Easier Refunds for Evergreen Retainers!

At streamlined.legal, we’re always on the lookout for features that enhance the efficiency and effectiveness of your law practice. We’re thrilled to announce a game-changing update from Clio that many of you have been eagerly awaiting: the ability to refund payments made into trust accounts via Clio Payments. Let’s dive into what this means for your firm and how you can start taking advantage of this new feature.

Managing client funds just got a lot simpler. A recent Clio update allows users to refund payments made into trust accounts through Clio Payments. Whether your clients are paying via credit card or ACH, you can now seamlessly process refunds directly from your trust account.

For firms using Evergreen retainers, this feature is a significant upgrade. The concept of Evergreen retainers is to maintain a consistent balance in your trust account, ensuring funds are always available to cover your clients’ bills as they are issued. With the new refund capability, managing these funds becomes even more efficient. Now, if an overpayment occurs or if funds need to be returned for any reason, the process is straightforward and hassle-free.

Currently, this refund feature is available exclusively in the United States. While this is great news for our U.S.-based clients, we hope to see this feature rolled out internationally in the future to benefit all Clio users.

Understanding the specifics of this feature is crucial:

• Credit Card Payments: You can refund these at any time, providing flexibility and peace of mind.
• E-Check Payments: These must be refunded within 180 days. If you are collecting replenishments monthly, this timeframe is generally ample, but it’s important to keep this limitation in mind when processing refunds.

How to Use the Refund Feature

Accessing the new refund option is simple. Here’s a quick guide:

1. Navigate to the Online Payments Tab: In your Clio account, go to the online payments tab.
2. Locate the Refund Option: On the left side of each payment, there should be an option to refund the payment. You will need to click on the small arrow next to the payment details to find this option.
3. Micro-Deposit Verification: In some cases, Clio may request a micro-deposit verification to confirm authorization. This involves a small charge and refund to your credit card, ensuring the correct account holder is processing the refund.
4. Follow the Instructions: If prompted, report the micro-deposit amount in the settings under online payments to complete the verification process.
5. Process the Refund: Once verified, you can select the refund amount (up to the total payment amount) and process it.

For detailed instructions, Clio has published a help article. Simply go to the help section, search for “Trust Account Management,” and scroll down to the “Refund Trust Funds” section.

This new feature from Clio represents a significant enhancement for law firms, especially those using Evergreen retainers. It streamlines the process of managing client funds, ensuring that refunds can be processed smoothly and efficiently.

If you have any questions or need assistance with this new feature, don’t hesitate to reach out to us at streamlined.legal. We’re here to help you make the most of your practice management software and ensure your firm operates at peak efficiency.

Ready to see how streamlined.legal can help your firm? Schedule a discovery call with us today to learn more about our services and how we can support your practice management needs.