LAWS/Pro Accounts Receivable
The LAWS/Pro Accounts Receivable system maintains accurate balances due from clients, and
is seamlessly integrated with all other functions within LAWS/Pro.
Invoices are automatically added to Accounts Receivable from the LAWS/Pro Invoicing system.
LAWS/Pro maintains a complete breakdown of each invoice by Fees (Charges for services rendered),
Disbursements (Actual costs paid by the law firm on behalf of the client), and
Expenses (Overhead charges billed to the client). In addition, LAWS/Pro tracks balances by the
individual performing the service, the billing attorney, and the various cost classifications.
The Accounts Receivable system provides the ability to apply client receipts against the outstanding invoices. The receipts are
automatically applied first against Disbursements, then Expenses, and finally Fees. The automatic application may be manually
overridden is desired.
LAWS/Pro also supports the processing of Non Accounts Receivable receipts such as Client Trust Receipts (client receipts
stored in a trust account),
Client On-Account (receipts stored in the firms general account to be automatically applied to future invoices),
and Cost Reimbursements (receipts
which should be applied as direct credits to work-in-process). The total processed receipts should equal the deposit
taken to the bank. If desired, LAWS/Pro can even print your deposit ticket!
Posted receipts automatically:
* Reduce the Client's balance due,
* Correctly process Trust, On-Account, and Cost Reimbursements,
* Posts the Cash, Fee, and Cost distributions to the General Ledger,
* Stores Attorney and Client productivity statistics,
* and Maintains an accurate, running, Daily Cash Balance.
Additional Functions and Features within the LAWS/Pro Accounts Receivable system include:
* The ability assign Late Charges to delinquent balances,
* Detail on-line Inquiry capabilities,
* A variety of Aged AR report formats,
* A variety of Cash Receipts Journal report formats,
* A variety of Billing Journal report formats,
* The ability to produce Client Reminder Statements in a variety of formats.
All reports may be printed as a PDF document, or saved as an excel file.
The LAWS/Pro Accounts Receivable system is capable of satisfying all of your requirements. Its total integration
eliminates the duplicate posting and reconciliation associated with the use of multiple, piecemeal, software packages.