Purchase Settlement Statement - SA

Modified on: Fri, 21 Jun, 2024 at 11:51 AM

Getting Started

Ensure that all details have been entered into Settlement Financials of your Matter before generating the SA Purchase Settlement Statement.

1. Select Precedent from the Matter Action Bar.

2. Select Conveyancing Purchase category and then select the Pre Settlement folder.

3. Double-click Settlement Statement to open the precedent in Word.

1.	Property Address	Property Details
2.	Anticipated Settlement Date	Settlement Financials
3.	Adjustment Date	Calculation = The Adjustment Date will automatically populate as the day before the Settlement Date, unless you overwrite it in Settlement Financials
4.	Purchase Price	Conveyancing Details
5.	GST on Purchase Price	Conveyancing Details
6.	Deposit Paid	Conveyancing Details
7.	Adjustments	Settlement Financials > Add Statement Item > Price & Adjustments
8.	Conveyancing fees	Settlement Financials > Add Statement Item > Our Fees & Disbursements
9.	Stamp Duty on Transfer	Automatically populates from Conveyancing Details > Stamp Duty, Tax & Registration tab
10.	Transfer Registration Fee	Conveyancing Details > Stamp Duty, Tax & Registration tab > Duty Payable, unless overwritten (see Handy Hints)
11.	Discharge of Mortgage Registration Fee	Automatically populates. Can be removed if not required
12.	Electronic Settlement Fee	Automatically populates. Can be removed if not required
13.	Funds from Incoming Mortgagee	Settlement Financials > Add Statement Item > Other Debits & Credits > Add as Credit
14.	Amount required from Purchaser amount	Calculation = Settlement Financials Total debits less Total credits
15.	Total GST	Calculation = GST payable on Fees & Disbursements for tax invoice component of Settlement Statement
16.	Totals	Calculation = Total of all debits and Total of all credits

The deposit status must be selected as Paid in Conveyancing Details for the amount to populate.
To remove an item from Settlement Financials hover over the entry and click the red X.
To add an item to Settlement Financials select Add Statement Item or use the down arrow to the right, and select from the dropdown menu.
In this example, the Discharge of Mortgage Registration Fee payment has been removed and the Transfer Registration Fee has been manually overwritten to include the Discharge of Mortgage Registration Fee so that only one payment is made for the purposes of registration.