button. The CollectMax program has been designed to process debtor payments received by Receiving Attorneys only when a net remittance for collection fees earned has been setup at the client level. Specifically, the setting at the client level for "Collection Fees on Payments to Firm" needs to have the option 'Withhold from Debtor Payments' set to 1, 2, or 3. The setting labeled 'Invoice Client' cannot be equal to 1 for this option to be available. Direct debtor payments to the client will not have the receiving attorney option.
The program assumes when the Receiving Attorney obtains a debtor payment he/she will deduct their commission before forwarding a check written from their account to you. Therefore, the amount the Receiving Attorney forwards to you will be a different amount than what the debtor actually paid because the Receiving Attorney fees have been deducted. The program is not setup to pay out Receiving Attorney commissions earned if they forward the entire debtor payment to your firm.
It is important to adjust the commission setting correctly on the claim to handle the combination of your fee percentage and the Receiving Attorney fee percentage. For example, if you want to earn 25% commission on debtor payments and the Receiving Attorney earns an additional 15% commission, the commission setting must be set to 40% at the claim level.
1.
From the
main menu of CollectMax click the button.
2. Find the Debtor Account you need to enter the payment on.
3. Click on the Financial Tab.
4.
Enter a
PMT Transaction and click the 
button.
5. Enter the date that you received the payment from the Receiving Attorney.
6. Choose the type of payment method from the drop down menu.
7. Enter the full amount the debtor paid so the claim balance will be appropriately credited.
8. Select the appropriate 'hold interest' option.
9. In the method window, use the drop down arrow to select the payment method P- Rcvy Atty Collection.
10. Decide whether to include this payment on the deposit slip and mark the appropriate choice.
11. Enter the appropriate Release Date.
12. In the field labeled 'Chk Amt to Firm by Rcvg Atty' enter the amount you have received from the Receiving Attorney. The difference in the amount the debtor paid and the amount you received from the attorney will be considered the Receiving Attorney's collection fee they retained.
13. Enter any information in the note field that you would like.
14. The system will then display the commission fee it has calculated for your firm based on the claim level settings for commission less the amount the Receiving Attorney has retained. For example, the claim level commission setting is 25%. The Receiving Attorney collected $100 from the debtor. The Receiving Attorney forwarded $80 to your firm because he withheld his 20% commission. When you enter the $100 as the payment amount and the $80 as the amt of check received, the system calculates your commission fee as $25 less $20 the Receiving Attorney kept, leaving you $5 commission earned.
15. Review the amounts for client proceeds, cost recovered, commission fee, contingent suit fee (if in use), and receiving attorney fee earned. Review the payment application to the debtor balance.
16.
If
all the figures are correct, click the 
button.