Many firms require the ability to receive client funds prior to starting work (in the operating account in addition to the Trust Account). Actionstep’s General Retainer functionality makes receiving funds, paying invoices, transferring funds between matters, and refunding retainers simple yet customizable to suit the specific needs of your firm.
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Global Create Button > Client receipt |
Receive funds
Following the navigation above launches the Receive funds screen.
If you would like to pay existing invoices while receiving funds, check the boxes corresponding to the invoices you would like to pay. If not, leave all boxes unchecked. If the amount being received exceeds the amount that is allocated to invoices, you will see an info box prompting you to choose what you would like to do with those unallocated funds. Here, you can choose to allocate them to the retainer.
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Ex. In the screenshot above, there is a matter AR balance of 2,000.00. However, 3,500.00 is being received. This leaves 1,500.00 that can be allocated to a General Retainer balance. |
Finally, save to allocate funds to the selected matter’s General Retainer balance.
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Global Create Button > Retainers > Pay invoice |
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The General Retainer payment source is only available when the selected matter has outstanding invoices and a General Retainer balance. |
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Funds held in General Retainer can be transferred between matters to pay other bills for matters for the same client by selecting the transfer button on the General Retainer screen within a matter.
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Global Create Button > Retainers > Transfer |
Funds held in General Retainer for a matter can be transferred to other matters. To do this, select the from matter and enter the transfer amount. Next, select the matter to which you’d like to transfer the funds in the Transfer to column of the matter list. To distribute funds between multiple matters, select the +Add row button and select additional matters. Save to apply transfer.
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Retainer transfers can be viewed/edited/deleted from the General retainer screen in a matter. |
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Sometimes a portion of the general retainer is unused, and you will want to reimburse the client.
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Global Create Button > Retainers > Refund |
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See updated article in Actionstep help Center: https://support.actionstep.com/hc/en-us/articles/360054169434-General-Retainers |