Posting memo disbursements

Use this procedure to post disbursements on to the system which have not yet been paid out by the firm on behalf of clients. This type of disbursement is known as a memo disbursement. Memo disbursements are recorded using the Memo Disbursement (MD) posting slip. The posting does not debit the firm's office account at this stage, as it is only a note on the system of an impending disbursement.

It is also possible to bill memo disbursements before they have actually been paid out. This allows clients to be billed for disbursements which are to be paid out some time in the future. This type of disbursement is known as a billed memo disbursement (or not yet paid (NYP)). Once memo disbursements have been paid out they can then be converted to actual or 'real' disbursements. This involves using the same procedure as for posting disbursements, but selecting the memo or billed memo disbursement you want to convert.

To post a memo disbursement:

1. From the Accounts button drop-down menu, select MD. The Memo Disbursement posting slip opens prompting you to enter the posting details.

• You can also open the posting slip from the Batch Posting screen, if this is your preferred method of working. In the top pane highlight the MD batch (or add it if it not already open) and then click Add in the lower pane.

2. Enter the posting details.

3. Select Update Now to post the entry directly to the Accounts Ledger.

• If you want to add the entry to a batch for checking, select Add to Batch.

4. Click OK to post the memo disbursement. The entry appears on the Disbursements tab of the Accounts Ledger with a date in the Memo column.

• Double-clicking a memo disbursement opens the Disbursement Viewer. This displays details of the memo disbursement such as; the amount, the transaction text, the date it was posted, etc.

Note

• Presets can be used for posting memo disbursements.