Quick tip: The financial summary section of the trust payment screen allows you to quickly see if the funds are in trust to cover the payment going out.
1. From the home tab, click ‘Trust Payment’
2. Select client / matter
3. Date the payment or tick ‘Use today’s date'
4. Add the amount
5. Place a tick in the box if the payment requires further attention by way of a Red Flag
6. Place a tick in the box if the payment is being made to an international bank account
7. Funds type will always be Electronic
8. Place a tick in the box if the payment is being made by Same Day Cleared Payment
9. Leave the reference blank for auto payment number
10. Disbursement (see disbursement payment options below)
11. Payment to - if funds are being paid to the client then simply tab over this field and the client will be selected. If paying to another party, you need to search by typing in their name or create a new non-client party by clicking on the green plus
12. Bank Account Number will pull through a bank account number IF loaded against the client/non-client at client level)
13. Narration – type in the details of the payment
14. Managed Docs - use the green plus to search for and add documents relevant to the payment
15. Tick ‘Print after saving’ if you wish to have a paper copy
16. ‘Save & New’ to save the posting and create further payments
17. ‘Save & Copy’ to continue posting payments on the same client/matter – client, matter, date, payment to and narration fields are retained
18. ‘Save & Close’ to save the posting and exit the trust payment screen
19. Cancel to abandon posting and exit trust payment screen
Disbursement payment option
Rules
- A billed disbursement cannot be reversed unless the full bill is reversed
- A payment cannot be added to a bill unless it has been created as a disbursement (disbursement set to yes when creating the payment)
- The disbursement field can be edited at any time to mark as a disbursement or take the disbursement flag off using the ‘edit’ button
- Neither a payment nor a disbursement payment have any firm GST implication, so there is no issue with the timing of a conversion of a normal payment to a disbursement payment.
If ‘Disbursement-Yes’ is selected, the GST content will be calculated and payment will become billable - i.e will appear in the bill maintenance screen in the expense and disbursements section.