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List of common terms used in DoingTIME

CrystalCrystal Posts: 30
Below is a glossary of common terms used throughout DoingTIME®:

IOLTA: According to the National Association of IOLTA Programs, Interest on Lawyers Trust Accounts is a unique and innovative way to increase access to justice for individuals and families living in poverty and to improve our justice system. Without taxing the public, and at no cost to lawyers or their clients, interest from lawyer trust accounts is pooled to provide civil legal aid to the poor and support improvements to the justice system.

Timekeeper: An individual who records increments of time for time spent on a task or event.

Unlock Code: A sixteen character alpha-numeric code used to gain access to DoingTIME. The code is furnished by LegalPRO Systems, Inc.

Data Connection: A program feature used for synchronization of common shared data between two or more programs. Useful in preventing the same information being typed over again in multiple software programs.

Debtor: A person or entity who owes money; someone indebted for services.

Link ID: The link ID is generated by BankruptcyPRO® and is usually the first four letters of the debtor’s last name and a 3-digit number. The ID links the client data between DoingTIME™ and BankruptcyPRO®.

Billing Transaction: A Charge Slip or a Credit in DoingTIME.

Trust Account: A reserve of money set aside, usually in the firm’s bank account, to draw from to pay for services or for some other purpose.

Hourly Rate: The hourly amount per hour charged by the legal staff for services. Timekeepers can have up to five different hourly rates in DoingTIME™

Charge Slip: A time entry in regard to a client.

Payment: An incremental dollar amount received from a client to be applied to satisfy a debt for services rendered.

Transfer From Trust Account: A billing transaction where funds are moved from a trust account to be applied to an account balance

Transfer To Trust Account: A billing transaction where funds are moved into a lawyer trust account and held to be later transferred out to pay for services

Write Off: To reduce an account’s amount or balance to zero or nothing. Claim it as a loss.
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