LawAccounting allows for accounting of multiple companies in a single Salesforce instance, provided they share the same fiscal year end and Chart of Accounts. LawAccounting’s multi-ledger feature is available and does not require activation by the LawAccounting support team.
- Navigate to Accounting Home and click the Companies under Accounting setup Menu.
- Click new will popup below screen.
This is required step to enable the LawAccounting in your organization
Company Name: Name of the company, please make sure that you are not creating duplicate companies, as this will create user confusion.
Default unapplied account: This field is used on cash receipts, by default the system will put the credit GL on the receipt from this setting. This setting is only for non-Trust accounts. The trust credit GL settings are in another field in the same form.
Default Bank account: This field is used on cash receipts, by default the system will put the Bank GL on the receipt from this setting, if the user leaves it blank during the receipts process.
Default Revenue account: This field is used on the customer invoice, by default the system will put the revenue GL on the invoice line from this setting, if the user leaves it blank during the invoicing process.
Default Disbursement Controlling Account: This field is used for money owed by the business to vendors.
Default Trust PDF Format : Trust Request pdf button.
Default Expense account: This field is used on Vendor payments, by default the system will put the expense GL on the voucher line from this setting, if the user leaves it blank during the voucher process.
Default Billing format: This is default invoice format, if you have multiple formats, this field will be ignored and use the custom solution created.
Default Cash Accounting Revenue GL: This is Default Revenue Account which will be Used On Cash Side.
Default Cash Accounting Expense GL: This is Default Expense Account which will be Used On Cash Side.
Current Year Earning GL Account: This is used to track the current year’s earnings/net income on the Balance Sheet. When an Accounting Period is closed, the net income from the Profit & Loss will flow through to this Balance Sheet GL account.
Retained Earnings GL Account: This is used in the month end close process at year end (automatically posted when the final Accounting Period of the year is closed) to roll the prior year’s net income onto the Balance Sheet.
Default CC Payment Gateway: This setting connects you with the payment gateway to process credit cards. Currently LawAccounting supports LawPay, Gravity Legal, and Paypal.
Default eCheck Payment Gateway: This settings connects you with the payment gateway to process the eCheck/ACH. Currently LawAccounting supports LawPay, Gravity Legal, and Paypal.
WIP Enabled: This setting enables WIP processing in LawAccounting. This is a two step process. First, you need to enable this setting, then you need to map the WIP GLs with your Timekeepers and Expense type in your case management system (CMS).
WIP Contra Account: This GL is used in cash basis accounting to post WIP on the balance sheet. This entry gets reversed and moved to the AR GL when the billing is generated.
Default Voucher Account: This should be set to the default Accounts Payable GL Account. LawAccounting provides you the ability to have multiple Payable accounts, which can be set up in the General Ledger setup. If none is set up in the General Ledger settings, this default is used to set up the default payable GL.
Default Receivable Account: This should be set to the default Accounts Receivable GL Account. LawAccounting provides you the ability to have multiple receivable accounts, which can be set up in the General Ledger setup. If none is set up in the General Ledger settings, this default is used to set the default receivable GL.
Billing Activity Statement Format: Default PDF Format for the Activity Statement.
Billing Outstanding Statement Format: Default PDF Format for the outstanding Statement.
