Maximum amount of 99,999,999.99. If you want the client funds account to always maintain a certain amount, enter the amount you want maintained in the account.

Note: This field is not used if the value is $0.00.

Note: This field is changed to the Retainer Amount field if the client is configured as a One Time Retainer client.

Whenever a statement is run and the Fund Balance is less than the Minimum Balance, Tabs3 will calculate whether an amount needs to be replenished. The calculation depends whether an amount has been entered in the Target Balance.

  If the Target Balance is 0.00, Tabs3 will use the following formula to determine the amount to be billed:
Minimum Balance minus Fund Balance

 

  However, if the Target Balance is greater than 0.00, Tabs3 will use the following formula to determine the amount to be billed:
Target Balance minus Fund Balance
 

Example #1: Let's say the Fund Balance is $300, the Minimum Balance is $1,000 and the Target Balance is $0.00. Tabs3 would print the line "Please Remit $700.00" at the end of the Client Funds section of the statement (i.e., Minimum Balance minus Fund Balance).

Example #2: Let's say the Fund Balance is $500, the Minimum Balance is $1,000 and the Target Balance is $1,500. Tabs3 would print the line "Please Remit $1,000.00" at the end of the Client Funds section of the statement (i.e., Target Balance minus Fund Balance).

Note: The calculated balance can be rounded up to the nearest billing increment if a Billing Increment is specified on the Options tab of Customization. For example, if the Billing Increment is $25 and the calculated amount is $210.77, the amount billed will be rounded up to $225.00. As another example, if the Billing Increment is $500 and the calculated amount is $1,005.27, the amount billed will be rounded up to $1,500.00.

The default "Please Remit to Replenish Client Funds Balance" terminology is defined on Line 63 of the Terminology tab in Statement Customization.

A popup calculator is available when editing this field. The "<" and ">" keys can be used to increase or decrease the amount by one dollar at a time.

See also:   Client Funds Overview