This article details the Matter Posting Guide for Insight™ Legal.
Insight Legal is compliant with SRA & Law Society Regulations. For details on the current regulations, please visit the regional website.
To comply with regulations, Insight will issue a warning if you are about to overdraw the client account or if the office account goes into credit on any matter.
Postings on Insight are very straightforward. For clients, they are carried out under the Accounts > Client. On any ledger card, this is the recommended step for postings for clients after you have created the Client & Matter.
C2 - Client Cheque
Clients may supply money on account for services yet to be carried out. If this happens, a credit is done to the Client Account using the C2 posting. Should funds need to be repaid to the client (e.g., proceeds from a property transaction), then a C2 debit posting would be entered.
| See Insight guide - Posting a Client Cheque |
C4 – Client Disbursement
If a client has supplied money on account, regulations state that any costs incurred on behalf of the client are to be paid from the client's account using client monies.
| Client disbursements can be included on a bill, as a narrative to inform the client that a disbursement was paid on their behalf using their funds. |
O4 - Office Disbursement/Outlay
Disbursements or Outlays are costs incurred by the Solicitor Firm on behalf of the client. This posting would be used if the Office is paying a disbursement on behalf of the client, to be added to a bill at a later date.
| See Insight guide - Posting a Disbursement |
C5 – Client Transfer/O5 – Office Transfer
Client Transfers can transfer client funds to another matter (e.g., property sale/purchase matters) or to a nominal account (e.g., small client balance to be paid out to charity). An Office transfer can also be used to transfer funds on the office ledger to another matter or to a nominal account.
| See Insight guide - Posting Matter Transfers |
O6 – Office Bill
This posting will raise an invoice/bill for the client. When raising a bill, you can include any time that has been recorded against the matter and any disbursements that have been recorded on the office ledger. You can also choose to include any client disbursements (as a narrative) in the bill.
| See Insight guide - Posting an Office Bill |
O1 – Office Pay Bill
This posting will allow the Firm to pay the bill that has been raised (in part or in full). You will have the option to either Pay Bill From: Direct To Office, Transfer From Client, Transfer From Another Matter, or Transfer From Nominal.
| See Insight guide - Posting an Office Pay Bill |
O8 – Office Cancel Bill
This posting will allow you to cancel a bill that has been raised incorrectly as long as it is outstanding and has not had a payment allocated against it. This reverses the bill entirely and allows any time and/or disbursements to be added to the new bill.
OA – Office Credit Note
This posting raises a credit note for costs and VAT. This puts a credit line on the office ledger. You can also reduce the Fee Earners' income also via this posting. If you tick the ‘Credit Note Paid’ box then you would refund the client by using the O2 - Office Cheque posting for the amount of the credit note raised.
OCB – Office Credit Note Bill
This posting is used to reduce the amount of costs outstanding on a bill. You select the bill you wish reduce, this will also reduce the Fee Earners income. However, if you wish to record this as a bad debt please refer to our Write Off’s guide.