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Add and Manage Operating Retainers

Introduction

Operating Retainers allow you to take and keep client funds in your operating account. We recommend that you check with your jurisdiction, as this practice is not always allowed. 

Add Operating Retainer

From Matter Tab

1. From the Matter tab, select the desired matter

2. Click Operating Retainer

3. Complete the “Receive Retainer – Operating” screen

  • Date retainer was received
  • Amount
  • Type
  • Method
  • Payor
  • Memo(s), if needed

4. When ready, click Save

From Matter Details Page

1. From the Matters tab, select the matter and click Details or double-click the matter

2. Click on Banking

3. From the Transactions tab, click Receive Retainer then click Operating

4. Complete the “Receive Retainer – Operating” screen. (See above)

Using Operating Retainers for Invoice Payments

You can use operating retainers on hand to pay your client’s invoice(s).

Learn more about invoice payments with operating retainers.

Refunding Operating Retainers

To refund operating retainers, you’ll need to create a credit memo for the matter and tell the system how you wish to return the money. 

Learn more about credit memos

Turn Off Operating Retainer Option

If you do not wish to use Operating Retainers for your firm, you can remove the operating retainer button from the system. 

Removing the ability to take an operating retainer will not remove the “Client Funds – Operating” column from the matter page.

This column is not only used to track operating retainers, but also any invoice over-payments or client funds that have been temporarily unattached from an invoice.

1. Click the Setup tab

2. From Firm Settings, click Firm Preferences

3. Scroll down to “Allow Operating Retainer Transactions” and select No from the drop-down menu

4. At the top of the screen, click Save.

5. Refresh the browser to see the change.

Updated on June 11, 2019

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