play video
is a Medium Rare UI Kit exclusive to Webflow Templates. Browse more here

Advanced Client Costs - Storing Vendor Invoices in Soluno

Advanced Client Costs - Storing Vendor Invoices in Soluno
Advanced Client Costs - Storing Vendor Invoices in Soluno
Written by
Paul W Carlson, CPA
Published on
Dec 13, 2023

Paul W. Carlson, CPA (00:02):

Hi. This is Paul Carlson, CPA, with Law Firm Velocity. This video we're looking at how to use Soluno to keep track of advanced client cost vendor invoices. So we're going to use an example here because we're doing a lot with contingency based firms. So we're going to get a bill for a $50 medical record that we need to keep a copy of that invoice so when the case settles, we can prove that we spent the $50. But this also applies to other areas of practice. So filing fees for family law firms, expert witnesses, any advanced client cost that the firm pays on behalf of a client.


So the trick here is there's this option to attach the PDF invoice directly into our accounts payable record. So I click that button. On my other screen I'm going just to a regular Windows file popup. So I just selected the medical record and so it added it into the screen so we can click here to see it. And so we have an invoice for a $50 medical records. We're going to close. And so we just quick fill this out. This is Trinity Health. Date is that. We're going to say it's a $50 medical record. Invoice number is that, and this is for client S.


As example, it's a medical record, so we can use activity code so we don't have to type as much and it's for $50. And with this we can click save and this will save this as a payable item into Soluno. And when we have check printing day, just go over to this tab and we can print the couple dozen checks we have for the week, or we can click this button to pay this and mark it paid as a credit card. And that way we keep the ability to keep a copy of the invoice copy with the record. So I'm going to hit save. Okay, so now that we have the medical bill in the system, now let's go look to see how that appears when we're working within the file.


So we need to find client S right there. Hit go. Go to the ledger. And so this brings up a ledger of all the financial activity on the matter. So here we can see we have the trust receipts and disbursements. Here we have hard costs, time, invoices. This is an example. So typically we don't do the settlement before all the costs are in. Well, actually we see that with other firms too.


So here at the bottom we can see we have our three medical records. This is the third time I've gone through making this example. So if we want to see the invoice for that medical record, we can click attachment. And is it downloading it to my second screen?


So here we have the PDF at the bottom of the screen here, and here's our medical record invoice. So by using this process, we can click into the client records and see copies of all of the advanced client cost invoices from vendors and from accounting interesting perspective is these costs are showing up within this record, and we can bill the client for those costs before they've even been paid. A lot of other systems struggle that the advanced client costs don't appear until they've actually been paid. And so the firm will miss reimbursements. With this system as soon as those costs hit the system, we can keep track of them and they're visible. Thanks much. Bye-bye.