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Asking client for trust acc't deposit

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Top 100 Contributor
Posts 38
Joseph Nierenberg Posted: Tue, Dec 15 2009 11:50 PM

Is there any way to incorporate into an invoice a request to a client to make a deposit into a trust account?  Let's say there is $5000 of fees and $250 of expenses, and I want the client to pay an extra $5000 that will go into the trust account to be used in the near future for specific expenses.  What are the best ways to do that without billing for those anticipated expenses in advance?  (One alternative would be to create a separate invoice in Excel and send it along with the normal invoice from TM/BM.)

Joseph Nierenberg
Nierenberg Employment Law, PLLC
Consulting – Litigation – Training
Minneapolis, Minnesota

Top 10 Contributor
Posts 467

On the bililng preference, on the funds tab, there are fields for 'minimum balance' and 'preferred balance'.  I have a NY client who has these fields with the same amounts; $5,000.00. When a bill is created, the fields for 'replenish amount' and 'Balance + replenish' are included on the bill. That way they always have the current bill being paid, PLUS the replenishment request in the same amount that keeps the fund balance at 5000.00. In your example, you would set the 'preferred balance' and 'minimum balance' to be $5,000.00. Assuming you have NO trust at this time, and set those numbers to 5,000.00, the bill would show fees, 5000.00, expenses 250.00, replenish amt of 5000.00, with 'total balance + replenish' of 10,250.00. Is that what you mean?  These fields are on the bill layout in the 'this bill' pool. The descriptions can be adjusted using the labels tab of the profile. I set these fields in a 'user definable' area for firms that need to pick and choose which bills need these sections.

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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