Tuesday, July 2, 2013

Post-dated Cheques And Monthly Entries In PCLaw

Did you know you can make post-dated entries in PCLaw?

There are actually a few ways to handle repetitive entries in PCLaw.

You can simply enter the individual entries, like a series of post-dated cheques given to your landlord. Simply do the cheque entry with the future date, print the cheque, and save the entry.  You can do the same for pre-authorized withdrawals without printing the cheque.  Replace the cheque number with Lease or Copier, Car, LSUC, etc. You can complete a years’ worth of entries in one short session,

You can also save the information by creating a Recurring Entry. These can be created from any cheque or receipt window, including accounts payable and accounts receivable. Complete the first entry, but instead of clicking OK, click Create, and name your entry, and whether or not you wish to be reminded. OK to save the Recurring and OK to save the original entry.

For pre-authorized withdrawals, you can have PCLaw remind you to enter the payment when it is due each month (weekly, bi-weekly, semi-monthly, monthly, quarterly or semi-annually).

If the entry is the same amount but random, you can recall the entry with the Use button. For example, you may have a client that always pays $50, but never on the same day each month. The amount and matter number are already saved for you – just open Receive Payment – click Use – change the date – OK.

These reminders not only help you complete the entries, but can also act as a tickler system:
  • to follow up with a client for payment
  • to retrieve and deposit a post-dated cheque you already have in your possession
  • to insure sufficient funds are on deposit for your own post-dated or pre-authorized payments

As always, I invite your comments and suggestions for future post topics. Next Posting – PCLaw and Petty Cash Purchases.