Disbursements - How do you reflect disbursements
1. Paid unbilled Disbursements / paid billed disbursements;
2. unpaid unbilled disbursements / paid unbilled disbursements
How should solicitor's accounting systems here deal with the above, i.e.:
1. Does ALL disbursements - paid or unpaid - reflect as part of the office balance?
2. How are disbursements reflected when it's posted through the purchase ledger? Is this reflected as part of the office balance when paid / unpaid / both? How do you then know when it's paid?
3. Does the disbursements show as part of the office balance whether billed or not and if so, once it is billed, how does it reflect?
4. If I understand it correctly, 'billed' refers to a disbursement being invoiced? In what instance would it not be billed to a client?
Does the unbilled disbursements show as part of the age analysis? How is the trail balance affected by the above scenarios?
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