If you handle Evergreen retainers in your firm, you can track low retainer balances and then generate reminders to clients for replenishment.
1 - Setting Minimum Retainer Requirement - Ensure to set a minimum retainer balance required when setting up your matter. This is the threshold you wish to set that when reached, the matter will be added to your low retainer reminder list
To do so, when adding or editing a matter, go to Advanced Settings > Billing Info Tab > Options.
Check the "minimum retainer balance required" box, and enter the amount you wish to have a minimum threshold.
When a client's combined retainers (operating and trust) fall below this amount, they will be added to you low retainer reminder list.
2 - Populating Low Retainer List - On the matters page select Action > Low Retainer Reminders
Here, you will see the client and matter, what you set as the minimum requirement, current retainer balances and what is needed for replenishment. along with the client's primary email address (email address is required if you wish to send reminder emails)
There are 3 filters at the top:
- Reminder Letter Date* - Date of letter
- Only show replenish amounts higher than * - If you wish to only list those matter's above a certain replenishment amount, enter that amount here, then click Show/Update to refresh the list.
- Round replenish amount to nearest $100 - check this option if you wish to round the replenishment amount to the nearest $100, then click Show/Update to refresh the list
You can either use this list as just a reference, or you can email a fully customized reminder letter to your client directly from the program.
3 - Emailing Reminders - Once you click email, the reminder email template will display with customizable fields.
(If you want to make overall changes to this template, you can do so in Setup > Firm Settings > Email Templates)
DO NOT replace the fields (EX: [#ClientContact#]) with an actual value. These fields are in place so that when you notify multiple matters, the proper information will populate.
Note: A copy of the email will automatically be sent to the firm's email address.