Tag Archives: Receivables

Email clients automatic payment receipts

Quickly acknowledge client payments with automated receipts

Lesson #162
Receivables – Send Payment Receipts function

After posting payments for outstanding invoices, send receipts to clients. You can customize the subject line and contents of your company’s email receipt, then use this function to automatically send receipts to clients.

In Send Payment Receipts, the post date defaults to today and the recipient defaults to Bill To clients (companies responsible for paying the invoices). You can select a different date to view payments for and change the recipient to Sold To clients (companies that ordered your services or are otherwise responsible for a job). You can also restrict the results to only payments posted by a specific staff member.

Payments in the results list include:

  • Post date
  • Payment type
  • Check number
  • Amount
  • Who issued the check (if different from the Bill To firm)
  • Who posted the payment
  • When posted

With a click you can view which invoice(s) any payment in the list has been applied to, along with invoice information such as:

  • Invoice amount
  • Balance
  • Any adjustments made
  • Fees
  • Additional charges
  • Basic client info

Automatic email receipts

Select all the posted payments or only specific ones to send receipts for. Payment receipt emails will automatically include the payment receipt as the body of the message. RB9 comes with a default payment receipt form that you can customize. Or you can create your own. Customize the Subject line of payment receipt emails with default text and RB data fields in System Preferences. 

You can preview the emails before they are sent. In preview mode, you can:

  • Edit the subject line
  • Edit the message
  • Change the recipient
  • Change the sender
  • Add Cc’s and Bcc’s
  • Attach files

After sending the email, RB notes the result in the Send Payment Receipts grid, and records the email in the Email Log (RB9 function only), so you can refer back to it later.

TL;DR: Send clients customized receipts acknowledging posted payments.

RB concepts in this lesson

Bill To client: Client responsible for paying the invoice for a job.

Job: Usually the reporting of a deposition, but can also be any kind of service you provide with your reporters or other resources. More >

Sold To client: Client responsible for a job with your company

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Set preferences for receipts & statements

Customize the subject line of payment receipts, and set up templates for your company’s statements and the accompanying emails

Lesson #134
Setup – System Preferences function

Receivables System Preferences

Set the subject line for payment receipts. Choose a statement template based on your company’s payment options, and set other statement options.

Payment Receipt

Enter default text and RB data fields into the subject line for receipts you send clients for payments received. (Set up receipt forms in Form Templates.)

Statement

Before sending statements to clients, choose your default statement template plus other invoice options, and customize the email that accompanies statements. You can also customize which colors are used to color code open-invoice listings on statements by invoice age. These choices are system-wide.

You have 4 statement templates to select from:

  • Standard RB statement with a remittance section at the bottom of the statement
  • Statement without a remittance section
  • Statement with a credit card payment section that accepts American Express, MasterCard, and Visa
  • Statement that accepts only MasterCard and Visa

You can also have RB automatically include both the client firm’s main phone number & fax number (if they have one) below the address on printed statements.

If you email clients their statements, you can customize the email that accompanies statements. Similarly to invoice emails set up in Billing preferences, you can change the default text in the Subject and Message fields and insert contextual data fields, so that real data from RB related to the billed contact and firm merge into the email automatically. You can also customize the appearance of the body of the emails with text formatting, colors, images, hyperlinks, and tables.

The statement itself will attach to the email as a PDF. And you can override the defaults set here in any statement emails sent from RB.

Color code the age of invoices listed on statements to help older invoices stand out. You select which colors to use for different time periods (over 30–over 180). You can export the list as an Excel spreadsheet or a CSV (comma-separated values) file to save, print, share, or use in other applications.

TL;DR: Customize the subject line of payment receipts, and set up templates for your company’s statements and the accompanying emails.

RB concepts in this lesson

Bill To Contact: The contact responsible for paying the invoice for a job.

Bill To Firm: The firm responsible for paying the invoice for a job.

Contact: Person who works for a firm you do business with, such as attorneys, paralegals, secretaries, legal assistants, claim adjusters, and court clerks.

Firm: Company you do business with.

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Forecast future income from collections

Use Collection Forecast to see what income you can expect from your collection efforts

Lesson #62
Receivables – Collection Forecast function

When a client promises to make a payment at a future date on an outstanding invoice, record it in their RB9 records, then you can project increases in your cash flow based on the promised payment dates and amounts of outstanding invoices.

