Enter a Payment from Trust Account ( Spend Funds)

Enter a Payment from Trust Account ( Spend Funds)

This article will go over how to enter a payment and spend funds from the trust account.
  1. Watch the video


Getting started

  1. Use the Quick Search bar to find the listing
  2. Go to the Trust Accounts tab on the left side of the screen
  3. Click on Spend Funds

Spend Funds

Info
The items with a red asterisk must be entered before saving
  1. Spend Funds -Fill in the details below as required:
  2. Date Paid
  3. Status - Not Yet Posted (draft) | Posted
  4. Amount
  5. Method
    1. Cheque - Complete the addition fields for cheque details: Cheque number, Bank account details
    2. EFT - EFT reference number and Bank account details

  6. Paying these items
    1. Who you're paying.
    2. Action( Type): Pay Commission | Pay Other | Return Funds | Pay Seller
    3. Particulars - More info on the details of the payment - you can include further info for EFT payments such as the name of the account holder, Bank details as required by some state regulations.
    4. Amount
    5. Click on the + to add another line option for the same payee

Info
You cannot pay from trust more than the balance held for that listing ledger
Info
Remember to pay the Seller their share of the proceeds first or simultaneously with any other parties.
Only withdraw your own fees or commissions after making all other payments.