Receipt a Deposit to a Listing (Sales Deposit)

Receipt a Deposit to a Listing (Sales Deposit)

The contract details must be entered into Aro and a trust account must be added to a listing before money can be deposited.

InfoIf this step has not been completed on this listing, please follow the relevant help article - Adding a Contract or Add a trust account to a listing
  1. Use the Quick Search bar to find the listing for which the deposit is being paid
  2. Check that the Contract has the correct details and is at the correct stage (If you do need to update the contract, ensure you edit the existing contract and do not create a new one)

Info
As a general rule, receipt Vendor Paid Advertising to the Sellers account and Sales deposits to the Buyers account

Buyer paying in a deposit example

  1. Click into the Buyers ledger account
  2. Click on Receive Funds
  3. Complete the details of the transaction (Ensure the Date Received matches the date of the transaction in the trust account)

  1. Complete the details of the transaction (Ensure the Date Received matches the date of the transaction in the trust account)
  2. If another person paid the deposit on behalf of the Buyer, ensure their name is entered in the Person paying money field
  3. Only use a manual receipt number if you are using a manual receipt book (All deposits are given an electronic receipt number)
  4. The option to mark Not Yet Posted is only to be used if you want to save the receipt as a draft
  5. Particulars: with any trust transaction, the more detail the better (With deposits, best practice is to add a note for if it is a first deposit and the percentage if applicable) [For example: Initial deposit of 2%]
  6. At the bottom of the page you can opt to print a receipt while saving the transaction (receipts can be printed and emailed after saving if preferred)
  7. Save the transaction once all details have been double checked (Trust transactions cannot be edited later)

Alert
Failing to enter funds under the correct trust account can have serious implications when your annual audit is performed
  1. You can now email or print a receipt using the email or print icons on the right hand side of the transaction

Info

Please contact support - support@arosoftware.com if you need further assistance with receipting funds.