The Collection Forecast lists all of the clients with payment-promised dates and amounts for a specified period, so you can forecast cash inflow to your business.

The promised date defaults to today, but you can select any date range to view. You can also narrow results to clients tied to a single collector in charge of collecting their overdue payments. For example, if you want to see only those accounts that are your responsibility. Based on the amounts and dates promised by clients for outstanding invoices, you can forecast cash inflow to your business.

Listings in the results display the firm name, the promised date and amount, and the collector. A total amount of all the listed amounts is included at the bottom.  You can sort your results in the grid by one or more columns in ascending or descending order (but when you exit the function, RB9 will revert back to the default order). Export the list as an Excel spreadsheet or a CSV (comma-separated values) file to save, print, share, or use in other applications.

You can also monitor your collection progress with clients, document new attempts, and view graphs of clients’ account activity by clicking a hyperlinked firm in the Collection Forecast results to view the firm’s collection history and account overview.

NOTE: This is an RB9-only function. It is not included in RB Lite.

TL;DR: Project changes in your cash flow based on the promised payment dates and amounts of outstanding invoices listed in this function.

RB concepts in this lesson

Firm: Business you provide services to, usually law firms.

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Monitor collection efforts

Keep your collection efforts on track by following up as scheduled and documenting your activities

Lesson #61
Receivables – Collection Follow-up function

After running the Aged A/R report to find clients who owe you money and contacting them, start tracking your collections actions and your client’s responses in their records in your RB9 database. Use this function to pull up a list of past actions and reminders to keep collections tasks on track. You can go directly into individual firms from this function to get contact information, record their responses and promises, make notes, and set reminders for further follow up.

Instead of trying to remember who needs to be followed up with about an overdue invoice and when — or writing reminders in a separate calendar — use RB9’s collection tools including the Collection Follow-up function. Collection Follow-up lists all previous collections actions recorded in RB9 for all clients with overdue invoices within a specified date range.

You can see at a glance:

  • Which firms with overdue invoices you have contacted/taken action on.
  • What kind of action was taken and when.
  • Who on your staff should be reminded to follow up with the client and when.
  • Your designated collector on the account.
  • Any notes about the action taken.

You can search Collection Follow-up by:

  • Dates actions were taken
  • Dates someone in your company was/will be reminded to take action by the internal notification system
  • Types of action taken (such as call made or statement sent)
  • Assigned collector

Listings in the results display the firm name followed by:

  • Info from the search categories above
  • Person responsible for following up
  • Any notes made about the collection attempts

You can sort your results in the grid by one or more columns in ascending or descending order (but when you exit the function, RB9 will revert back to the default order). Export the list as an Excel spreadsheet or a CSV (comma-separated values) file to save, print, share, or use in other applications.

You can click any listed firm to view their collection history and other client information, such as their phone number. And you can:

  • Record your current collections effort.
  • Set a reminder date and time.
  • Designate which staff to remind.
  • Enter notes about the action/reminder.

At the designated time, RB9 will send the staffer an automated message through Notifications and Messages with a link to the firm’s records, so they can quickly take action.

Periodically review Collection Follow-up to see what progress is being made with overdue clients and if anything is falling through the cracks.

NOTE: This is an RB9-only function. It is not included in RB Lite.

TL;DR: Keep your collection efforts on track by contacting overdue clients as scheduled, tracking responses and promises, and setting reminders.

RB concepts in this lesson

Firm: Business you provide services to, usually law firms.

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Send clients detailed collection letters

Send clients collection letters via email or traditional mail with all relevant details automatically filled in

Lesson #60
Receivables – Collection Letters function

If you want to send collection letters to clients instead of or in addition to calling them, RB9 includes a set of customizable collection letters. You can print and mail them traditionally, or email them directly from within RB9.

Collection letters are part of RB9’s collection toolbox, making collections easier and more productive. After running the Aged A/R report to find clients who owe you money, use collection letters are part of your efforts to contact them. RB9’s collection form letters automatically include client and invoice details from your RB database. RB9’s collection form letters are fully customizable, and you can create new ones to cover all of your collections’ situations in the Form Templates function.

