IdeaLaw enables you to manage your receivables easily and quickly, and to maintain details of invoices issued and payments received listed by client and matter, including aged subtotals. Unique collection/reminder messages can be user-designed to add focused reminders to your A/R client statements, keyed to the age of the outstanding account.
Other accounts receivable features include:
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- A/R Client Statements provide clients with a monthly update on their accounts receivable status
- Collection/reminder messages can be customised to add focused reminders on your A/R Client Statements
- Posting client payments creates a "Deposit Slip" which can be used to replace your manually prepared bank deposit slip
- Aged A/R Report can be printed numerically by client number or alphabetically by client name and includes the contact name and phone number of clients
- Interest can be added to outstanding accounts receivable on client/matters of your choosing at an interest rate you specify
- Define for each of your clients whether they should: be issued A/R Client Statements; charged interest on overdue A/R (and on what age of the A/R); and whether a collection/reminder message should appear on their statements
- Cheques and cash receipts can be totaled separately thus simplifying the month end reconciliation
IdeaLaw enables you to run any number of practices or management companies on a single software licence.