Entering Opening Balances for Clients and Matters

This article will cover adding opening balances for Clients/Matter, namely:

Trust
Accounts Receivable
Unbilled Time
Unbilled Disbursements

Preparation Steps:

Lawyers and Timekeepers
Clients/Matters
Chart of Accounts
Disbursement Codes

Lawyers and Timekeepers

Ensure that the required Lawyers and Timekeepers are added who record time in your firm. Review and add in “Lists – Lawyers & Timekeepers” feature to enter the lawyers and timekeepers. You must enter your firm’s lawyers before entering clients and matters.

Note:

Refer to article “Adding or Editing Lawyers & Timekeepers”

2. Clients/Matters

Using “New Client/Matter” feature in “Clients & Matters” menu, add your existing Clients/Matters.

Note:

Refer to article “Adding a New Client/Matter”. To enter a large list of clients and matters, refer to article “Import Process Document”.

3. Chart of Accounts

Ensure all General Ledger accounts have been created in “Maintenance – Chart of Accounts” or in “Firm & Financial – Chart of Accounts”.

Note:

Refer to article “Adding or Editing General Ledger and Bank Accounts”.

4. Disbursement Codes

Ensure all Disbursement codes have been added in “Lists – Disbursement Codes”.

Note:

Refer to article “How To Create, Edit and Inactive the Disbursement Codes”.

Process Steps:

Trust
Accounts Receivable
Unbilled Time
Unbilled Disbursements

Trust

Before entering trust balances, you will need to know the General Ledger account numbers for your trust banks and added in preparation step 3 above.

Option 1

These balances can be entered as “Trust Receipts” to each of the “Clients/Matters”.

Note:

Refer to article “How to enter a Trust Receipt”.

Option 2

The Import & Export Wizard can be used in “File – Import & Export – Import & Export Wizard – Trust Receipts”.

Note:

Refer to article “Import Process Document”.

Note:

Before entering the Client/Matter Trust Balances, refer to the Law Society in the province, as to their requirements. For balances in pooled Trust Accounts, the description for each Client/Matter will read “Regular trust opening balance”. For balances in term or interest-bearing accounts, the descriptions will read “Term trust opening balance”.
No trust transactional history will be available.

Accounts Receivable

Option 1

Account Receivable unpaid bills can be entered using the “Transactions – Create Flat Bills”.

Note:

Refer to article “How to enter a Flat Bill”.

Option 2

Account Receivable unpaid bills can be entered using the “Transactions – Create Pre-bills & Bills” or “Billings & Payments – Create Pre-bills & Bills”.

Note:

Refer to article “Create Client Pre-Bills and Bills'.