Matter Financial Page

Matter Financial Page

The Financial tab on a matter is divided into: Overview, Time, Bill, Expenses, Payment, Requisition, Client account, and Settings.  




On the matter Financial tab, the Overview gives an overview of all financial activities related to the matter and is divided into two parts.  

The first half of the Overview refers to bills issued from the matter owner to a client, and payments or client receipts of payment to the matter owner. 


  

The second half of the Overview refers to client account money (Client Deposits) i.e. trust money and all cheque requests taken out on the matter (Client Payments) 




The Time tab on a matter shows all time logged on documents, calls, appointments, etc.,. 



The Expenses tab on a matter shows all expenses added and which have been billed. 


 

 

Bills and Payments 

The Bill tab shows all invoices and bills issued from the matter owner or solicitor to a client. The bill can include time spent on matter documents, calls, meetings etc., and expenses. When you issue a bill, the amount appears in Bill Status column as Issued. 




The Payment tab shows all receipts of payment to the solicitor or matter owner from the client. So, if you issue a bill of €1,500 and the client pays off €250, you can add this €250 to the Payment tab, and it will be deducted from the outstanding amount for the matter. All money received from the client directly to pay off fee earner costs should be added to the Payment tab. 

  

 

Requisitions and Client Account 

The Client account tab can be described as a trust account for the client. Any payments received on behalf of the client from another party can be stored here.  

For example, if your client sells their house and the purchaser’s solicitor sends the fee for the property, this money would be added to the client’s account. This trust money can then be used for payments on behalf of the client such as paying another mortgage or paying for improvements to a home.  



 Trust money deposited into the Client account 
Cheque requisitions that have been taken out of the Trust 
Remaining funds in the Client Trust account 

 


Requisitions are all cheque requests made on the matter. This can include cheques on behalf of the client to a third party, to another client, and to the office. Office to TAX cheques are also made through this tab. When cheque requests are made on behalf of the client, the money will be deducted from the Client account. 



  

Settings 

The Settings tab allows you to set the financial values for the matter, such as hourly rate or fixed fee. 

If your default billing method is per matter category rate, here you can define an hourly rate that is applicable for time logged on the matter. 



Once you are finished adding the Rate, make sure to click Save. 


Toggling Yes on Fixed Fee allows you to issue a fixed fee bill without having to add individual items to a bill. 


 

Once you are finished adding the Amount and Description, make sure to click Save. 

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