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DEPOSITS: HOW TO CREATE, TRACK, AND TRANSFER IN MODELAW
Adding a Deposit
When a new client retains, he pays an Initial Retainer amount and a Deposit amount, usually $1,000.
These amounts are both entered on the same form using New Credit.
During the case or at the end of the case, Deposits can be changed.
A Deposit may be Converted to Credit
Use Advanced Transactions, Deposits, find client’s deposit line and Click the blue link “Convert to Credit”.
This automated feature creates a New Credit with auto fill:
Amount shows full Deposit but the value can be made smaller;
No need for Notes as a default note will say “Transfer from Deposit” after you “SAVE”.
Later if you review the entry using Edit Credit, you will see:
Payment Type: “Transfer from Deposit”
Account Name: “Not a Payment”.
When any New Credit is entered, you will see selection choices for Payment Type: “Transfer from Deposit” and “Transfer to Deposit”. You will probably never select “Transfer from Deposit” because it comes from auto fill per above. Occasionally you may want to select Payment Type: “Transfer to Deposit” or “Payment to Deposit” per below.
When money needs transferred from a client’s ending balance to a deposit:
1. Take it from his account using New Debit; and then
2. Add it to his Deposit using New Credit, select Payment Type: “Transfer to Deposit” and Account Name: “Not a Payment”.
When a client only adds money specifically as a deposit:
Add it to his Deposit using New Credit, select Payment Type: “Payment to Deposit” and Account Name: “Trust” or “Regular”.
Deposit Instructions With Images
1. Enter a new Client’s Deposit using a “New Credit” form like Entry example below.
2. To edit the above Credit/Deposit go to ML Transactions, Credits and find Entry by Client name; then select Option, edit.
3. To determine a Client’s Deposit amount and status, go to ML, Advanced Transactions, Deposits, see below example. Note in this example, only Aucutt, Mark has had his original $500.00 Deposit “Converted” (converted to a credit on his RSR per Step 4 below).
4. To make a partial or full “Transfer from deposit” to a Client’s RSR; go to ML, Advanced Transactions, Deposits, Options and click on “Convert to Credit”. Confirm Client name, enter amount and “Save”, see example below.
5. Upon completing Step 4 above, see Client’s RSR for the “Transfer from Deposit” as a line item, see example below.
Charities We Support
Nevada Youth Empowerment Project (NYEP) – http://nyep.org
Truckee Meadows Housing Solutions (TMHS) – https:// truckeemeadowshousingsolutions .org/
Nevada Humane Society – https://nevadahumanesociety. org/
Good Shepherd Clothing Closet – http://www.gsccreno.org/
Res-que – https://res-que.rescuegroups. org/
Lexie’s Gift – https://www.lexiesgift.com/
Solace Tree – http://www.solacetree.org/
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