You can record the outside income you receive for activities such as mediation and speaking events.
Caution
These instructions do not pertain to income you receive for business entities other than your legal firm. If you have another business entity requiring a separate General Ledger or set of books, we recommend you contact our support team for further clarification.
Record Non-Fee Income
To record non-fee income:
- From the left navigation panel, click Accounting.
- From the Accounting left navigation, click Bank.
- On the Bank screen, either double-click the operating bank account, or single-click it, and then from the toolbar, click Details.
- Atop the Bank’s left navigation, click Transaction.
- From the toolbar atop the Transaction screen, click Add > Deposit.
- On the Add Transaction screen, from the Date field’s drop-down, click the date you are voiding the transaction.
- In the Amount field, enter the income amount.
- From the Type field’s drop-down, click Deposit.
- In the Payee or Payor field, enter the payor’s name.
- In the Memo field, enter the income type.
- In the Memo2 field, enter an internal reference note, desired.
- From the Account field’s drop-down, 4150: Other Business Income (Income).
This designated non-fee income account groups the income “above the line” on your Profit and Loss and includes it in the firm’s income or loss calculation. - In the lower right corner, click Save.
The system saves your non-fee income transaction.
