Receipts and applying money to bills

Record money received

1. Receipts, then Record receipt. A party's Receipts tab records one for that party.
2. Choose who paid and the day it arrived.
3. Choose the account it went into. An office account makes it office money; a client account makes it client money held on trust. The account's currency is the receipt's.
4. Enter the amount and how it was paid. Put the client's own reference in Their reference: a bill number there is matched when the money is applied.
5. For client money, choose the matter it is held for. The payer must be the client on that matter.
6. Record receipt. Office money is posted to fees received in advance until it is applied to a bill; client money is posted to the client ledger of its matter.

Cheques

A cheque is recorded with the bank it is drawn on, its number and the date on it. It waits, unposted and unnumbered, until it is banked: choose Bank on the receipt and give the day, which cannot be before the date on the cheque. A post-dated cheque is simply one held until its date. Mark cleared records the day the bank confirmed the funds. Return the cheque records a cheque the bank sent back, with the bank's reason and reference: its money comes off every bill it paid, and the receipt is reversed. The Cheques tab lists every cheque with its state.

Apply money to bills

Apply to bills on an office receipt lists the payer's bills in the receipt's currency that still have money outstanding. The lines start from suggestions: first a bill named in the reference, then one whose outstanding matches the amount exactly, then the oldest first. The tax a company payer is expected to withhold is proposed beside each bill. Change any figure, then Apply. Every line is applied together or none is.

A bill is never paid more than it has outstanding, and a receipt never applies more than it holds. Client money is never applied to a bill. When a bill is paid in full, the partner responsible for the matter is told.

A bill's Payments section lists every receipt applied to it.

Take money back or reverse a receipt

Take back on an allocation takes the payment off that bill with a reason. The bill owes it again, and the money waits on the receipt. Reverse reverses a whole receipt, for a chargeback or one recorded in error: every allocation is taken back, then a new journal reverses the receipt's. The receipt itself is never changed. Client money that has already been spent cannot be reversed until it is put back.

Money not yet applied

The Unallocated tab lists office money received and not yet applied, oldest first, with how long it has waited and the totals per currency.

Issue the receipt

Issue receipt draws the receipt on the letterhead: the amount in figures and words, how it was paid, the account and what it was applied to. It is filed in the documents on the payer and the matter. Send by email sends it to the payer, and Sent shows whether it arrived. Issue it again after applying more money and a new copy is filed.

Withholding tax certificates

When a company withholds tax, it owes the firm a certificate for it. Receipts, Certificates, Record certificate: choose the payer, enter the certificate's number and days, tick the payments it covers and how much of each, and choose the scan from the payer's documents (upload it there first). A certificate never covers more than the tax withheld.

To chase lists tax withheld with no certificate once the firm's chase period has passed, by payer. The period is set under Settings, Billing, Chase withholding certificates after (days): 60 days unless the firm changes it.