You can access the Collection Letters function from RB9’s main menu or within the Aged A/R function, which gives you a head start by selecting all of a client’s outstanding invoices for you.

Target your letters

You generate collection letters for one client firm at a time, and you can choose to send letters to either the firm that is responsible for paying for the invoice(s), or the firm that scheduled the job(s) the invoices(s) are billing.

After selecting the firm, you can choose to generate letters regarding invoices for:

  • A single contact
  • All of the contacts at the firm
  • All overdue invoices
  • A particular date range
  • A single case
  • One, some, or all of your company’s business units

Search results listings include all of the search categories plus invoice number, amount, and balance. You can sort your results in the grid by one or more columns in ascending or descending order (but when you exit the function, RB9 will revert back to the default order). Export the list as an Excel spreadsheet or a CSV (comma-separated values) file to edit, share, archive, or print.

Customize letters

When you are contacting a client regarding multiple overdue invoices, you can send one letter to the client that compiles information about all of the selected invoices; or multiple letters, with each letter including information about a single invoice. Whether you are sending letters regarding one invoice or multiple invoices, you choose which collection letter template you want to use and whether you are sending the collection letter(s) via email or print.

Whether emailing or printing collection letters, you can review and edit the contents generated by RB9 before emailing/printing the letter.

When emailing collection letters, you add a custom Subject line, and you can add invoices or other files from your desktop as attachments if desired. RB9 records the email sent in the Email Log function in Tools, so you can refer back to it later. (When emailing collection letters for multiple invoices, we do not recommend using the send one collection letter per invoice option because it will embed multiple collection letters in one email body.)

If email isn’t appropriate for collections, you can have RB9 compose collection letters in a print-friendly format, which you can review and edit in RB9’s word processing interface, then send via traditional methods.

Follow up letters

After sending a client a collection letter, make an entry in the firm’s Collections Notes Log to keep a record of your actions, and set a follow-up reminder date in Collections Follow-up to have RB9 remind you when you should check in with the client again.

NOTE: This is an RB9-only function. It is not included in RB Lite.

TL;DR: Send clients collection letters via email or traditional mail with all relevant details automatically filled in.

RB concepts in this lesson

Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately.

Contact: Person who works for a firm you do business with.

Firm: Business you provide services to, usually law firms.

Job: Usually the reporting of a deposition, but can also be any kind of service you provide.  More >

Notes Logs: Un-editable internal-use only notes entered either by a user or automatically by RB appear in chronological logs.

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View all voided invoices for a set time period

Lists all invoices voided within a specified period, from oldest invoice to most recent

Lesson #59
Receivables – Voided Invoices function

Quickly see which invoices were voided today, or use search criteria to find all invoices voided within a specified period, from oldest invoice to most recent.

The default view is all invoices that were billed and voided today. To find other voided invoices you can use a different date range and search by:

  • Invoice date
  • Date the invoice was posted
  • Date the related transaction was posted
  • Date the invoice was voided

You can limit the results to those of one or several of your company’s business units.

See important details upfront

In the results returned, you can see at a glance:

  • Invoice number
  • Invoice date
  • Invoice amount
  • Resource pay (so you can void the resource’s pay if that is your policy)
  • Any sales tax charged
  • Void date
  • Who in your company voided the invoice
  • (If it was re-billed) the re-billed invoice number
  • Firm billed
  • Relevant contact at the firm
  • Job number
  • Job date
  • Related case
  • Your company’s assigned business unit

You can sort your results in the grid by one or more columns in ascending or descending order (but when you exit the function, RB9 will revert back to the default order).

View & edit individual invoices

You can drill down to see details about an individual invoice, such as:

  • Services ordered
  • Related resource pay
  • Sales commissions
  • Any payments or other receivable transactions
  • When the void was made

You can edit some details, upload/download files, and makes notes in the log.

Export the list of voiced invoices as an Excel spreadsheet or a CSV (comma-separated values) file to save, print, share, or use in other applications. You can also export individual invoices’ breakdowns of charges for service items ordered and what resources were paid for them, payments or other transactions to date, list of files in the invoice’s repository, and the notes log.

NOTE: This is an RB9-only function. It is not included in RB Lite.

