SettsPlus

2.3 - Extra Charges

The Extra Charges screen is used to enter items such as Termite Reports, Structural Reports, Repairs and Funds to be Held. Initially for Termite Reports, you enter the details, tick the Held in Trust button, then select for Who, i.e., the Buyer or seller, then when the Termite Account is received, untick the funds held and enter the amount of the account. This screen will also debit or credit one party or another. (show the dropdown – Sellers is V, Buyer is A and Both is B) If acting for a Seller and you wish to credit the Buyer for repairs, you enter the details, the amount e.g., $500.00 then in the For Whom select B for both. This will then debit the Seller and Credit the Buyers Settlement Agents Statement. Alternatively, if you are acting for the Seller and wish to charge Penalty Interest, you would enter the amount e.g., -$500.00 then the For Whom select B for both, this will then credit the Seller and Debit the Buyer on the Buyers Settlement Agents Statement.

For settlement funds received from a Buyer prior to settlement, enter the details of the funds receipted, with the funds shown as “Settlement funds received from you -$10,000.00” this will then show correctly on the buyers statement.

Should you be holding the Deposit in your Trust Account, enter the details in the Extra Charges screen as “Deposit received from you 12/10/2014 -$5,000.00”, this will now show correctly on the Statement. Then take the Deposit of $5,000.00 out of the Contract Details screen or the amount will display twice in your Statement.

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