What Order are Payments applied to Invoice Line Items?

  • Updated
When a partial payment is applied to an invoice, CARET Legal automatically considers the payment towards the expenses of the invoice, then the earliest dated line item. By doing this the firm's short term revenue (taxable income) would be lower than if the payment was applied towards a service, time, or soft cost line item which would create revenue.

Was this article helpful?

0 out of 0 found this helpful