Automated Trust Accounting and other new features were added in the recently released Version 3.6. Expenses are input in the individual case file which will create an immediate entry to Accounts Payable for subsequent payment. The expense detail will also be maintained in the case file. Expenses may be input on a batch basis or by the individual case. Time compiled through automatic time tracking or individual time entries may be held for future invoicing or invoiced immediately at the discretion of the user.
All time records are available to the timekeepers for editing and modification prior to invoicing.
All invoiced time is immediately transferred to the IAS Accounts Receivable with the detail being maintained in 21CL for future reference. The Accounts Receivable module in IAS tracks all of the outstanding invoices and payments. Expenses may be maintained as WIP or expensed through the income statement as determined by the firm. The detail of the expenses is maintained in both 21CL and IAS for future reports and settlement calculations. The firm chooses the accounting method for treatment of revenue and expenses related to trust accounting.