Receiving monies into the practice's client account

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    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