Siobhan Dunne (Customer) asked a question.
What is the difference between a cost recovery and an anticipated payment? Which is the best for dealing with outlays?
- Seng Kao (LEAP Dev)
Hi @Siobhan Dunne (Customer),
Thank you for posting on LEAP Community Discussions.
The key difference is that a cost recovery is for short-term expense and an anticipated payment is for long-term expense.
If you are aware of the disbursements that will be involved for your client's matter, but do not intend to pay before your client pay these disbursements, then an anticipated payment would be the best way to go.
Let us know if you require further assistance.
Best regards,
Seng
Expand Post
Hi @Siobhan Dunne (Customer),
Thank you for posting on LEAP Community Discussions.
The key difference is that a cost recovery is for short-term expense and an anticipated payment is for long-term expense.
If you are aware of the disbursements that will be involved for your client's matter, but do not intend to pay before your client pay these disbursements, then an anticipated payment would be the best way to go.
Let us know if you require further assistance.
Best regards,
Seng