This article explores how to post a Matter Surplus Transfer
How to Post a Matter Surplus Transfer
The posting type MST is available when doing a client account posting. An MST transfer’s purpose is to move money from “one side” of the ledger to the other i.e. client to office, vice versa, WITHOUT it touching the banks.
1. To post an MST, go to your Accounts tab and click Client. Look up & select the matter you are posting to:
2. Select the posting type as MST:
3. Fill in information about Date, Reference, and Description:
We then have the debit/credit part which shows which way the transfer will go, either from the client’s side of the ledger to the office or the reverse (office to client).
The easiest way to remember this is by thinking that “the client comes first”. For example, the debit/credit option is the effect it will have on the client’s bank.
If Debit is selected, then the posting will debit the client and credit the office side of the ledger.
If Credit is selected, then the posting will debit the office and credit the client side of the ledger. Finally select post in the bottom right corner.
4. Finally select Post in the bottom right corner. Your ledger may look something like this:
Pay Bill (Leaving in Surplus)
When doing an Office Pay Bill Posting, you will get the option to Leave Funds in Surplus.
This is a normal Pay Bill, however selecting Leave Funds in Surplus means that the monies will move from the client’s side of the ledger to the office, but not change on the banks.
To post a Pay Bill Leaving the Fund in Surplus, go to your Accounts, click Client and Look Up the client/matter. Select Office Pay Bill as the posting type. Select the bill you wish to pay.
On the payment details section, select Leave Funds in Surplus, in the Pay bill From drop down:
Finish the rest of the pay bill as normal and select post in the bottom right corner. Your ledger may look something like this: