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How to Account for Transaction Voided in LawPay Portal

Introduction

If you have chosen to integrate CosmoLex and LawPay, it is best to perform all of your credit card transactions through your CosmoLex software. If you void a LawPay transaction in CosmoLex, for example, this will also update your LawPay portal.

However, there may be special cases when a transaction gets voided in your LawPay account first. If this happens, follow the instructions in this article.

Important

If you attempt to void the transaction in CosmoLex after voiding it in LawPay, your CosmoLex account will be looking for a similar un-voided transaction in order to void it. Since your LawPay transaction has already been voided, it won’t find it. Therefore, for your data’s safety, CosmoLex will prevent this step and you will receive the following message. you will receive the following message:

However, there are ways to properly account for the voided transaction in CosmoLex.

If Voided LawPay Transaction is for Invoice Payment

You will have to un-link the payment from the invoice first. After which, the funds will be moved to the Operating Account and held as a retainer.Then you’ll be able to create a Credit Memo. 

1. From the Matter Tab, double-click the affected matter

2. Click on the Billing tab, then Invoices

3. Use the search filter on the right to find “Paid” invoices, and use any other parameters needed to find the affected invoice

4. Before you can do anything with the invoice, you will need to un-finalize it since it’s already been paid. Select it, click  Action then “Unfinalize Invoice.”

5. Next, select the invoice and click  Edit.

6. Without making any changes, click Generate. You will see a pop-up message asking if you’re sure. Click Yes. This will un-link the payment from the invoice and create an amount in the operating retainer.

Using Credit Memo to Notate Voided Transaction

Now that you have an amount in the operating retainer, you’re ready to Credit it back to the client.

1. From the Matter Tab, double-click the affected matter

2. Click on Banking, then Transactions

3. From the Transactions tab, click  Action then Credit Memo

4. Complete the Credit Memo window. Verify the amount is correct, and the same as the original transaction. Under Type, select Wire/ACH-Out and select Wire Transfer as the Method. Finally, make a note “Transaction Voided in LawPay” in the Memo field. When completed, click Save.

Once Saved, the transaction will be marked in your Operating Account and the retainer balance will return to its original amount (if you had no funds in the operating retainer before this, you should have a $0 balance).

If Voided LawPay Transaction is for Trust Retainer

You will simply have to create an accurately notated withdrawal from trust to match the voided LawPay transaction.

1. From the Matter Tab, double-click the affected matter

2. Click on Banking, then Transactions

3. From the transactions tab, click  Trust Transactions then Withdrawal.

4. Complete the “Matter’s Trust Withdrawal” window. Enter the amount of the original transaction. Choose Wire/ACH-Out in the Type field, and then choose wire transfer for method. Enter your client’s name in the “Pay To” field. Finally, make a note “Transaction Voided in LawPay” in the Memo field. When completed, click Save.

After saving, the transaction will be recorded in your records and the Trust Retainer balance returns to its previous amount.

Updated on August 17, 2018

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