Client money statements

A client whose money the firm holds is told, periodically, what is held and how it moved. Docavra prepares those statements on the firm's schedule, the accounts team reviews them, and each one is numbered, printed on the letterhead, filed to the client's documents, shown in their portal and emailed.

What a statement shows

One statement covers one client in one currency for a period. For each of the client's matters that held money at the end of the period, or moved money within it, it shows:

• the balance brought forward;
• every receipt, payment and transfer, with the balance after each;
• the balance held at the end;
• any part of it earmarked for a stated purpose, or from cheques not yet cleared.

A combined statement adds the client's account with the firm (bills, payments and credits) under its own heading. The two are never netted: the money held for the client is not the firm's.

Runs

After each period ends, on the day the firm sets, a statement run is prepared: a draft for every client who should have one, and the clients left out with the reason, such as:

• the client asked for no statements;
• a client ledger is quarantined while its history is corrected;
• there is no email or postal address to send it to;
• a statement was already sent for the period.

Open Client account, Statements, Runs, and open the run. Check each client, leave out any that should not go (with the reason), then choose Release the run. Every draft is issued and emailed. Any that could not be sent are listed so you can send them again, and you are told.

You can also Prepare a run for any period that has ended.

One client's statement

A client may ask for a statement for a period they choose. Choose Prepare a statement on the Issued list or on the client's Receipts tab, check the draft, then Issue and send. When a matter is closed, its final statement is drafted for you to issue.

A client with no email address is sent theirs by post: print it, then choose Record the posting with the day.

Correcting a statement

An issued statement is never changed. If one was wrong, choose Correct it and say what was wrong. A new statement is read afresh, names the one it corrects, and is issued and sent. The old one is kept, marked corrected.

Queries

A client can ask about a statement in their portal, or you can record a call or a letter with Record a client's query. The query goes to the responsible partner of the matter it is about, else to the client account partner. The answer reaches the client in the portal and by email. A query still open after the firm's days (ten by default) is put before the client account partner.

Who reads statements

Finance reads every statement. A partner reads and answers those whose matters they answer for, and never one on a matter behind an ethical wall.

Keeping up to date

Statements, Due lists every client the firm holds money for whose last statement is older than the firm's frequency and grace allow, most overdue first. The Statements due report gives the same by client and currency, and Suspense ageing shows the money nobody has identified.

Settings

Under Settings, Ledger the firm sets, and its own lawyer confirms:

• how often statements are sent (quarterly by default);
• the day of the month a run is prepared;
• whether a client whose money only moved, with nothing left, still gets one;
• the grace before a statement counts as overdue;
• how long a query may wait before it is escalated.

A client who asked for none is recorded on their Receipts tab, with the reason.