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Subject Author Date
Attorney questions Ace 09-03-2006
Posted by Ace on September 3, 2006, 2:42 pm
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 I have an acquaintance who is an attorney and he wishes to use QBs Pro to
keep track of his books. How does a judgement for a client get recorded so
he can track payments? He goes to court, gets a judgement, collects the
money, deposits it in an escrow account and he wants to be able to be sure
they pay on time and do not get behind in their payments.



Posted by Joanne on September 3, 2006, 5:09 pm
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>I have an acquaintance who is an attorney and he wishes to use QBs Pro to
>keep track of his books. How does a judgement for a client get recorded so
>he can track payments? He goes to court, gets a judgement, collects the
>money, deposits it in an escrow account and he wants to be able to be sure
>they pay on time and do not get behind in their payments.

The only way I can think of is to create an automatic entry for an invoice
each time a payment is due. Credit "Judgment Receivable - Client Name" and
debit "Accounts Receivable." This way, you can see an A/R Summary Report
which will age the unpaid A/R.

When payment is received, Receive Payments and apply to A/R - not the
judgment. This is a bit awkward. I hope someone has a better solution.

--
Sincerely,
Joanne

If it's right for you, then it's right, . . . . . for you!!!

http://www.jobird.com





Posted by Ace on September 3, 2006, 5:34 pm
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Thank you, Joanne. Would this be a "pass-thru" type of account?
>
>>I have an acquaintance who is an attorney and he wishes to use QBs Pro to
>>keep track of his books. How does a judgement for a client get recorded so
>>he can track payments? He goes to court, gets a judgement, collects the
>>money, deposits it in an escrow account and he wants to be able to be sure
>>they pay on time and do not get behind in their payments.
>
> The only way I can think of is to create an automatic entry for an invoice
> each time a payment is due. Credit "Judgment Receivable - Client Name"
> and debit "Accounts Receivable." This way, you can see an A/R Summary
> Report which will age the unpaid A/R.
>
> When payment is received, Receive Payments and apply to A/R - not the
> judgment. This is a bit awkward. I hope someone has a better solution.
>
> --
> Sincerely,
> Joanne
>
> If it's right for you, then it's right, . . . . . for you!!!
>
> http://www.jobird.com
>
>
>
>



Posted by Allan Martin on September 3, 2006, 7:17 pm
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>
>>I have an acquaintance who is an attorney and he wishes to use QBs Pro to
>>keep track of his books. How does a judgement for a client get recorded so
>>he can track payments? He goes to court, gets a judgement, collects the
>>money, deposits it in an escrow account and he wants to be able to be sure
>>they pay on time and do not get behind in their payments.
>
> The only way I can think of is to create an automatic entry for an invoice
> each time a payment is due.


Credit "Judgment Receivable - Client Name" and
> debit "Accounts Receivable." This way, you can see an A/R Summary Report
> which will age the unpaid A/R.
>
> When payment is received, Receive Payments and apply to A/R - not the
> judgment. This is a bit awkward. I hope someone has a better solution.

I agree, your solution would not be my first choice nor my last. I do give
you credit for qualifying your response.




>
> --
> Sincerely,
> Joanne
>
> If it's right for you, then it's right, . . . . . for you!!!
>
> http://www.jobird.com
>
>
>
>



Posted by Gil Faver on September 3, 2006, 7:42 pm
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>
>>
>>>I have an acquaintance who is an attorney and he wishes to use QBs Pro to
>>>keep track of his books. How does a judgement for a client get recorded
>>>so he can track payments? He goes to court, gets a judgement, collects
>>>the money, deposits it in an escrow account and he wants to be able to be
>>>sure they pay on time and do not get behind in their payments.
>>
>> The only way I can think of is to create an automatic entry for an
>> invoice each time a payment is due.
>
>
> Credit "Judgment Receivable - Client Name" and
>> debit "Accounts Receivable." This way, you can see an A/R Summary Report
>> which will age the unpaid A/R.
>>
>> When payment is received, Receive Payments and apply to A/R - not the
>> judgment. This is a bit awkward. I hope someone has a better solution.
>
> I agree, your solution would not be my first choice nor my last. I do
> give you credit for qualifying your response.


what would be your first choice?



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