The Accounts Payable system performs the function of recording all monies paid out by the organisation producing relevant documentation regarding cheques, the cheque register and maintaining a full history of all monies paid. The system supports the payment of monies by cheque and by direct bank deposit, the latter function producing payment details for directly interfacing with the firm’s bank. Monies paid out may be disbursed against Matters (trust and disbursements) and against general (non-Matter) items.  Other functions supported include the set up and maintenance of a periodical payment register for those creditors paid on a recurring basis, the reporting of missing cheques, and full integration with the Purchasing System. 

From an accounting perspective the system supports accrual accounting and complies with Australian GST requirements.  Please see LawMaster and the GST for details.

Payment data is held for a period of 7 years after which it is automatically purged by the system as part of the end of year process.

 The system supports the recording of payments (at the allocation level) for Matter costs, Matter trust, and direct allocation to general ledger accounts. When a payment transaction (Voucher) is entered in the system, Matter records are updated at the same time. With respect to Purchase Orders, LawMaster enables the order amount outstanding to be updated directly when an allocation record is processed.

 An inwards correspondence item may be linked to a Payment Voucher for reference.

 As part of end of day processing the system passes summarised entries to the general ledgers.

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