Receiving monies into the practice's client account

Last modified 07:53, 24 Apr 2017

Overview

This section details how monies may be received into the practices client account.

Receiving monies into the practice’s client account

1.    Go to Practice > Financials and select Client Accounts.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client1.png

2.    Right-click on the account Client Account to bring up the local menu and select New Receipt for Client Account.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client2.png

3.    In the dialog box that follows, select the job in respect of which the monies are being received.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client3.png

4.    For this receipt, we are assuming a tax refund from HM Revenue and Customs.  Enter the following details:

 

Field

Value

Payer

HM Revenue and Customs

Memo

Tax refund

Pmt Type

Cheque

Bank and Branch

HMPG

Account

Tax refund

Net

£15,000.00

Total

£15,000.00

Note

Although you will have the facility to enter a Payer from the counterparties list, this is not enforced in this screen.  The address field will not automatically populate if the Payer is not already a counterparty.

5.    Compare your screen with the screenshot below.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client4.png

Note

The Payer and Account details added here should entered as you would wish it to show in the accounts in the job.

6.    Click [Save and Exit].

The grouped Deposits and Payments screen now shows the realisation as entered.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client5.png

Although no transactions have been entered here, the Job Accounts screen shows the receipt for the job.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client6.png

7.    These transactions are reflected in the job itself.  Go to Financials > Accounts in the job.

File:test/insolvency/040_2+Client+account/020_Receiving+monies+into+the+practice%EF%BF%BDs+client+account/Client7.png

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