How do you handle overpayments, checks that don’t clear the bank, or checks entered for the wrong account? Make a payment adjustment! Payment adjustments can be used to refund or reverse payments.
When a client pays more than is due, you may want to refund part of the payment. To perform a refund, the payment must have been final billed and updated. Additionally, only the unapplied portion of a payment can be refunded.
In some situations, you may need to reverse the entire payment. Typically, this is because either a check didn’t clear the bank or a payment was entered into the wrong account. Like refunds, a payment can only be reversed if it has already been final billed and updated. However, payments can be reversed regardless of whether a portion is currently unapplied or not.
When refunding or reversing payments, the following integration options are available, when applicable:
- When you are set up to process credit cards, and the payment was originally processed via credit card, you will be prompted whether or not to process the adjustment through the processor.
- You will have the option to write a check for the amount (when integrating with AP), create a payment to another client, deposit the amount into client funds, or just record the adjustment.
- When integrating with GL, you will have the option of specifying a date for automatic journal entries.
To reverse or refund a payment
- In the Quick Launch, search for and select “Payment Adjustment.”
- Select the Client ID.
- In the Reference field, select the payment you are adjusting.
- In the Adjustment Information section, select Reversal or Refund.
- Enter the desired Adjustment Date. This date will be used for reports.
- If you selected Refund, enter the desired Adjustment Amount.
- Click OK.
- Click Yes to continue.
- In the Payment Adjustment Options window, select whether you will be writing a check for the adjustment, just recording the adjustment, creating a payment for another client, or depositing the adjustment into Client Funds.
- Click OK.
- If you are integrating with GL and did not select the option to write a check, an Adjusting Journal Entries window will be displayed. Select the date to use for adjusting GL journal entries.
- Click OK.
- In the Payment Adjustment Description window:
- If you want a transaction to be saved to the Fee file, enter a Description and click OK.
- If you do not want a transaction saved to the Fee file, click Cancel.
Payment adjustments provide an easy way to refund an amount to your clients, or to reverse payments when a mistake is made.
Wondering if it’s time to move your firm to Tabs3 Platinum edition? Platinum runs on a client/server model, shifting the heavy lifting for reports, filtering, and more from individual workstations to the server itself, powered by an enhanced version of the Tabs3 database engine. The result is improved performance, reliability, convenience, scalability, and efficiency.
Platinum edition also unlocks a set of exclusive features not available in non-Platinum editions, including Tabs3 Connect, the Client Portal, Check Requests, HotBackup, and Report Accelerators, among others.
For full details on Platinum’s benefits, server requirements, the step-by-step upgrade process, and answers to frequently asked questions, see Knowledge Base Article R12008, “Upgrading to Tabs3 Platinum Edition.”
Our Knowledge Base can be accessed at support.Tabs3.com. You can also access our Knowledge Base in the Quick Launch by searching for and selecting “Knowledge Base.”
Did you know that you can split fees and costs between multiple matters in Tabs3 Billing? Split Billing provides the ability to enter fees and costs once, but split the charges between multiple matters. You must first determine which client you will be entering fees and costs for; this is your “main client.” Next, determine which clients/matters will be splitting the bill, and for what percentage each party will be responsible.
To configure clients for split billing
- In the Quick Launch, search for and select “Client Information.”
- From the Split Billing tab, in the Client ID field, select the desired main client.
- Click the Add button to open the Split Billing Matter window.
- Select the desired Split Matter ID.
- Enter the desired Split Billing Percentages for the split matter.
- Enter the desired Statement Options settings for the split matter.
- Click OK.
- Repeat step 3 for each additional split matter. (Note: This may include the main client.)
- Select the desired Split Fee Options and Split Cost Options.
- Press Ctrl+S.
Fees and costs may be entered before and/or after configuring split billing, but keep in mind that when it comes time to perform the split, only those fees and costs entered for the main client will be split amongst all parties.
When you are ready, you can Perform Split Billing (In the Quick Launch, search for and select “Perform Split Billing”). Transactions that have already been split cannot be split again so this can be run as often as needed. Perform Split Billing must be run prior to generating statements every time to ensure that all transactions are billed appropriately.
If, after performing the split, you need to change the way in which transactions need to be split, just Undo Split Billing (In the Quick Launch, search for and select “Undo Split Billing”). This will revert all split transactions for the selected Main Client ID and Split Billing Ref # that are still work-in-process to their pre-split values. This provides a way to make adjustments as needed.
If you have even one client who splits amounts due with other matters, and you’ve been splitting the fees and costs manually, make your billing easier by using the Split Billing feature in Tabs3.
For more information on split billing features, see Knowledge Base Article R11616, “All About Tabs3 Split Billing.”
Tabs3 Software provides context-sensitive help, but exactly what does that mean? Context-sensitive help means that you can quickly access the Help files based on where you are at in the software. Just pressing F1 on your keyboard will take you directly to the Help file for the window that is currently open in the software.
For example, let’s say you’re on the Billing Preferences tab of the Client file in Tabs3 Billing. You notice the Bill On Demand check box, and wonder what it does. If you press F1, the Help for the Billing Preferences tab is displayed. Click the Bill On Demand link, and you can now read information on the purpose of the check box.
For another example, let’s say you have a Document Management record open in PracticeMaster. You’re not sure what the Automatically Manage Document and Protect Document check boxes are for, so you press F1 and the Help for the Document Management File is displayed. Scroll down to the File Information section, and information is provided for both check boxes.
Keep in mind that all information about fields and features may not be contained in a single Help topic. When a field or feature relates to additional topics, we provide links to those topics to learn more.
Note: The Help files provide general information on accessing and using the software, including information on every individual field. For information on troubleshooting the software, refer to our Knowledge Base instead.
Do you want to accept electronic payments, but aren’t sure where to start? Knowledge Base Article R11871, “Tabs3 Pay Frequently Asked Questions,” provides information regarding using Tabs3Pay for electronic payment processing. Included in this article are questions regarding getting started, setting up and using credit card processing, integration, and online payments.
Our Knowledge Base can be accessed at support.Tabs3.com. You can also access our Knowledge Base in the Quick Launch by searching for and selecting “Knowledge Base.”