This guide provides a step-by-step process for adding a Revenue GL Account to a receipt in the LawAccounting/CaseQube system, ensuring accurate revenue allocation for payments. By following these instructions, users can efficiently manage financial records, link payments to specific client matters, and maintain compliance with accounting standards. It streamlines the editing process, making it easier to track and categorize revenue entries, ultimately enhancing financial management within the organization.
1. Step 1: Initiate Edit w/ Revenue Screen
- Log In
- Access LawAccounting/CaseQube using your secured credentials.
- Navigate to Revenue Management App
- Using the App launcher (nine-dot icon), open the Law Accounting
- Open the Receipt List View
- Click Receipt Tab
- Open the Edit w/ Revenue Screen
- Click Edit w/ Revenue
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2. Step 2: Receipt w/ Revenue Screen
- Edit w/ Revenue: The Edit w/ Revenue process allows users to modify how revenue is allocated for an existing receipt.
- Top Section: This section records the basic receipt details.
- Matter: The case or matter associated with the payment. This links the revenue to a specific client matter.
- Customer: The client or party making the payment.
- Bank Account: The account where the payment is deposited, such as a trust account or operating account.
- Amount: The total payment amount received.
- Receipt Date: The date the payment was received.
- Credit GL Account: The General Ledger account that will be credited when the receipt is recorded
- Revenue Allocation Section: This is where you define how the revenue should be recorded. Each row represents a revenue entry.
- Revenue GL Account: The income account where the revenue will be recorded.
- Date: The date the revenue entry should be recorded.
- Amount: The amount being recognized as revenue.
- Hours: If the revenue is tied to time worked, you can record the number of hours.
- Rate: The billing rate per hour.
- Type: Used to categorize the revenue entry (for example fee type or activity type).
- Comment: Optional notes describing the revenue entry.
- Total: The calculated total for that line item.
- Add Row Option
- Add Row: add another row to the revenue allocation section
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3. Step 3: Save & View
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Fill in all required information and verify that the details are correct.
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Click Save to record the receipt with the revenue allocation.
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Once saved, the screen will automatically refresh and display the updated receipt record.
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Select the Payments tab to view the newly recorded payment and confirm the transaction details.
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