Entering retainers

Simplified menu - Click Daily Activities, Enter Receipts

Standard menu - Click Receipts, Enter Receipts

Classic menu - Click Posting, Firm Receipts

Retainers are entered using the Receipts/Retainers feature, and apply only to firms operating in the United States.  If you enter a client/matter payment without selecting a bill to apply the payment to, the amount is recorded as a retainer.  

Retainers debit the general ledger bank account and credit the Retainer Revenue income account.  If the retainer is transferred to pay a bill later, the amount is transferred to the Fees Revenue and Client Expenses (or WIP Disbursements, depending on your accounting method) accounts.  Read the topic Automatic Journal Entries for more information.

1. Enter the general ledger Bank account.

2. Enter the Date, click to select the date from the calendar, or press Enter to use the current date.  To use a prior year date enter the date and then enter the prior year adjustments password when prompted.

3. Select the Client/Matter to enter the retainer for or press F5 to display a list to choose from.

4. Enter a Reference number for the retainer transaction.  If the reference number matches a bill on the client/matter, the retainer will be applied to that bill.

5. Enter the payment type.  Press F5 to display a list of payment types to choose from, or enter the code assigned to the payment type.

6. If the payment type is CHK the next Receipt number will be displayed automatically if Automatic receipt numbering is enabled.  Press Enter to accept the default number or type a number up to 10 digits long.  For non-check items you can enter a number up to 20 digits or characters long, and the receipt numbering series for the bank will be unaffected.  

7. Type a Description of the payment or press F5 to select from a list.  Click Quickfill to automatically insert frequently-used text in the description.

8. Enter the Retainer Amount.

9. Select Print Receipts to print a receipt to give to the client, and enter the number of copies to print.  Receipts print when you click Save .

10. Select Print Deposit Slips to print a record of the deposit.  You will be prompted to print the deposit slip when you click Post .

11. Click Save .

12. Fees must be distributed to the correct lawyer.  Type A to distribute the payment to the responsible lawyer, type P to prorate the fees based on the bill or type M to allocate the payment manually.  If you select M, enter the lawyer number and the amount to be distributed.  Continue until the balance remaining is zero.

13. Continue entering retainers or click Post .

Reversing retainers