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Client Invoices for Contingency Matters - Advanced Costs - Soluno

Client Invoices for Contingency Matters - Advanced Costs - Soluno
Client Invoices for Contingency Matters - Advanced Costs - Soluno
Written by
Paul W Carlson, CPA
Published on
Dec 13, 2023

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

Hi, this is Paul Carlson, CPA with Law Firm Velocity. Thisvideo, we're creating an invoice for advanced client costs on acontingency-based matter. That within Saluno, we have to create an invoice tomove advanced client costs from work in progress into accounts receivable so wecan apply the client payment, and Saluno's also correctly capitalize all of theadvanced client costs. And through the process, we remove the money from workin progress into accounts receivable and we can apply the payment. And so let'sjump into creating the bill.


We go to billing, we go to request invoice. We're going tomake these settings for today. For contingency-based firms, we typically createone invoice at a time because we only have one matter settling today, so it'sjust one invoice at a time. We're not going to batch create invoices like youwould for an hourly-based firm. And the way this system works is this tab isused to create invoices, this tab is where you review the charges and makechanges, and this tab is where the invoice is finalized and released.


So from here, these are the settings we're looking for. Sowe want to send this to review charges. So in the review charges, draftinvoices are sorted by responsible attorney. And so here's our invoice for the3,525. So let's click the pencil to see the detail behind the invoice. So wehave no time on the invoice. We have our two advanced client costs we're tryingto bill out, we have retainer information and we have trust transactions. So inthis case, we have $100,000 trust already in the matter. And this is the thirdtime I've tried to run this example video. So we already have two payments out.


Typically, you won't see the repeated amounts. And thatall looks good. So we click okay. If there's already money in trust for theinvoice, we can enter the amount to apply to trust here. Once this invoice isreleased, then Saluno will make the transfer to move money from trust tooperating that. It puts a check into the check payment queue. From here, we'regoing to click the invoice. We're going to say, "Yes, send this torelease." And from this tab, we have this invoice that's been edited andwe're ready to release to the client. So let's quick take a look at the PDF.And here we have our PDF. We have our advanced client costs on our invoice. Wecan go back to Saluno and say finalize.


And with that, we've finalized our invoice and we can usethat to accept payments. Thanks.