¶ 1. Overview
The General Receipt feature allows law firms to record money received into the general operating account. General receipts are used for payments that are not trust funds, including:
- Invoice payments
- Retainer replenishments (if firm policy allows general retainers)
- Reimbursements
- Miscellaneous income
- Direct deposits to the general account
This feature ensures all general‑account deposits are properly recorded, allocated to the correct client or invoice, and included in financial reporting and reconciliation.
¶ 2. When to Use a General Receipt
Use this feature when:
- A client pays an invoice by cheque, e‑transfer, cash, or credit card
- Funds are deposited directly into the general account
- A payment is received that is not trust money
- You need to apply a payment to one or more invoices
- You need to record non‑client income (if enabled by firm policy)
General receipts must not be used for trust deposits.
¶ 3. Bank Selection
At the top of the form, users must select the general bank account where the funds were deposited.
¶ Bank Selection Details
- Only general operating accounts appear
- Ensures the receipt is posted to the correct general ledger
- Required before entering payment details
- Prevents accidental posting into trust accounts
Selecting the correct bank ensures accurate reconciliation and reporting.
¶ 4. Client & Matter Selection
If the receipt relates to a client:
- Select the Client
- Select the Matter (if applicable)
This ensures the payment is correctly linked to the client’s financial history.
¶ Use Cases
- Paying invoices
- Recording general retainers
- Recording reimbursements
If the receipt is non‑client income, the client field may remain blank (depending on firm settings).
¶ 5. Payment Type
The Payment Type field identifies how the funds were received.
¶ Typical Payment Types
- Cheque
- E‑Transfer
- Wire Transfer
- Credit Card
- Cash
- Bank Deposit
¶ Why It Matters
- Supports accurate audit trails
- Helps reconcile bank statements
- Ensures proper categorization for accounting
¶ 6. Amount & Description
¶ Amount
- Enter the exact amount received into the general account.
¶ Description
Examples:
- “Payment for Invoice #12345”
- “Client reimbursement for courier fee”
- “General retainer deposit”
- “Miscellaneous income”
Descriptions appear in all audit logs and financial reports.
¶ 7. Applying Payment to Invoices
If the receipt is for invoice payment:
- Select the invoice(s) to apply the payment to
- The system displays:
- Invoice number
- Outstanding balance
- Amount to apply
- Users may apply:
- Full payment
- Partial payment
The system automatically updates the client’s outstanding balance.
¶ 8. Posting the General Receipt
When the user selects Post & Close, the system:
¶ General Ledger Effects
- Increases the general bank balance
- Records a general receipt entry
- Updates revenue accounts (if linked to invoices)
¶ Client & Invoice Effects
- Reduces outstanding invoice balances
- Marks invoices as paid (full or partial)
- Updates client financial history
¶ Audit Trail
- Records user, timestamp, payment type, and bank
- Ensures compliance with accounting standards
General receipts cannot be edited after posting — they must be reversed if corrections are needed.
¶ 9. Compliance Notes
General receipts must follow standard accounting rules:
¶ 1. No Commingling
- General receipts must never be used for trust deposits.
¶ 2. Accurate Allocation
- Payments must be applied to the correct client and invoice.
¶ 3. Full Audit Trail
- Every receipt must record:
- Date
- Amount
- Payment type
- Bank account
- Client (if applicable)
- Description
¶ 4. Reconciliation
- General receipts must appear in:
- Bank reconciliation
- General ledger
- Client payment history
¶ 10. Integration with Other Features
General Receipt integrates with:
- Invoices & Payments – Applies payments to outstanding invoices
- Client Detail – Displays payment history
- General Ledger – Updates operating account balances
- Reports – Revenue, payments, bank reconciliation
- Find – Search and reverse general receipts
- Daily Activities – Connects to billing workflows
This ensures a complete and accurate general‑accounting workflow.
¶ 11. Summary
The General Receipt feature provides a structured, compliant method for recording funds received into the firm’s general operating account. With support for bank selection, payment types, client allocation, invoice application, and full audit trail tracking, it ensures accurate financial management and seamless billing operations across the firm.