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Dera Pease Posted: Wed, Dec 12 2007 6:27 PM

I have a client that overpaid on his account by 90 cents.  Instead of issuing a refund check, I let this credit stay in his account for 2 months.  We have now started a new matter for him.  I transferred this credit to his new matter.  However, my transfer entry is not correct for the system.  I issued him a "refund" in the account with a credit, and I credit in the account with a balance due.  When I attempted to reconcile the bank account, I notice that the "refund" appears as an item to be reconciled.  However, none of the choices seem to work,  Funds to funds transfer wants a check also.  The amount was so small, I was hoping to handle this transfer without the need to write a check.  Is that possible?


Thank you,

Dera Pease


PA 8.0  

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Posts 467
My approach would have been to 'bill' the .90 and let the 'bill' absorb that small overpayment. It's commendable that you chose to do the righter thing and apply his credit to his new matter. There are steps to take to do this sort of 'transfer', as you've seen. The 'refund' was correct, but, with the accounting turned on that means there's a 'check' written that will want reconciling. After the 'refund', however, a 'payment' of the .90 on the new matter would have an offsetting effect. You can 'deposit' the .90, then reconcile both the outgoing and incoming entries by going to the account register,  right-clicking each, and selecting 'reconcile'. You were on the right trail. Just dispose of the credit and enter a payment.

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

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