Rules:
- Mistakes – if not reconciled or batched you can delete
- Reconciled – will need to journal
- Not yet banked – you can reverse
- Multipart, incorrect for one part – journal that part
- Narration can be edited at any time
- You can also apply a receipt to an account rendered balance later, by opening the receipt from the matter trust view and select the ‘Apply to AR’ button.
To post a single part receipt:
- From the ‘Home’ tab click ‘Trust Receipt’
- Client – type in the client number or search for the client by name
- Matter – type in the number or select from the magnifying glass
- Date - select the date or tick ‘Use today’s date’
- Reference - always leave blank for the auto receipting system to allocate number
- Amount – add the amount
- Place a tick in the box if the receipt requires further attention by way of a Red Flag
- Place a tick in the box if the funds have been received from an international source
- Funds type - select from drop down Electronic, EFTPOS, Credit Card or Cash
- From - if the funds are from the client, tab over the field and the client will be selected. If from another party, you need to search by typing in their name or create a new non-client party
- Narration – type in narration or select F4 to insert stored narration
- Put a tick in the box if you have authority from your client to use these funds for costs
- Managed Docs – use the green plus to search for and attach documents relevant to the receipt
- Tick ‘Print after saving’ if you want to print a copy of the receipt to email or post
If there is an outstanding invoice/s, on saving you will be asked ‘Do you want to apply this credit to an account rendered?’ if ‘Yes’ is selected the apply credit to account rendered screen will open.
The amount is the total value of the receipt.
Available amount indicates how much of the receipt balance is left to be used.
In this example the full A/R amount has been applied to the bill reference 001650 and the remaining balance to bill reference 001926. You can adjust the credit to apply field to suit – i.e I could just apply a portion of the total receipt amount, leaving an available amount to be used elsewhere. For example, in another case (not shown) total funds come in for settlement and payment of costs of $500,550.63, from that $550.63 is to pay an A/R balance, then the remaining $500,000.00 is to be paid out again to complete the purchase.
To post a multi-part receipt:
- In the home tab-trust receipts click the drop down and select multi part receipt
- Date or tick use today’s date
- Input the total amount, being the total value of the funds received in
- Place a tick in the box if the receipt requires further attention by way of a Red Flag
- Place a tick in the box if the funds have been received from an international source
- Leave the reference blank for the auto receipting system to allocate a number
- Funds type (as above)
- Enter who the receipt is from
- Narration – type in narration
- Click the green plus to add receipt parts
Adding a receipt part:
- Select client and matter
- Input the amount, being the value credited to this client/matter
- Total is the amount of this posting
- Target amount is the overall receipt total
- Out of balance is the amount yet to be posted
Notes: The total is the amount already posted. The target amount is the total value of the receipt. The out of balance indicates the balance still to be posted. The out of balance total needs to be zero before you can save the entry. If the out of balance amount is not zero, you will need to check each receipt part to find the imbalance. To change a part double click on that entry and edit the amount.
If there is an outstanding AR/s, on saving you will be asked ‘Do you want to apply this credit to an account rendered?’ if ‘Yes’ is selected the following screen will open. Click ‘Maintain’ to open the ‘Apply credit to account rendered’ screen and process as above for a single part receipt. After all ARs are maintained, simply click 'close'