Sunday, September 18, 2011

Transfers Between Matters

It often occurs that clients with multiple matters either request that you transfer entries or you ask the client for permission to transfer entries between matters. There are many reasons for this, but could include:
  • your wanting to merge two matters after obtaining a court order to have them tried together.
  • funds from a real estate sale matter transferred to a purchase matter.
  • one matter may have been resolved, and you wish to transfer a few small expenses rather than issuing two separate invoices.
  • there could be settlement funds or an unused retainer balance in one matter, that could be applied to accounts receivable in another matter.
To transfer expenses from one matter to another – Data Entry – Transfer Expenses – enter matter that has the expenses and then the matter you wish to transfer them to. By default, all expenses will be listed - to shorten the list, choose a start date – then click the Select button. All expenses within the date range will appear and be selected for transfer. To stop one or two expenses from being transferred, click to remove the “X” – then click “Transfer”.

To transfer trust funds, Data Entry – Trust Bank – Matter to Matter Transfer or Quick Step Trust Tab – Matter to Matter Transfer - enter the matter that has the funds and then the matter you wish to transfer the funds to – the date – the amount – an explanation – OK.

To split trust funds when entering a receipt, just enter the two matters and their respective amounts on the trust receipt.

As always, I invite your comments and suggestions for future posting topics. Next week – HST on long-term billing.