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  4. 6.5.1 Released! (April 11, 2020)

6.5.1 Released! (April 11, 2020)

In This Article…

Release Date:  Saturday, April 11, 2020

This document includes items released in version 6.5.1

New Features

Bank Error Management in Bank Reconciliation

Bank errors are mistakes made by the bank when depositing or withdrawing funds from your account. Even though they are errors which will soon be resolved, they need to be accounted for during the reconciliation process – especially for trust accounts. To prevent having to allocate these errors to a client or firm ledger, we have added the ability to account for these errors while in the reconciliation statement. 

If you wish to use this new feature, you must first ensure this option is turned ON for the corresponding bank account. 

You can do so under Accounting > Bank > Select Bank > Edit

Check ‘allow bank error tracking during reconciliation’. If this option is not checked, you will not have the bank error function available when reconciling

While reconciling, you will then see an additional line item in the reconciliation summary (bottom left) called ‘Bank Errors’

This line item will list any errors still pending from the previous statement as well as those added for this statement. 

Caution (provided in tooltip)

This ‘Bank Error’ function should only be used to record genuine bank made errors which are temporary in nature with the intent of being corrected by the bank as soon as possible. Any firm related data entry issues should be resolved by editing the original transaction. Improper use of the ‘Bank Error’ feature to force the balancing of a reconciliation statement can result in serious ethics and compliance issues.

To account for the bank error or correction, click on the orange details button next to the bank error tooltip.

Here is where you can add, edit or delete bank errors. You must also enter bank corrections this way to zero out corresponding errors. 

Note

  • You can only add, edit or delete a bank error dated during an open statement.
  • If the corresponding statement is reconciled and you wish to make changes, you would first need to reverse the reconciliation – the same steps as if needing to edit a reconciled transaction.
  • To enter the bank’s correction, enter a new item here with its respective date. The original error will remain in this list, but will balance out
  • Bank Reconciliation and 3-way Reconciliation reporting will now show ‘Bank Error’ as a line item

Relation Fields Now Added to Document Assembly

CosmoLex has a document assembly function which provides merge fields to insert into document templates for the merging of data (You can learn more about our Document Assembly here)

The system will now automatically create merge fields for matter relations as well. 

Things to Note:

  • Going forward, when adding new relations to a matter, relation types will need to be unique in order to create proper merge fields (Ex: If you have two witnesses on a file, one can be relation type: Witness, the other, Witness 2 – or whatever unique label you prefer)
  • You can add newly needed relation types under Setup > List Items > Contact Type
  • If you have previous relations with the same type, by default the document assembly will choose the first one in the list. If you want to avoid this default behavior, we suggest removing the relation and adding back with a unique relation type
  • If you add new relation/contact types, we suggest re-downloading your merge field databse to ensure those are including when inserting fields into templates. 
  • Microsoft Word mail merge feature has a limit of 250 fields. If you have more than that in your merge field database, you may need to copy/paste the fields into the template instead. 

Enhancements for Printing Invoices

In our last release, we made some very helpful updates to our email function & filters. Those have now been added to the Print Invoice function as well.

When choosing Print Invoice (Multiple) you will see an updated screen which includes enhanced date filtering, grouping by matter and client as well as the ability to not include items which have already been emailed.

We also added the usual search filter toolbar on the right to expand filtering options. 

To keep consistent with our email functionality and to avoid prolonged delay, only 25 invoices can be printed at a time. 

Enhancements for Emailing Invoices

  • You are now limited to emailing 25 invoices at a time. This was put in place to avoid delivery failure due to the general limit of max of 15-20 MB on email attachments. 
  • Due to this restriction, we have added more granular control when choosing which invoices to email. When filtering by client or matter, you can now drill down into the matter or invoice count to choose which items you wish to send.  

Enhancements for Emailing Invoice Reminders

When sending invoice reminders (Invoice > Email > Invoice Reminders) We have added columns for ‘last reminder date’ and ‘days since last reminder’ to provide tighter control when filtering which invoices to follow up on.

Miscellaneous

Added Client Id and Client Index# column in Matter export. This is to alleviate issue caused by duplicate client name when it becomes difficult to identify client associated with a matter

Updated on April 13, 2020

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