The Fund Application indicates what will be paid from the client funds account for a payment to the firm. This field is not available when entering a deposit or withdrawal. All payment transaction codes will be allowed in the Tcode field regardless of the Fund Application specified.

WIP Payment

The WIP Payment option indicates that the payment will create a linked payment record for the client. This payment will apply based on the standard payment application methods, typically applying first to any accounts receivable balance and then to work-in-process. This payment can also be allocated manually, if desired.

Clicking the button beside a saved Client Funds payment with a Fund Application of WIP Payment will open the linked payment record.

Note: When the Client Funds record is saved, the Payment entry window is opened so as to create the linked payment record. If the Payment entry window is closed without saving the payment information, then no payment record is created. Instead, the Fund Application will automatically be changed to Apply to All and a payment ledger record will be created during the Update Statements process. The payment will apply to work-in-process first, and then apply to billed amounts according to the Payment Application settings stored in the Client file.

If the statement containing the payment is undone, the payment ledger record will be deleted, reversing GLS journal entries will be posted, and the Payment to Firm will appear in the Client Funds window.

GLS Note: When integrating with Tabs3 General Ledger (GL), journal entries are created to withdraw the amount from client funds and deposit it into unallocated payments when the client funds transaction is saved. Adjusting journal entries for allocation are created when the linked payment record is allocated (i.e., when the payment is saved or when the statement that includes the payment is updated).
Apply to Fee The Apply to Fee option indicates that the payment amount will first apply to fee work-in-process only (fees + fee sales tax + finance charge), then to any fee accounts receivable balance.
Apply to Exp The Apply to Exp option indicates that the payment amount will first apply to expense work-in-process only (expenses + expense sales tax + finance charge), then to any expense accounts receivable balance.
Apply to Adv The Apply to Adv option indicates that the payment amount will first apply to advance work-in-process only (advances + advance sales tax + finance charge), then to any advance accounts receivable balance.
Apply to All The Apply to All option indicates that the payment will first apply to all work-in-process (fees + fee sales tax + expenses + expense sales tax + advances + advance sales tax + finance charge), then to any accounts receivable balance.

Note: Because Payments to Firm with a Fund Application of Apply to Fee, Apply to Exp, Apply to Adv, or Apply to All are generated at the time a statement is run and updated, this type of payment is not shown in the Payment file.