A new Settlement section within the Value Tab of a Case allows firms to create settlement entries and track disbursements. Similar to the Settlement View on the Value Tab, this Settlement section categorizes Value items based on attorney fees, due to firm, due to others, and due to client. Quickly check the balance of the overall settlement fund with the ability to filter disbursements by Party.
NOTE: You must have at least Enabled and Add permissions to the Value Tab.
To create a new Settlement Value entry from the Settlement section:
Open the desired Case and navigate to the Value Tab.
Select the new Settlement section.
If the Case does not currently have Value items with a "Settlement Amount" Value Code Type, the following screen will display.
NOTE: You can still return to the Values section and add a new Value entry with a Settlement Value Code if you wish.
If the Case currently has a Value item with a Settlement Amount Value Code Type, the option to create a New Settlement will display at the top.
Click the + New Settlement button to create a new settlement entry.
NOTE: If there are no active Credit Value Code Types in your firm's Value Codes Mini Directory, this button will be hidden.
Enter the following details on the New Settlement window.
Party – Use the dropdown to select a particular Party from the Case or All Parties.
Provider – Use the Find a contact search field to locate the Provider, typically the insurance company, that is paying out the settlement. This is a required field.
Amount – Enter the settlement amount. New settlement Value entries will be created with this amount for each party selected above. For example, if there are two parties in the Case and "All Parties" is selected, upon Save, two Value entries will be created showing the same amount for each Party.
Value Code – This dropdown contains all active Credit Value Codes from the Value Codes Mini Directory. This field will default to SETTLE if the Value Code is active and listed as a Credit.
7. Click the Save button.
8. On the Values section, notice the new Value entries with the Settlement Amount Value Code Type (e.g., SETTLE) created.
9. Return to the Settlement section to see a new disbursed breakdown.
Disbursed – This shows the amount that has been disbursed out of the total settlement amount. The disbursed amount will increase as transactions are added to Value items. If new Settlement Value items are added, the total Settlement amount will increase.
Value entry totals breakdown – Use the down arrow to view all Value entries within each section, sorted by Provider.
• 1 Attorney Fees – Debit Value items with an "Attorney Fees" Value Code Type
• 2 Due to Firm – Debit Value items with a "Due to Firm" Value Code Type
• 3 Due to Others – Debit Value items such as Caseexp or Medical. Does not include: Attorney Fees, Due to Client, Due to Firm, and Settlement Amount
• 4 Due to Client – Debit Value items with a "Client Disbursement" Value Code Type
NOTE: If no Value entries exist for Attorney Fees, click the + Add Attorney Fees button to create one without leaving this screen.
Value entries can be added from the Settlement section, as well as a disbursement to your client (Due to Client), and payments (transactions) to individual Value entries.
