Cost Journal Input

Modified on Thu, 15 Feb at 9:28 PM

Use the cost journal input option to input cost transactions against a Matter.

To Enter a Cost Journal Transaction.

In the Transactions Menu, click Cost Journal Input:
The Cost Journal Input form displays with some fields automatically populated. For help completing the fields, see Table 1: Cost journal Input Field Explained at the bottom of this page.
When you have completed the fields, do one of the following to save the form entries:
1. Click Add Transaction to validate the entries on the form. LawMaster highlights any invalid form entries with a red exclamation mark. Place your mouse over the exclamation mark to see an explanation of why the entry might not be valid. Correct any invalid entries and retry. If the entry is valid, the transaction is added to the grid for review but is not yet finalised. LawMaster resets the form ready to accept a new form entry. You must still click OK or apply to commit your transactions. Note: You can delete any line items in the transactions grid, individually or in bulk, from the Delete option in the Context Menu.
2. Click apply to finalise and clear the grid. The form remains open so you can add more transactions if required.
3. Click OK to finalise and close the form.
4. Click Cancel to discard transactions that are not finalised (where you have not clicked OK or Apply). If you have any unfinalised items, LawMaster displays a warning advising you that you will lose the unfinalised entries. Click Yes to continue and No to keep the items
  
  Note: The apply and OK buttons only enable if there is at least one transaction in the transactions grid. You must click OK or apply to save your transactions. Note: To avoid missing transaction numbers, LawMaster allocates the journal number only after saving the transactions
  
  Note: The apply and OK buttons only enable if there is at least one transaction in the transactions grid. You must click OK or apply to save your transactions. Note: To avoid missing transaction numbers, LawMaster allocates the journal number only after saving the transactions

Author	Automatically populated with your login. To change to another author, enter the author's initials or click the Ellipsis to select a resource. Instead of clicking the ellipsis, you can also: On your keyboard, tab to the field and press F5. To access the lookup form, enter the code or number directly into the field, if you know it, and select from the lookup.
Matter	Enter the matter number if you know it or click the ellipsis and select the matter number from the lookup
Client Name	A read-only field automatically populated from the selected matter.
Date	This field is automatically populated with the current date. To change the date, click the arrow and select from the date picker or enter the date in dd/mm/yyyy format. Note: The date must be less than 5 years old and not more than 2 years in advance
Trans. Type	Click the arrow and select the cost transaction type: Fees and time (F) Disbursements (D) Write-off/on fees (WF) Write-off/on disbursements (WD)
Expense Type	Enter a disbursement, which is any payment made in a relation to a matter or activity code, or click the ellipsis and select from the lookup.
Anticipated Disbursement	Fill this checkbox to flag this transaction as an anticipated disbursement (used for disbursement transaction types only).
Supplier	For an anticipated disbursement, enter the supplier ID or click the ellipsis and select the supplier ID.
Reference No.	For a disbursement, enter the purchase order or invoice number.
WIP	Read-only field displaying the work in progress for the selected matter Note: Where the organisation holds costing scales inclusive of GST, LawMaster first removes the GST component before it calculates WIP.
Disbursed	Read-only field displaying the current unbilled disbursements recorded for the selected matter.
Narrative	Enter a description for the fee or disbursement entry as you want it to appear in an itemised bill. For example, "Telephone call". Note: Pressing F3 on your keyboard updates this field with the previous transaction’s narrative
Units - Time	For fees, enter the time units. For disbursements, enter the disbursement units.
Units - Scale	Read-only field displaying scale units for charge rates.
Actual Cost	Read-only field displaying the actual cost of the fee transaction.
Amount	Enter the transaction amount exclusive of GST. For Fee items, the field defaults to an amount based on the number of units, the matter charge type, and the author’s charge rate. Note: The amount is exclusive of GST, with the exception disbursements. For disbursements, you must enter a value inclusive of GST and LawMaster calculates and displays the Paid GST applicable to the transaction. You can amend the Paid GST if it is not correct.
Billable GST	Read-only field displaying the amount of GST billable to the client as of now. Notes: LawMaster calculates the GST and applies it to the line item when it is billed. The applicable GST also displays on the costs tab for the matter. GST is calculated on all cost line items provided the following criteria is satisfied: The date of the transaction is after 30/6/2000 (system administrators can amend this date using a parameter). The matter is not GST exempt, the time activity or disbursement is not GST exempt. The transaction type is not write-off/on fees – GST exempt.
Paid GST	Used for disbursements only and displays the GST amount applicable to the disbursement. You can amend the amount if it is not correct.
Reduce To	Read-only field displaying the anticipated disbursement reduced amount. Note: For the input of non-cash disbursements to offset previously entered anticipated disbursements, the reduce to amount is the amount to which the previously entered anticipated disbursement is to be reduced and is generally held as a GST inclusive amount. When an anticipated disbursement is entered, LawMaster calculates the GST on the amount and holds the GST component on the cost transaction in the paid GST field. An order is also created holding the anticipated amount inclusive of GST.
A/Disbursement	Click the ellipsis and select an anticipated disbursement number.
Remarks	Enter remarks for the fee or disbursement entry. These remarks do not appear on the itemised account.

For more advanced information about this topic: in LawMaster see Menu Bar > Help > System Overview OR Context Help.