Yes, however it is important that you run your aged debtors report as part of your month end procedure and review its contents for effect credit control.
Rule10.4 of the Solicitors Accounts Regulations, 2001 2001 421 Statutory Instrument states: - A solicitor shall, without delay, record as a debit on the office side of the relevant clients' ledger account the amount of professional fees in any bill of costs furnished to a client.
Depending on your initial accounting method setup, the software will show the full VAT liability in the balance sheet, however from the month end menu select the VAT report and select the reporting method “Cash Receipts” report, this will only show the tax liability on cash received.
VAT on a Cash Receipts basis, is tax paid on moneys received, you need to have a certain turnover limit and will need to apply to Revenue, speak to your accountants for advice. VAT on an Accruals basis, is a full vat system, which means that you pay tax once the bill is issued and not as the payments are received. In order to help you, consult the Law Society of Ireland Accounting Rules in particular 10.4
Set up banks for the Petty Cash and Land Direct Accounts, this is the easiest way to record the outlay, however this may not always be the case, if you are in doubt please contact your accountants for advice.
Contact your Accountants and seek their advice. eXpd8 can be on site for the initial visit, this is complementary, please contact us as soon as possible.
To take a back of the system and restore to your Accountants check out chapter 3 of our user manual. You should note that when you accountant gives you back the software, any files or time that you have passed will be over written. The best approach here is to give your Accountant a remote log in, that way you can avoid the hassle of “Disconnecting” the software from eXpd8 Case Management. If you are unsure about this please contact a member of our support team for assistance.
eXpd8 can put you in touch with a legal bookkeeper if you need assistance with bookkeeping itself as opposed to support on the software.
Yes. You should reverse this transaction and set up another cheque to print. Clear the printer of the jam.
Please contact our support team for assistance.
Family Law Legal Aid is a little different then Criminal in that you may not know the fee income for the file until the payment is processed to your bank account. It’s a good idea to track these files in eXpd8 Case Management so that you can be sure that you have received payment for the Legal Aid Board.
You should contact support immediately. Never ignore ANY errors in your system!
Check to make sure that in the system settings that the VAT rate is correctly set. Ensure that you have not entered a vatable outlay as this will throw out your VAT calculation.
This means that all of the licenses that you have purchased are in use, please contact a member of our sales team!
"When I set up in business I wanted to ensure that I was organised and in compliance with the Solicitors Regulations from the start. Expd8’s case management and accounts systems have more than facilitated that. Prompt customer service, friendly staff, good value and peace of mind all in one! "
James F.D. McElwee, Solicitor, McElwee Solicitors, Co. Laois, Ireland www.mcelweelaw.ie