This article describes the fields in the Payment Requisition module.
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.
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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.
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Payment Requisition Module Fields
| # | Field | Description |
| 1 | Account Type | Select the account type the payment is for. |
| 2 | Payment Method | Select whether the payment should be by Cheque or EFT. |
| 3 | Pay From | Select whether the payment should be from the Business or the Trust. 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 on 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 that 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, select the Edit option. Please note that the Edit option is permission-based. |
| 12 | Attachments | Attach the invoice/statement of the payee. |
| 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.