TL;DR: Lists all invoices voided within a specified period, from oldest invoice to most recent.

RB concepts in this lesson

Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately.

Contact: Person who works for a firm you do business with.

Firm: Business you provide services to, usually law firms.

Job: Usually the reporting of a deposition, but can also be any kind of service you provide with your reporters or other resources. More >

Notes Logs: Un-editable internal-use only notes entered either by a user or automatically by RB. More >

Repository: Where you store files in RB for safekeeping and quick retrieval.

Resource: Person or thing that provides your business with a service.

Service items: Regular charges that you bill to your clients.

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View all paid invoices for a set time period

Lists all invoices paid within the specified period, from first paid to latest paid

Lesson #58
Receivables – Paid Invoices function

Quickly see which invoices were entered as paid today, or use search criteria to find all invoices paid within a specified period, grouped and sorted by the payment date or when the transaction was posted. You can also limit the results to those of one or several of your company’s business units.

In the results returned, you can see at a glance:

  • invoice number
  • Date
  • Amount
  • Payment date
  • Payment amount
  • Any balance remaining
  • Firm billed
  • Relevant contact at the firm billed
  • Job number
  • Job date
  • Related case
  • Your company’s assigned business unit

You can sort your results in the grid by one or more columns in ascending or descending order (but when you exit the function, RB9 will revert back to the default order). Export the list to edit, share, archive, or print.

You can drill down to see details about an individual invoice, such as the service items billed, related resource pay and sales commissions, and the breakdown of charges included in the payment. You can also download the related invoice PDF from the invoice repository or resend it to the client, and edit some invoice details.

NOTE: This is an RB9-only function. It is not included in RB Lite.

TL;DR: Lists all invoices paid within the specified period, from first paid to latest paid.

RB concepts in this lesson

Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately.

Contact: Person who works for a firm you do business with.

Firm: Business you provide services to, usually law firms.

Job: Usually the reporting of a deposition, but can also be any kind of service you provide with your reporters or other resources. More >

Repository: Where you store files in RB for safekeeping and quick retrieval.

Resource: Person or thing that provides your business with a service.

Service items: Regular charges that you bill to your clients.

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Lesson #57
Receivables – Client Account Activity function

This report lists each client’s posted monthly activities, grouped by business unit, plus a grand total outstanding balance. Monthly activities include:

  • Invoices
  • Payments
  • Credit memos
  • Debit memos
  • Duplicate payments
  • Refunds
  • Voids
  • Write-offs

Invoices in the list include the remaining balance due, number of witnesses deposed, number of pages billed with the invoice, and if applicable, the associated case number and case name. Payments and other receivable transactions include the check number or notes about the transaction, such as the reason, payment method, and transaction fees.

Generate custom activity reports

The default report is for the previous month, but you can set any date range to generate a report for. You can generate reports that show activities by the ordering parties or the parties responsible for paying the invoices (such as insurance companies). You can generate reports for all firms, a single firm, or to see all activity across one multi-branch firm, broken down by branch office. You can limit results to one or more of your company’s billing rate groups and/or business units.

From your search criteria, RB9 generates a static monthly report listing all applicable transactions in chronological order grouped alphabetically by client on separate pages for each of your business units, plus a final page that lists the grand total balance, total number of witnesses, and total pages billed. The report’s footer will display which search criteria you used to generate the particular report with the exception of blank search fields or ALL list selections. If you select two or more items in a list, the report will display that as “(multiple values selected).”

You can search for a word or phrase in the onscreen report. RB9 will highlight all instances of your searched word/phrase in the report and list them in a scroll box along with the page number where they occur. Print the report or export it in a variety of formats to save, share, or edit in another application.

NOTE: This is an RB9-only function. It is not included in RB Lite.

TL;DR: Lists all activities for the month, plus all unpaid invoices for each client.

RB concepts in this lesson

Billing Rate Groups: Umbrella structures that categorize your billing rates. Instead of one long list of billing rates, Billing Rate Groups create a series of shorter lists to search through.

Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately

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Remind clients of overdue invoices

Send clients monthly statements listing their overdue invoices to prompt payments. Include the current invoices or send overdue invoices instead of statements

Lesson #56
Receivables – Send Statements function

RB can generate monthly statements that summarize clients’ overdue invoices. Send these monthly statements and/or open (overdue) invoices to clients either by email or regular mail.

