Reports in Clio Manage are designed to help your law firm track deliverables and get insights into all aspects of how the firm is performing. Online payments reports provide a comprehensive overview of online payments transactions for firms that have Clio Payments enabled. See below for a summary of each payments report in Clio Manage and what type of information the report offers.
The monthly statements report is designed to give firms using Clio Payments a detailed history of all online payments. You can use this report like a monthly bank statement for bookkeeping and tax purposes.
The ledger report is designed to give firms using Clio Payments a detailed view of all transactions by type and status. This report includes charges, fees, refunds, disputes, and payouts, along with transactions that are authorized, completed, failed, disputed, dispute won, dispute lost, voided, and refunded. You can use this report to reconcile records between bank accounts and transactions in Clio.
The transaction report is designed to give firms using Clio Payments a detailed view of authorized payment transactions including charges and processing fees.
The deposit report is designed to give firms using Clio Payments a detailed breakdown of deposit amounts and respective transaction fees. This report does not show authorized payments. You can use this report to identify total fees charged daily and monthly and view the net amount deposited.
The form 1099-K report is designed to give firms using Clio Payments a detailed view of online transactions and settlements. This report is required by the Internal Revenue Service (IRS) for any account that has collected more than $20,000 USD and processed a minimum of 200 transactions using Clio Payments. This amount refers to gross amounts and does not include refunds, voided transactions, or adjustments. You can use this report for tax purposes.
By default, your firm will receive electronic copies of your form 1099-K report once you sign up for Clio Payments. After signing up, you still have the option to change your electronic delivery consent to a paper copy consent. If you want to receive a paper copy of your form 1099-K report, contact Clio's payment operations team at firstname.lastname@example.org prior to January 10.