This article describes the fields in the Payment Requisition Module (User).
Overview
A Fee Earner can request a Bookkeeper to make a payment to a Client, Debt Recovery Debtor, Business Creditor, Instructed Correspondent, or for a General Ledger account. This is facilitated through the production of a payment requisition, which details all the necessary payment information for the Bookkeeper and instructs the Bookkeeper to make the payment/s.
Law Society Rules
35.13.5 - A firm shall, where the firm utilises electronic banking in respect of payments from the trust account, keep a proper audit trail, which shall include verification of the payee’s banking account details.
Top Tips
Always attach the source document/invoice/ statement which the payment is for, to assist with any queries the bookkeepers might have with regards to the payment. This is also to assist with record keeping for the Trust audit, as auditors need to compare payments made from trust to their source documents to verify their validity. See LSR 35.13.5
If payment requisitions are generated in GhostPractice, with Payee banking details completed, they can be printed, signed, scanned and attached to the relevant files, alternatively payment requisitions can be electronically authorised. Both options allow for easily accessible records during audits.
Each Payment requisition has a unique reference number, allowing Fee Earners to track the status of their requisition
Using the payments module to create a Payment Requisition enables bookkeepers to quickly identify important information relating to the payment, bookkeepers can see:
the bank account payment should be made from
the payee (beneficiary), and their bank details
the file details
the amount to be paid
who requested the payment
who authorised the payment.
Payment Requisitions can be reviewed and validated by bookkeepers or department heads and, if necessary, payment requisitions can be sent back to the user that created the requisition as a Draft, with a note stating what needs to be attended to before payment can be made. After the user has attended to the necessary changes on the draft, the payment requisition can be sent back to the bookkeeper for processing.
Payment to client – this option is important for debt recovery files, when payments are made to the client from the matter, to ensure that the reports reflect correctly what has been paid over to the client from money collected and what is still outstanding
Payment Requisition Fields
#
Field
Description
1
Account Type
Select the account type payment is made from.
2
Payment Method
Select whether the payment should be by Cheque or EFT.
3
Pay From
Select whether the payment should be from Trust or Business
Business
Direct disbursement: This option will flag the payment as a disbursement and, upon invoicing the matter, show the payment on the invoice as a disbursement to be recovered from the client.
Please note that payments do not reflect on invoices - only fees and disbursements show. The payments show on the statement of account as financial transactions.
Trust Type
Investment – this needs to be ticked when the payment is from the general trust to the investment account.
Payment to client or Other – If the payment is for the client, the option for Payment to client needs to be ticked. This will flag this payment as a payment to the client for reporting purposes. If the payment is not to the client, the Other option needs to be selected.
4
Account Number
Type/search for the account number. The account number will be dependent on the selection chosen in the account type.
5
Amount
Enter the total amount to be paid.
6
Vat In/Out Setting
When the business option is selected, the Vat In/Out setting will be available for selection.
7
Add Account
Click Add Account
The account information section will clear after the Add Account has been selected and will display in the Account Details section.
For split payments, complete the account information section again with the next account information and click on the Add Account again. Repeat until all your accounts have been added.
Please note the split payment option is for making one payment to one payee, but for multiple accounts.
8
Additional Payment Details
Select from which bank the amount is to be paid from and when it must be paid by.
9
Posting Code
Select the Posting Code if applicable, to populate the Reason section.
10
Reason/Comments
Enter the reason why payment is requested and additional comments with regards to the payment.
11
Payee Details
Select the Contact to be paid by selecting the Contact Options.
The Contacts linked to this file will display.
To view the Bookkeeper Contacts, select the Show More option.
If the payment is not for any contact loaded, select the Edit option.
Please note that the Edit option is permission-based and will allow you to enter your required details manually.
12
Attachments
Attach the Invoice / Statement of the Payee you are paying.
13
Totals
The total amount of payment. This must balance back to the Running Total.
This is very important for split payments.
14
Edit/Delete Payment Account
Select the Edit / Delete to amend or delete the account details.
After all Fields have been completed - users can either Save their requisition to send it to the finance department for processing or Save Drafts to edit and Save for Processing at a later stage.
