Accounts Preferences - The 'Accounts' preference tab
The Accounts system requires that you set a number of preferences and default details. To set the Accounts Preferences, follow these steps.
Accessing the Accounts Preference tab
From the Main Menu, select Tools, then Administrative, then Preferences.
If you don’t have access to this feature, you may need to log into Migration Manager as user Administrator.
In Preferences, select the Accounts tab.
The Accounts Preferences are made up of 9 sub-tabs.
The Accounts sub-tab allows you to set the general Accounts settings.
1.1. Accounting Basis
First, select whether you run your accounts on a Cash or Accruals basis. You will need to obtain advice from your accountant to determine which accounting method you use.
1.2. Financial Year End Date
This date is used for calculations throughout Accounting Reports.
1.3. Date to Lock Clients Accounts to
You can optionally, select a date to lock the accounts to. This option limits the ability to create transactions on or before this date and can be useful if a bank reconciliation has been performed and you wish to prevent users from entering transactions that would render the bank reconciliation invalid.
Note: If you select a lock date, users will not be able to create transactions on or before this date unless they have been given permission to do so in the User-Level preferences. The exception to this is fees and costs, which are not affected by the lock date because they don’t affect the bank reconciliation
1.4. Invoice Due
The Invoice Due Days setting allows you to set the default due date for all invoices generated. Note that this can be over-ridden on Matter by Matter and an invoice by invoice basis.
1.5. Deposit Requests
The Deposit Requests Due Days setting allows you to set the default due date from all Deposit Requests generated. Note that this can be over-ridden on an individual Deposit Request basis.
1.6. Default Tax Codes
Next set the Default Tax Codes which will apply in the listed circumstances.
1.7. Default Bank Accounts
Next you will need to specify your default Client and Office Bank Accounts. To setup new Bank Accounts, you can either click the ‘lookup’ button to the right of the field, or use the Bank Accounts function.
For full details on setting up BPAY, see BPAY Settings.
2.1. Add the Biller Code to your Bank Account
Before you can enable BPAY, you must first add your Biller Code to the relevant Bank Account(s) which you have set up and registered for BPAY.
Note: It is important that you make sure you record the correct Biller Code against the correct Bank Account as the Biller Code determines which business and which account the funds will go in to.
2.1.1. Select the Relevant Bank Account
In the Bank Accounts panel, select the relevant Bank Account you wish to add a Biller Code to and then click the Edit button in the bottom right hand corner.
2.1.2. Add the Biller Code
When the edit window appears, add the relevant BPAY Biller Code and then click Save & Close.
2.2. Set the CRN Generation parameters
Next you will need to set how you will generate or record BPAY Customer Reference Numbers (CRN). In Migration Manager, you have two options:
- Unique - this option allows you to create and your own CRNs. if you select this option Migration Manager will not auto generate CRNs for you. This option is best used in scenarios where you use another system or process to generate BPAY CRNs and just want the ability to record those numbers in Migration Manager so that they appear on Invoices and/or Deposit Requests.
- Random - this option will automatically generate CRNs with the number of characters selected in the Length field (the default length including the check digit is 7 numerical characters, but you can go up to 20).
Note that if you choose Random you can also set the Check Digit Formula to either MOD10V05 or MOD10V01 depending on your financial institution's requirements.
2.3. Set the CRN Options
You will now need to specify whether CRNs should be generated on a per matter basis or on a per invoice or deposit request basis.
- Use one CRN per Matter - select this option if you want to have just one CRN for a matter that will be used for all of the invoices and/or deposit requests generated in a matter. Select this option if you want to be able to track and identify payments for a matter but don't need to use the CRN to identify the specific invoice or deposit request for which the payment has been made ; or
- Use one CRN per invoice/deposit request - select this option if you want a different CRN per invoice or deposit request. Select this option if you want to be able to identify which invoice or deposit request a payment relates to.
2.4. Enable BPAY
Once you have set all of the options, you can now tick Enable CRN Generation.
The Documents tab is used for setting your Accounts Document counters, Print Options for Invoices and File Formats.
3.1. Default File Types
When you create Invoices, Receipts and Statements, you can choose to create these files either as a Word Document or a PDF. Select the option you would prefer.
3.2. Default Invoice Print Options
You can specify which columns you would like to appear on Invoices when they print. For example, you may wish to exclude the Qty field from appearing on Invoices, or you may to show the Tax Column as a Value rather than a Percentage.
3.3. Auto Numbering
Here you can specify where your document counter numbers should start. The number you set here is the ‘last’ number used meaning the next time you print that document, the next number after the number set here will be used.
3.4. Use Separate numbering per Client/Trust Account
By ticking this option, you will be given some extra counters for Client Payments, Receipts etc rather than sharing the counters from the Office Account Payments and Receipts.
You can specify which Payments Options you accept from customers and which Surcharges to apply.
5.1.1. Click the +Add button to add a new Payment Option
5.1.2. Choose if you wish to Enable this Payment Option
5.1.3. Select which Category this Payment Type Belongs to
5.1.4. Complete the Remaining Fields
- Enter the Description for the Payment Type.
- Enter the Fixed Surcharge dollar value. If you charge a fixed fee for this Payment Option, enter the Dollar Value here (optional).
- Enter the Surcharge Percentage (optional).
Click Save and Close.
5.2.1. Select the item to Edit
Highlight the option you wish to edit, then click the Edit button
5.2.2. Make any adjustments, then click Save & Close.
Payment Surcharges are used to calculate and apply credit card payment surcharges to Disbursements. In order to apply the surcharges when you record disbursements or prepare a deposit request, you must setup your Disbursement Payment methods and their Surcharges.
