Income Cash
Credit Principal Cash

There is a transfer of cash principal to income but overall cash remains unchanged.

If you were to record the same dividend reinvestment and select "Income reinvestment - Principal and give the dividend to Principal by selecting "Principal Receipts" as the credit account, the entry would be as follows:

Debit Principal Asset
Credit Principal Receipt

No cash transfer performed or needed.

Q: Will I be able to edit the prior year transactions after closing the books?
I have three years worth of accountings to prepare for a trust. Once I close the accounting period to go to the next year, will I be able to edit the prior year if necessary?

A: Once you close the books, the transactions in the closed year are gone. You should first save the file under a different filename (like a backup), then close the books in your working file. After doing this the result is a backup file with transactions say through 12/31/02 and a working file with transactions from 1/1/03 to some future date.

Q: How do I record a stock spin-off?
I have a stock that has issued some shares in another company. I paid nothing for the new shares. How do I allocate some of the basis of the original stock to the new shares?

A: Go to the General Journal Form.

First, record a debit(positive amount) for the new shares. When recording the debit create a new account for the new asset, enter the number of new shares received, and enter an amount for the allocated basis. When the debit is complete click Accept.

Next, record the credit(negative amount) for the basis allocation. When recording the credit, navigate to and select the original stock asset and enter the allocated basis amount as a negative. Since the number of shares held in the original stock asset does not change, ignore the units fields. The units fields must be empty for this basis allocation to work properly. Do not enter zero units. When the credit is complete click Accept.

Click Done.

Q: How do I record stock option transactions?
We have a trust account that has sold stock options during the year, bought them back and had some expire. I am trying to figure out the best way to handle so they will be reported on the right schedules. Any suggestions?

A: Puts and calls do not have specific handling in the program. For TotalTrust, these transactions should be rare since options are not considered prudent investments for a fiduciary.

First, handle the initial proceeds as a negative in the Cash Disbursements Journal. Classify the transaction as "Asset Purchased". When creating the new asset account, you may classify as "Other Asset" rather than "Common Stock" to avoid inputing negative units/unit value.

Second, record the subsequent expiration as a negative in the Cash Receipts Journal. Classify as a sale. This will force recognition of the gain or loss at the time of expiration.

Q: I am having rounding problems.
I've experienced some difficulty with rounding when entering securities purchase transactions. I enter the units and unit value using the four allowed decimal places and the calculated cash does not agree with the actual cash disbursed. It is off by pennies.

A: Enter the cash amount and the units. The system will calculate the unit value.

Q: Program Crash and Loss of Data
The program crashed after inputting transactions. Can I restore any of that data?

A: If the program crashes, all data since the last save will be lost.

Make sure you have enabled the Save Reminder option found on the Help menu. It will alert you every 15 minutes that a Save may be needed.

Saving frequently is strongly recommended.