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    Wednesday Wisdom: Applying Ledger Adjustments – Credits and Discounts


      Rocket Matter is the complete legal billing solution for your firm including accounting capabilities. Many times, we will receive calls about how to apply a discount or write-off a balance. Rocket Matter allows you to do this by making credit adjustments to the matter’s ledger.
      Let’s take a look at applying a credit adjustment to a matter. It is important to NEVER add a credit adjustment for a payment. Always add a payment using the ‘add payment’ button.
      As an example, let’s add a credit adjustment for a client we never received payment from, like Jake Nopays here:
      Click “add an adjustment” to add the credit.
      Screen Shot 2014-02-11 at 3.06.44 PM
      Then, change the drop-down menu to “credit – adjustment”, and enter your date, amount and description for the entry. A credit adjustment will decrease the amount owed by the client. A debit adjustment will increase the amount owed by a client.Screen Shot 2014-02-11 at 3.07.08 PM
      Using credit adjustments correctly will make sure that the accounting information for your matters is up-to-date and accurate. This will prevent discrepancies in your firm’s books and allow you more time to do what you do best: practicing law.
      Rocket Demos are always available online 5 days per week!  Click here to select a time convenient for you and register.
      Current customers who need a refresher on all things Rocket Matter are encouraged to jump onto one of our online training classes. We also offer them 5 days a week.
      Our dedicated support team is always available 8am-8pm EST, Monday through Friday, to answer all of your questions and concerns. You can reach them by phone at 888-432-1529 option 1.

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