MIXED RECEIPTS

Author:                   Cindy Kruger

Date:                      September 2007

Audience:             Bookkeeping

Summary:              Mixed Receipt function in LegalSuite

CONTENTS:

· Introduction

· How to capture a mixed receipt

· Conclusion

Introduction:

Mixed Receipts is a Receipt option that analyses the receipt that you are entering and decides automatically if you should deposit it into Trust or Business. If you receipt an amount that is equal to or less than the “Business” debit amount on your matter then the system will automatically change the bank account to the default Business bank account. This is the method that the Law Societies recommend as the moneys received is not “Trust” but “Business”.

Remember: You can still override this option per receipt if required.

How to Capture a Mixed Receipt

Click on the  icon to open the Batches screen. Click on the Receipts Tab

Fig 1: Batches – Receipts Tab

Four different receipting options are available on the left of the window, and the Batch List is displayed on the right. Click on the  icon to open the Mixed Receipt window:

Fig 2: Mixed Receipt will be added window

Select 'Matter' for the Type and fill in the Matter File Reference under the Account. Once you have filled in the File reference for you matter, the Matter balances will appear in the yellow section on the right hand side of the Receipt will be added window

Fig 3: Matter balance details on the right hand side of the receipt will be added window

Fill in the Description this is the details of the Receipt that will appear on the account that is being credited; normally details of who the payment was received from.

Select who the receipt was received from. In this example we will use 'Client'.

Fill in the amount for this Receipt. If your matter has a debit balance and the amount being receipted is equal to or less than the debit amount then the system will automatically change the bank account to the business bank account.

In our example Matter “1/1236’ has a debit balance of R54.24, If I receipt the exact amount or less then LegalSuite changes the bank to the default “Business” bank account.

If the amount you are receipting is more than the debit balance, then the default “Trust” bank account will still be selected, because part of the receipt is “Trust” funds. To transfer your portion of the receipt you can then run a “Trust to Business Transfer”.

Fig 4: Bank Account has changed to the business bank account

You can override the automatic selection of the bank account by simply changing the option back to “Trust” if you would like the money to be receipted into “Trust”.

Complete the Pmt method, Receipt No and the Receipt Details. Once you have filled in all the fields click on   . The Receipt window is cleared for the next Receipt's information.

Conclusion:

The mixed receipt is a powerful feature which will automatically select which bank accounts the money should be receipted into depending on the Matter balances. This is also the method requested by the Law Societies as they don’t want you to capture “Business” moneys into “Trust”.