Accounts Receivable

We have covered pre-bills and bills, now we want to get paid. There are many ways clients choose to pay their invoices, each requiring a different method of posting the receipt.


For a payment in the exact same amount of the invoice(s) owing, or less – use Receive Payment, enter matter number and enter the payment amount.


By default, PCLaw wants to apply the payment to the older invoices first. Your client may wish you to allocate their payment to a specific invoice, which is not necessarily the oldest. To avoid any issues that occur due to the default settings, do not enter the matter number. Instead, enter the invoice number, which will still populate the other boxes, but will also ensure only this invoice is paid.


For payments that are for more than amount owing – this cheque, even if just one cent more, must be deposited into trust - and then immediately use Trust to General Transfer to pay the amount owing.


For a client paying the exact amount or less of multiple invoices on multiple matters – use Receive Payment, only instead of entering a matter number, enter the "Client" name/number, and then select the invoices.


Enter the cheque number, credit card transaction number, wire/bank transfer number, etc. Be sure to also record the method of payment, cheque, certified cheque, bank cheque (draft), cash, credit card, direct deposit, money order, wire or other. It is especially important to note the method of payment on trust receipts, as the LSUC requires you to return the trust funds by the same method as they were received.


As always, I invite your comments and suggestions for future posting topics. Next week – Deposit Slips.
Clyde