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Recording expenses

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hiken Posted: Fri, Jan 18 2008 4:41 PM
I have always used Check Express to write and records checks from Trust. Recently, I started using the Detailed Billing powerview when viewing matters. I notice that payments entered in this manner do not show up on the powerview as Expenses. What is the method for properly recording expenses - for them to show up on this powerview? Thanks, Howard Iken New Port Richey, FL 727-844-7676
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The proper way to enter these is as a withdrawal from funds. This is under billing - new transaction.

 

Caren Schwartz (Moderator/CIC)

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Howard - When you take funds from a client and enter into your trust account, those funds are  reduced in one of two ways; Apply funds to AR, and Withdraw funds. If you are paying a client expense from THEIR trust funds, the item need not be recorded as an expense to the firm. (You don't want to charge them twice, right?)  However, you might want to list the item as an expense on the matter, so that it shows on the bill, just be sure to 'no charge' it. I would put right in the description of the item, 'paid from trust account, check number x'.

Kathy Burger PREMIER LEVEL CIC - PCLaw, Time and Billing Matters Plus Certified Kathy Burger Consulting, LLC 200 Windward Ave. Beachwood, NJ 08722 732-279-6301 Kathy@KathyBurgerConsulting.com

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