Sentences with phrase «purpose account»

Payments are made to the creditors from the client's special purpose account directly, so no third - party management will be reflected on the credit report.

The only way to accomplish this in general - purpose accounting software is with manual journal entries whenever you get paid.

If you enroll in a debt settlement program, you'll make a monthly deposit into a special purpose account.

The Estimates exclude the activities of these accounts arguing that the benefits and administration costs are charged to the specified purpose accounts rather than to the department responsible for its stewardship.

Any reputable debt settlement firm endorses the special purpose account as the most effective method of client savings.

Sometimes folks use a Roth IRA as a dual - purpose account until they can establish separate accounts for retirement and emergency funds.

The new law also sets up a special purpose account so that the proceeds of seized assets from grow ops and other such criminal activities can be spent on enforcement, crime prevention and victim compensation, the government says.

CosmoLex's accounting features mean you don't have to deal with migrating information to and from a general - purpose accounting software package like QuickBooks or Xero.

For example, the Public Accounts / Budget / Updates includes employment insurance program costs, as the government has full control over this program, determining the premium rates and eligibility and the amount of the benefits, whereas the Estimates excludes them, on the basis that they are included as part of a specified purpose account.

They also instruct consumers to immediately stop making payments to creditors on any debt entered in the World Law Program, and instead to begin making a single monthly payment into a special purpose account (SPA), ostensibly so that World Law can use it to settle consumers» debts.

They are actually deposits you make into a special purpose account that you control.

Like QuickBooks Online, it can work well as general - purpose accounting software for law firms, although it lacks specific trust - accounting features.1

You can certainly make do with general - purpose accounting software like QuickBooks or Xero if you are scrupulous about errors, learn to do trust accounting and reporting properly, figure out enough double - entry bookkeeping to ensure you are handling payments properly, and build the reports you need to keep your firm healthy.

Trust accounting, of course, is one of the easiest places to get into trouble, especially when you are doing it manually in general - purpose accounting software.

Built - in trust accounting with support for lawyers» reporting requirements is probably the biggest reason firms use accounting software specifically built for law firms instead of general - purpose accounting software.