Table of Contents
Getting Started
Ensure that all details have been entered into Settlement Financials of your Matter before generating the SA Sale Settlement Statement.
Generate SA Sale Settlement Statement
1. Select Precedent from the Matter Action Bar.
2. Select Conveyancing Sale category and then select the Settlement folder.
3. Double-click Settlement Statement to open the precedent in Word.
Where the data comes from
| 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. | Sale Price | Conveyancing Details |
| 5. | GST on Sale Price | Conveyancing Details |
| 6. | Adjustments | Settlement Financials > Add Statement Item > Price & Adjustments |
| 7. | Payable items | Settlement Financials > When you select that payment is to be made on an Adjustment |
| 8. | Conveyancing fees | Settlement Financials > Conveyancing Fee and Disbursements (double click to edit) OR Add Statement Item > Our Fees & Disbursements |
| 9. | Agent's Commission | Agent Details |
| 10. | Discharge of Mortgage Registration Fee | Automatically populates. Can be removed if not required |
| 11. | Electronic Settlement Fee | Automatically populates. Can be removed if not required |
| 12. | Payout to Bank | Discharging Mortgagee > Mortgage Details > Payout Amount |
| 13. | Amount held for Water Consumption reading | Settlement Financials > Water Consumption > Less Amount Payable by Vendor (if this is calculated prior to settlement it will be Water Consumption > Amount Held Pending Reading) - note the balance payable to the Vendor will automatically adjust if the water consumption calculation is completed prior to settlement |
| 14. | Amount due to Vendor at settlement | Calculation = Settlement Financials Total credits less Total debits |
| 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 |
Handy Hints
- To remove an item from Settlement Financials hover over the entry and select the red X.
- To add an item to Settlement Financials select Add Statement Item to create your own, or select the dropdown arrow to select from the available options.
- A payment to the agent will be automatically created in Settlement Financials if the total payable to the Agent is more than the deposit or the agent is not holding the deposit. Be sure to check in Conveyancing Details that you have marked the deposit as paid and selected who is holding the deposit.
- The amount payable to the bank will automatically populate onto your settlement financials on the first tab in the summary section so that it does not interfere with adjustments. A payment will also automatically be created on your payments screen. You can adjust the payment type and amend the name of the discharging mortgagee if cheques are payable to a different name than displayed on your card. The discharge amount will also be displayed on your settlement statement. If you need to amend the payment amount at any point this can be done by amending the details entered at Discharging Mortgagee > Mortgage Details > Payout Amount.
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