3.2 - View Balances and Balance Sheet

View Balances

This is simply a function to give you a brief overview of the adjustment dates, balances, and disbursements. This screen is most useful when you are acting for a buyer and receive a statement from the seller, you can quickly see without having to print a statement whether or not your file is balanced to the figure you require to settle.

Balance Sheet

The Balance Sheet is segmented into screens for Receipts and Cheques. Press the “Reset” button when additional information has been entered into the rates area or if the adjustment date has been changed. With the deposit entered, the total amount of the Balance Sheet should be the same as the total amount on the bottom of your clients statement. All Funds going into and out of Trust are shown with a Tick.

Funds receipted into Trust prior to settlement, must also be entered as a Credit in the Statements Extra Charges area to show correctly in the Statements and then also in this Balance Sheet.

Using the Sellers Statement and the Buyers Agent’s Statement, Add the Deposit and any item that has been Credited to the Buyer’s Settlement Agent.

The Total at the bottom is now the same as the total at the bottom of the Statement to the Buyer’s Agent. Press “Finalise” to Lock the Balance Sheet.

Alternatively, some Agents balance to the Trust only and do not balance to the full Statement.

Please note: Any changes to the Adjustment Date or Rates and Levies after completing the above will require you to press the “Reset” to unlock the Balance Sheet and the changes will then register, then finalise and lock.

As with Balance Sheet Receipts, for Cheques, enter the Deposit and any Items that have been credited by the Seller to the Buyer’s Settlement Agents Statement. Enter Cheque split information. The Balance at the bottom of the screen for both Receipts and Cheques should now be balancing to the full statement.

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