For the complete setup guide, please see Credit Card Surcharge Disbursement Settings.
Staff Targets are used to set Billing Targets for you users. For each month you can specify the number of days the user intends to work and their daily Billing Target.
7.1. Editing Staff Targets
Click the Edit button.
7.2. Enter the Values
- Enter the Daily Billing Target dollar value.
- Enter the number of days the user is expected to be available to work for each month.
Once you have completed entry, click Save and Close.
The Billing Targets will now appear.
The Templates sub-tab allows you to set which Accounts templates will be used by default when generating different Accounts' documents in different scenarios. You can also specify which colour you would like the Table Header Bar and Header Bar Font colour to be.
8.1. Select default templates for Migrants
The templates are divided in to two groups - Migrants and Sponsors. You will need to set default templates for both groups.
Note: you do not need to set all of the defaults. For example, if you don't plan to use BPAY you do not need to set a template for these options. Also note that if you don't set a default, Migration Manager will automatically choose an in-built default.
For each of the dropdowns in the Migrant section, select the template you wish to set as the default.
8.2. Select default templates Sponsor Defaults
Repeat the selection process for the Sponsor templates.
8.3. Select Table Heading Colours
When an Account Document is printed, you will see a coloured Heading bar above the invoice details table. You can change the colour of this Bar as well as the colour of the Text within the Bar.
8.3.1. Setting the Back (Heading Bar) colour
Click the Select Back Colour button.
Pick the Colour
Use the Colour Bar and pallet to choose the colour you want, then click OK.
Tip: You can use the ‘eye dropper’ to pick the exact colour you want from another source.
For Example, you can:
- Open your company logo on one screen.
- Click the Eye Dropper.
- Then move the mouse over your logo and click on the logo to match its exact colour!
8.3.2. Pick the Font colour
To change the colour of the Font that appears inside the Heading Bar, click the Select Font Colour button.
Using the Colour Bar and pallet to choose the colour you want, then click OK.
8.3.3. Resetting the Colours
If you want to set the colours back to their Default, click the Reset button.
The Trust Accounting/Time Billing tab is used to:
- Activate Enforcement of Trust Account Requirements
- Set Time Billing Units
- Select the Statutory Deposit Matter
- Setting you default template text for your outgoing Trust Statements.
9.1. Trust Accounting
Migration Manager has two options with regards to trust accounting requirements:
· Enforce Trust Account Requirements: this option should be used if you’re a legal firm and have a trust bank account (as opposed to a migration agent with a client bank account).
· Don’t Enforce Trust Account Requirements: This option should be used if you’re a migration agent.
Migration Manager’s accounts system behaves slightly different depending on the option selected. If trust account requirements are enforced:
· matters must have a matter name, matter type and street address (street1, suburb and/or town, country) before trust account transactions can be recorded.
· cheque numbers must be entered for trust payments and trust to office transfers if the payment type is cheque
· BSB, Account Number and Account Name must be entered for trust payments and trust to office transfers if the payment type is EFT
· trust receipt numbers must be auto generated
· trust receipts, statements and invoices will be slightly different to client receipts, statements and invoices, including using the word "Trust" instead of "Client"
Fully compliant end of month reports and trust/client account bank reconciliations are available regardless of whether trust account requirements are enforced or not.
When trust account requirements are enforced, Migration Manager complies with the detailed list of trust accounting software requirements provided by the New South Wales Law Society.
9.1.1. Specify whether to Enforce Trust Account Requirements
To enforce trust account requirements, tick Enforce Trust Account Requirements.
9.1.2. Specify whether to Enforce Trust Payment/Transfer approvals
When you process a Client Fund Payment or a Client to Office Transfer, you can specify if you would like to make the Approved By field mandatory; and if so, if you would like the Approval Name to default to the person creating the transaction.
These can be set by ticking:
- Trust payment/transfer approvals required
- Trust Payment/transfer approvals default to the person preparing the form
9.2. Time Billing
When recording a Fee in Migration Manager or using the Time Sheet, you can elect to record time in Billing Units.
Note that by default a Billing Unit is set such that 1 Unit is equal to 6 minutes.
9.2.1. Specify how many minutes a Unit equals.
In the Time Billing section, set how many minutes equals one Billing Unit.
9.3. Statutory Deposits
Under the legal profession regulations in your jurisdiction, you may be required to have a statutory deposit account at an authorised deposit-taking institution to deposit money with the Law Society/Legal Practice Board.
For full details on how to setup your Statutory Deposit Account, See How to set up your Statutory Deposit Account.
9.4. Templates for Trust Statement Report Emails/Messages
Under Accounts Reports, your can run Client/Trust Statements for your clients. From there you have the ability to email or Portal message the Statements to your clients.
The default text that appears in these emails or messages can be defined here.
9.4.1. Open the Template text Editor
To edit the Template text, first select either the Email Template or Message Template then click the Edit button.
9.4.2. Adjust the Subject line
Adjust the subject line accordingly. You can add Merge fields by selecting a Merge Field from the Field Chooser column (1), then clicking the add icon (2).
9.4.3. Adding Attachments
You can set default attachments to also be sent with the email/message. Drag and Drop any files from their location on your PC into the Attachments section.
9.4.4. Adjust the message Body
Adjust the message Body Accordingly. You can add Merge fields by selecting a Merge Field from the Field Chooser column (1), then clicking the add icon (2).
Save your changes
Once you are done, click Save.