This article will help you entering a trust deposit that you received from a buyer in a transaction. To do so, the next steps can be followed:
First things first, you must select the transaction from the transaction menu by clicking on the yellow pencil to the left of the transaction.
2. add a deposit by click on the Trust button at the top of the page
3. Click on Add deposit
4. Enter now the deposit information (fields with * are required)
Transaction type: Check deposit in this case
Receipt number: enter the number or use the Next number button to assign the next available number.
Original amount received: amount of the check received
Total Amount deposited: amount after conversion in the case of a check in another currency
If it is a security deposit for the transaction (sometimes occurs for rentals), you must select reason for deposit (Security deposit to be refunded). This way this amount will not have an impact on your invoice to the notary / lawyer or other agency.
5. Complete now the Contact section
Client: Optional - If the client is already in your contact files, you can use it and the other information will be automatically populated; if not, you can leave this box empty
Depositor Name: Mandatory - If not already in your contact list, you must enter the name of the depositor in this field.
Deposit type: Auto generated at DEPOSIT - do not change for a trust deposit
5. Click on Save and Close
Done!
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