Bookkeeping 101 for Lawyers

This page is designed to assist Lawyers with some of the 101 of Bookkeeping using Wise Owl Legal.

Each topic listed below has either links to existing pages or assistance on that particular topic. Click on the links below to skip to that section.

Benefits of keeping your bookkeeping up to date:

When do I use a Recovery and a Disbursement? How do I record them?

https://help.wiseowllegal.com.au/pages/viewpage.action?pageId=25002012

https://help.wiseowllegal.com.au/display/WOH/Disbursements+-+New+Purchase

https://help.wiseowllegal.com.au/display/WOH/Recoveries+-+Enter+Data

How to record an EFT Payment from Trust

https://help.wiseowllegal.com.au/display/WOH/Trust+Accounting+-+New+Trust+Payment

How to prepare a Trust transfer to General - if no auto fill - run trust transfer report & work from that

with both written explanation and & Video link

Please see this link Trust Transfer to General to read how to prepare a Trust Transfer to General

Please see this link xxx to watch a video on how to prepare a Trust Transfer to General

While there will be an autofill option for Trust to General transfers in the future, currently you will need to run a Trust to General Transfer report and work through the matters that you wish to make transfers for.

To access this report, go to the Reports tab click on the Finance heading.
On the bottom right, under the Trust Transfer List heading, click on Invoices for Trust Transfer Excl Draft
Select View from the menu to see the report in the browser or Download to save it to your computer.
You are then able to review each invoices separately including the amount outstanding on an invoice and the amount remaining in trust.

How to run a deposit slip from Wise Owl for Trust or General

Trust

https://help.wiseowllegal.com.au/display/WOH/Trust+Accounting+-+Bank+Deposit

General

https://help.wiseowllegal.com.au/display/WOH/How+to+prepare+a+General+Deposit+Slip