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multiple fund accounts

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Robin Posted: Wed, May 20 2009 6:32 PM

We occasionally have clients who have two sets of funds on deposit with us:  retainer funds for fees and a sum being held separately for specific purposes.  In the past, I have created a separate matter subtitled "funds for ..." but would prefer to have all in the same matter so I tried utilizing a second Fund account.  It does not appear on the invovice.  I thought that this might be because I needed to adjust the bill profile but it does not seem so.  And there does not seem to be anything in the bill layout to identify or print multiple fund accounts either.

Is there a way for the second fund account to print on the invoice?  If not, can someone enlighten me as to the purpose of a second fund account in Time/Billing Matters or when it is used or what for (because I thought this would have been it, just never tried it).

If anyone has any other ideas or thoughts on how to handle this type of situation, please suggest away.   Thanks.

Robin Burlinski, Bookkeeper
Cooper & Forbes, Painesville, Ohio

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Robin -

You should be able to have one or both fund accounts print on the bill, with the activity for each.

Make sure your Fund Accounts are setup at Program Level (File > Setup > Rates & Accounts > Accounts.)

Then, on the specific matter open the Billing Preferences, go to the Funds tab and add the 2 fund accounts. For the account that will be applied to fees, be sure to check the box "auto apply payments to new charges on bills", in the box "applies to" you can select fee, expenses, or both. 

Then, be sure to drop down the list for "Detail on Bill" and select summary or detail . . . if this is showing "none" it will prevent your funds activity from printing on the bill.  (i.e. if you want to show the client how much is in each account you need to show summary/detail on each account . . . if you only want to show them detail on the account used to pay their bill, then leave the other one as "none". 

Hope this helps.

 

Jackie Kraft ProActive Consulting, LLC Time Matter, Billing Matters & PC Law, CIC Newton, NJ jakraft@ptd.net 973-948-2135
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There is a box to check on the Bill Profile to 'show fund balance even if no fund activity'. It's on the Totals and Summaries tab. Checking this box, and checking the box to 'include if fund balance' when creating bills will put the level of detail selected on the preference on the client bills.

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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