How to make an adjustment to the Matter Ledger.
1. From your Matter Dashboard, click on the 'Matter Ledger Balance' in the 'Matter Billing' section.
2. To add a credit or debit adjustment, select '+ add an adjustment'.
Credit adjustment: A line item positive credit, which is added to the Matter Ledger for purposes such as carrying a positive balance over from a previous application, correcting an error, or applying any other miscellaneous credit adjustments.
Debit adjustment: A line item deduction, which is added to the Matter Ledger for purposes such as carrying a negative balance over from a previous application, correcting an error, or applying any other miscellaneous debit adjustments.
NOTE: Debit and Credit adjustments:
- If you manually add a debit adjustment to record a negative balance from a previous application and have applied an interest rule, interest will not apply to these entries. Interest can only be applied to fees and/or costs. Rocket Matter does not include interest on a debit adjustment.
- Credit and debit adjustments will appear as line items on your invoices.
3. Choose 'Credit-Adjustment' or 'Debit-Adjustment' from the drop-down list. Enter the date and amount of the adjustment, include a description, and click on 'Add' to save.
Click here for more information about adding an adjustment to the Client's Trust Ledger.
If you have an unpaid invoice(s), you'll be prompted with the following options.
Please select accordingly, as it does affect the Account Receivable report. Here's what occurs when selecting either Yes or No:
YES - Applies a credit adjustment to the balance due and removes the balance from the Accounts Receivable report.
No- Applies a credit adjustment to the balance due and the balance remains in the Accounts Receivable report.