Attorneys receive separate statements unless their firm is flagged to consolidate statements in which case the consolidated statements would be sent to “Accounts Payable” at the firm’s billing address.

Statements list overdue invoices including the date, number, balance due, related job number and date, witness, and case for each invoice. Overdue invoice listings are color coded on statements to make older invoices stand out.

Statements can include copies of the invoices that show any payments, credits, finance charges, and the invoice’s current balance. Invoices can be stamped PAST DUE in red to enforce your message. If you or your clients prefer, you can send only the current invoices instead of the statement.

You can include insurance claim numbers on statements. And you can customize your company’s statements including color coding, graphics, text, and payment options. If you send statements by email you can customize the subject line and message of the email that accompanies the PDF statement. You can edit individual emails before sending them and attach additional files if desired.

Generate list of overdue clients

Enter a client’s preferred method of receiving statements — email, print, or don’t send — in their RB firm listing. Then when generating statements in Send Statements you can search for only those clients whose sending method matches the method you are using to send statements. You can choose to search for only email, print, or don’t send clients, or any combination of the three options.

You can search for all open invoices over 30 days old or pick a different date range to include. You can search for all clients with open invoices, search for parent companies to send statements to, or narrow the results to a single firm or parent company.

You can restrict results to specific firm classes (if you rank or rate law firms), firms tied to a single case, and/or firms tied to one or more of your company’s business units.

The results returned list all of the firms that meet the specified search condition(s) along with their outstanding amounts. You can sort your results in the grid by one or more columns in ascending or descending order (but when you exit the function, RB will revert back to the default order). Export the results list of clients with overdue invoices as an Excel or CSV file to archive, share, print, or use elsewhere.

Send statements

From the results returned you can select one, some, or all of the firms to send statements to. Then select the send method such as email statement, statement and invoices, or open invoices only. You have the same options for printing to send via regular mail. For “don’t send statement” clients you can use the print options to generate reports you can export or print for your records or to use otherwise.

If you email statements RB records the emails sent in the Email Log function in Tools (RB9 only function), so you can refer back to them later. RB also makes an entry in the client’s Notes Log that includes the receiver’s email address.

TL;DR: Monthly statements summarize each client’s overdue invoices. Email or print customized statements with or without invoices, or email/print the open invoices without a statement.

RB concepts in this lesson

Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately.

Firm: Business you provide services to, usually law firms.

Notes Logs: Un-editable internal-use only notes entered either by a user or automatically by RB appear in chronological logs in the database record where they occurred. More >

Parent Firm: Headquarters of a multi-branch corporation.

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Find overdue invoices & act on them easily

Set collection priorities by finding the clients who owe you the most for the longest amount of time or by using features in this interactive report to target past due clients. Then use the tools in the report to contact clients with all the facts at your fingertips

Lesson #55
Receivables – Aged A/R function

The first step in collecting a debt is finding out who owes you what and for how long. Aged A/R (Accounts Receivable) reports tell you which clients have unpaid invoices, how much they are in arrears, and for how long. But RB’s version is much more than that.

Multi-tasking tool

RB’s Aged A/R reports are interactive, so after you compile a report, you can click a firm name in the report to get all of their contact info, plus see the record of which collections actions you have already pursued with them. You don’t have to go to a separate function to do collections tasks. You can also click a monthly total to see which invoices are included and view their details.

In addition to viewing firm and invoice details, you can view relevant information directly from the Aged A/R report that you would otherwise go into separate functions to look up. Having this information at your fingertips in Aged A/R saves you time when researching outstanding invoices, making collection efforts, or talking with a client about their invoices.

While the default report ages invoices from today, you can use this function to generate Aged A/R reports for prior time periods too. You can export or print out the report if desired. You can even resend invoices without leaving the function.

Viewing aged accounts receivable

The default report lists clients with unpaid balances in descending order by the ones who have the largest amount outstanding in the oldest time period — the clients you want to go after first. However, you can sort the grid by one or more of the columns, so you can view the list in ascending or descending order by any time period, grand total owed, firm name or number, assigned collector, and/or COD status. (When you exit the function, RB will revert back to the default order.)

