The LEAP Payments Received GL income account is used when the firm invoices a client to recover out-of-pocket expenses (hard disbursements) previously paid to a third party on the client’s behalf. For example, when a final invoice includes a prior made disbursement payment such as an expert witness fees, court filing fees, or medical reports, the amount is recorded in this GL account.

The LEAP General Account Expenses GL account records hard disbursement costs paid from the firm’s general bank account to a third party on behalf of a client. Examples include payments for expert witness fees, court filing fees, or medical reports.

The LEAP Discounts Given GL account records adjustments made to final invoices. After a final invoice is posted, any increase or decrease to the total amount owing is recorded in this account.

The LEAP Receivable Write Offs GL account records write-off adjustments on final invoices, whether to fully write off the balance or to account for partial amounts that are uncollectible.

The LEAP Expense Write-Offs GL account records write offs for LEAP General Account expenses (hard cost disbursements) that will not be invoiced back to the client, with the firm absorbing the cost.