How to Create a Sales Disbursement in REST Professional
The sales module allows you to create Sales Disbursements in REST to pay out from the trust account to Creditors, Agents, Solicitors, Buyers and Vendors.
This document will assist you to:
- Create a Sales Disbursement by EFT
- Create a Sales Disbursement by Cheque
Steps to Create a Sales Disbursement by EFT
- Go to Transaction > Sales > Disbursement or Sale Disbursement icon
- Enter the Sale Property Alpha
- Select FROM Trust Account
- Select TO who the funds are to be disbursed to
- Enter TYPE e.g. Adverting or Commission
- Enter the Amount, Description and Ref. /Invoice No.
- Select to Process EFT Now, Add to Creditor Run or Add to Outstanding Disbursement
Process EFT Now - This feature process the payment and pays the funds from trust immediately, and remittance advice will be printed when you post the disbursement.
Add to Creditor Run - A creditor disbursement is created, which will be paid the next time you run the Creditor Remittance and Payment function.
Add to Outstanding Disb - The payment is added to Outstanding Disbursements for processing later.
- Click OK-F12
- If you have chosen to pay Vendor, Buyer or Agent disbursement, this will pay the disbursement immediately. You will be prompted to create the ABA file for upload to the bank.
If disbursing advertising funds see Sale Advertising Funds Management instructions.
- Proceed to create your file for upload to the bank. Go to Transactions > Create File for Upload to Bank > EFT (ABA) Payments and click PRINT-F12.
Steps to Create a Sales Disbursement by Cheque
- Go to Transaction > Sales > Disbursement or Sale Disbursement icon
- Enter the Sale Property Alpha
- Select FROM Trust Account
- Select TO who the funds are to be disbursed
- Enter TYPE e.g. Adverting or Commission
- Enter the Amount, Description and Ref. /invoice no.
- Select to Process EFT Now, Add to Creditor Run or Add to Outstanding Disbursement
Print Cheque Now – Processes the payment and pays the funds from the trust immediately, a remittance advice will be printed when you post the disbursement
Add to Creditor Run - A creditor disbursement is created, which will be paid the next time you run the Creditor Remittance and Payment function
- Click OK-F12
- Check the cheque number is correct and click Start Printing
- Click Print and confirm the printer
NOTE: You must complete this step even if you cheques are hand written.
When disbursing to Vendor there are two types of transactions available being Advertising and Other.
- Selecting Advertising will debit the sale Advertising balance
- Selecting Other will debit the sale Deposit/Sundry balance
- Disbursing from Vendor, Buyer, Vendor’s Solicitor or Buyer’s Solicitor debits the sale Deposit / Sundry balance