You can also choose how many time periods to review. Amounts due from the past to the present are grouped in 30-day increments with the default view being 6 of these time periods in columns, plus 1 column for all outstanding amounts beyond 6 months. You can extend the report up to 12 months, plus the extra column for older outstanding balances.

A final column in the report lists the grand total outstanding amount for each firm. The last row in the report displays grand totals in each column of outstanding amounts for all clients.

In addition to changing the number of the periods displayed, you can further customize the report to:

  • Age receivables from an an earlier date.
  • List firms by who ordered services instead of who was billed for services (if you want to contact the law firms who bought services instead of the insurance companies who will pay the invoices, for example).
  • Group all of a parent firms’ subsidiaries’ amounts into the parent firm’s total, instead of listing all firms separately.
  • Show the invoices for a single firm or a parent firm and its subsidiaries.
  • Show invoices assigned to a single collector in your office.
  • Display only invoices in one or more categories (such as affiliate invoices).
  • Display invoices for one or more business units in your company.

Printing Aged A/R reports

If you want a static report to work with or for your records, you can export it. Aged A/R reports can be exported as an Excel spreadsheet with each client’s overdue amounts broken down by age, plus a list of all of their overdue invoices including basic details. The exported report also includes the grand totals column and row.

If you want an exported Aged A/R report without invoices, you can export it as an Excel spreadsheet or generic file the same way you export other results grids in RB. Once exported with or without invoices, you can print the report.

Viewing client details

You can drill down in an Aged A/R report to see details about a client, their outstanding invoices, and your collection efforts with them to date.

Firm names in RB’s Aged A/R report are hyperlinked to their profiles in your system, so with one click you can pull up all of a client’s contact information, plus the rest of their details instantly including your collections notes to review.

After accessing a firm from the Aged A/R report, you can easily:

  • Contact the firm.
  • Record your current collections action.
  • Enter any notes about the situation.
  • Set a reminder date/time for follow-up.
  • Designate a follow-up person to receive the reminder.
  • Update any other information about the firm, such as an address change.

Viewing invoice details

In addition to the hyperlinked firms, firms’ outstanding balances for each time period are hyperlinked too. Clicking an outstanding balance brings up a list of the client’s unpaid invoices included in that time period’s total, along with basic contact and invoice information, so you can easily refer to specific invoices while on the phone with the client.

Plus the outstanding invoices in this list are all hyperlinked to their details. So you have ALL the facts when talking to the client about getting paid.

When looking at the list of invoices in a client’s Aged A/R detail window, you can:

  • See the client’s basic contact information, such as the firm’s main phone number.
  • View basic invoice information at a glance, including each invoice’s balance due and how many days old it is.
  • Drill down to view/update detailed information about the firm and the collector assigned to the account.
  • Drill down to view an invoice’s details. In addition to listing the services provided and other invoice details, you can use information from an invoice details window to  provide clients with details about the specific invoice’s overdue amounts and any payments or other transactions credited to the invoice. You can also update Bill To and Sold To client information.
  • Resend invoices directly from the client’s Aged A/R detail window.

Shortcuts to other functions

Aged A/R interacts with other RB functions eliminating the need to set search filters to find the relevant client information in those other functions.

You can directly access a Bill To client’s current 90-day payment history from Aged A/R instead of going into the Receivable Transaction Inquiry function and compiling that history yourself.

You can also directly access all of a Bill To or Sold To client’s financial activity with your company from within Aged A/R instead of going to the Client Activity function.

And you can compile and send collection letters for any or all of a client’s outstanding invoices without leaving Aged A/R.

TL;DR: Aged A/R summarizes each client’s unpaid invoices, grouped by when the invoice was due (aging period). It is interactive so you have your complete set of collection tools and invoice information linked into the report to maximize your collection efforts.

RB concepts in this lesson

Bill To Firm: The firm responsible for paying the invoice for a job, usually the firm that scheduled the job but also could be a third-party firm, such as an insurance agency.

Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately.

Firm: Business you provide services to, usually law firms, but can also be other court reporting firms, vendors, insurance companies, corporate clients, and courts.

Sold To Firm: Usually the firm that ordered a job.

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