ACCOUNTING FREE TRIAL click here

Receipts

Use the firm receipts posting program to record payments from clients and to record other receipts received by your firm, for example, for tax refunds. Firm receipts posted to a client file reduce your accounts receivable and increase your bank balance.

When you post to your client files, Amicus Accounting also posts to your general ledger accounts. Read Automatic journal entries posted by Amicus Accounting for information on the automatic journal entry posted by the firm receipts program.

Posting a Receipt

1. Go to Receipts > Enter Receipts.
2. Enter the general bank account number.

3. Receipts > Enter Receipts

   Enter the date of the transaction, click the Calendar icon to select the date from the calendar, or press Enter to use the current system date. To post to a date in your prior year enter the date and then enter the previous year adjustments password when prompted.
4. Select the type of payment (e.g. Cash).
5. Optionally, enter information in the Reference field - for example, the client's check number or type of credit card.
6. Enter the payment amount.
7. Select the Print Receipt checkbox to print a receipt to give to the client. The receipts will print when you click Save.
8. Select the Print Deposit Slips checkbox to print a record of the deposit. You will be prompted to print the deposit slip when you click Post.
9. Select the type of receipt: Client.
10. Enter the client matter ID to post the receipt to, or select from the list.
11. Type a description of the payment or select an activity code from the list. To automatically insert frequently used text in the description field, enter the Auto-text code in the field and press the space bar.
12. The client matter's outstanding invoices to be paid are now listed in the Payment Distribution section, the oldest first. The payment amount is automatically allocated to the invoices, starting with the oldest. The unused portion of the payment, if any, is shown at the bottom right.
13. To skip payment on one or more of the listed invoices, clear the checkmark at the left of those invoice lines. The payment amount is automatically reallocated to the other invoices.
14. If the firm is configured to auto-allocate partial payments (in Start Up > Firm Settings > Payment allocation order), the unused portion of the payment amount will partially pay the last invoice, allocating that payment among fees, expenses, and taxes in the sequence configured for the firm.
    If the firm is not configured to auto-allocate partial payments, and the unused portion of the payment is not sufficient to completely pay the last invoice, no payment is allocated to that invoice.
    In either case, you can manually change the payment allocation by editing the amounts in the Fees, Exp+Taxes, and Payment columns for each invoice. The Balance O/S column shows the current balance outstanding on the invoice and the Payment column shows the current total payment on the invoice.
15. To apply a previous credit amount (shown at the right in the Payment Distribution section), select the checkmark for one or more invoices to which payment has not yet been allocated.
16. If there is an unused portion after you have finished allocating payment (shown at the right in the Payment Distribution section), select either to apply the unused payment as a credit on the client account or to issue a refund check.
17. To view or change the fee distribution on an invoice, select it in the list:
    • The responsible lawyer, total fees amount, and balance remaining are shown at the right in the Fee Distribution section.
    • You may select "A - All to Responsible" lawyer, "P - Prorate Based on Billings" (to apply the distribution set in the original bill), or "M - Manual Allocation".
    • If manually allocating fees among lawyers, you may enter or select a lawyer number to distribute fees to, and enter the amount of fees to distribute to that lawyer. Continue until you have distributed the total fee amount. To add a lawyer to the distribution list, click the "+" button. To delete a lawyer from the distribution list, select them in the list and click the "x" button.
18. Click Save. The receipt is added to the list of unposted receipt transactions. You may now continue saving client, General Ledger, and unbilled expenses receipts.
19. To view or post the saved receipts, including any saved reverse receipt transactions, go to the View Unposted Transactions tab. If you do not wish to post all the listed items, you may select the unwanted ones and click Delete to remove them from the list before clicking Post.

Reversing a receipt

Receipts > Enter Receipts

You cannot reverse a receipt that has been cleared using the Bank Reconciliation function, and you cannot reverse a receipt posted to a client file that has been closed.

1. Go to Receipts > Reverse Receipts.
2. Select the general bank account number to which the original receipt was posted.
3. Enter the date on which you want the reversal to appear.
4. Select the type of receipt being reversed: Client, G/L, or Unbilled Expenses.
5. If reversing a client receipt, enter the client matter ID or select from the list. Then select the number of the receipt to be reversed. It is important to use this system-generated number because accounts receivable transactions are grouped and aged by that number.
   
   If reversing a General Ledger receipt, enter the G/L account number or select from the list. Then select the number of the receipt to be reversed. It is important to use this system-generated number because accounts receivable transactions are grouped and aged by that number.
   
   If reversing an unbilled expenses receipt, enter the client matter ID or select from the list. Then enter the expense code or select from the list of paid unbilled expenses.
6. The original amount, type of payment, and other information will display automatically. You cannot edit these details.
7. Click Save. The reverse receipt transactions is added to the list of unposted receipt transactions. You may now continue reversing receipts or saving client, General Ledger, and unbilled expenses receipts.
8. To view or post the saved reverse receipt transactions, including any saved receipts, go to the View Unposted Transactions tab. If you do not wish to post all the listed items, you may select the unwanted ones and press to remove them from the list before clicking Post.

TIP: You cannot reverse a partial amount using Reverse Receipts. To reverse a partial amount, post a regular firm receipt without selecting Reverse Receipts. Enter the original bank, client matter, date, and reference number information. In the Fees and Expenses+Taxes amount fields, enter the amounts to be reversed by typing a negative sign and then the amount. Therefore, to manually reverse a receipt, the amount must be entered as a positive number.

Amicus Accounting 2008 Overview

Ordering Compatible Checks and Envelopes

Amicus Accounting 2008 is currently not available in Canada.