| Update Statements | 
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 How to Access
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Caution: Back up your data prior to updating statements. If the update process is interrupted for any reason, it will be necessary to restore your data from the backup and rerun the update. You will be given the opportunity to make a temporary backup immediately after selecting this utility.
Platinum Note: When using the Platinum edition of the software, you will not be asked to make a backup before running this process, nor is it necessary due to the Auto-Recovery feature.
The Update Statements utility is an important turning point in the billing cycle. This utility is used to update accounts receivable and billed productivity figures based on the information billed on the statements.
When the Update Statements utility is run, the following occurs:
- All fee, cost, payment, and client funds transactions that have been billed on final statements will be updated and archived. The transactions are actually moved out of the work-in-process data files and into the archive files.
- Credit transactions are applied.
- Finance charge is calculated.
- Payments are allocated to due amounts. This includes payments on the statement being updated as well as unallocated payments that were processed on previous statements.
- Statements for clients configured to receive email statements are sent to the Email Statements window so you can review email messages before they are sent.
- The Release to Bill check box is cleared if the client’s Bill on Demand and Release To Bill check boxes are selected.
- The Courtesy Discount Type is set to None if the Change Discount Type to None after statement updated check box is selected.
- Pre-bill information is updated in the Pre-Bill Tracking window.
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Third Party Integration:
- GL journal entries are created for payments that are allocated.
- GL journal entries are created for any automatic client funds payment.
- Payment records are created for any Pending Automatic Trust Payments that were included on a final statement.
- The Update Statements Verification List is populated with the appropriate information.
This utility can be run more than one time per month. You can update one client, ranges of clients, or all clients. Multiple client ranges can be specified. You can update clients for a specific primary, secondary, or originating timekeeper or a range of timekeepers.
The OK button will begin the update process. During the updating process, a status window will be displayed indicating the progress of the updating process. Once the process has finished, a message will be displayed indicating that statements are now updated.
The Cancel button can be used to close the Update Statements window. The Print dialog box will be displayed allowing you to generate an Update Statements Verification List. If there were GL posting errors or warnings encountered during the update process, you will also be able to print a GLS Error Report.
Credit Transaction Note: If a credit transaction included on the statement cannot apply toward fees or costs because they have already been paid, the Update Statements process will perform the following behind the scenes:
- Previous payment amounts that applied toward the credit’s timekeeper or cost type are reversed, beginning with the most recent applicable payment.
- The credit is applied.
- The payment is reapplied.
The date of the payment unallocation and reallocation will be the statement date.
See also: Credit Transaction Technical Notes
Automatic Trust Payments Note: If Trust is configured to create automatic payments with a type of Check, any unpaid check transaction in Trust must be assigned a check number before Tabs3 Billing statements can be updated. Clients with unpaid check transactions will be flagged on the Update Statements Verification List as unable to be updated until the unpaid check is assigned a check number.
GL Integration Note: When integrating with GL, an unapplied
payments account must be defined before this utility can be accessed.
When statements are updated, GL journal entries can be created if payments are allocated or automatic client funds payments are added for the final
statement being updated. The GL accounts affected will depend on the configuration in the GLS
Integration Setup. The date of the journal entries will be the statement date or the payment date,
whichever is later.
| See also: | Statements Overview |
| Payment Allocation | |
| Archiving Overview | |
| GL Integration | |
| Tabs3 Billing Statements Guide | |
| Knowledge Base Article R10064 - Update Statements Was Interrupted | |
| Knowledge Base Article R10670 - Common Issues with Updating Statements in Tabs3 Billing | |
| Knowledge Base Article R11582 - Statements Information Resources |
Note: The "Client" and "Timekeeper" terminology can be changed in Customization. This terminology is used on all menus, windows, and reports. However, the labels "Client" and “Timekeeper” are used in all documentation.
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