Overview
Once the proceeds from the settlement are in, they will need to be divided up and sent off to the right people. In this example, we'll be talking about disbursing funds to two vendors and a conjunctional agent along with our commission. Both vendors have requested separate accounts to be credited. Additionally, the trust account will be paying out the conjunctional agent directly.
Bank Accounts
EFT details can be added to each client prior to processing the Account Sale.
Click through to the client card.
Enter bank details and Save
Breakdown
We have separate accounts for each Vendor
Along with a Conjunctional Agent
To begin, update the status to Account Sale.
Select "Split" to view the current breakdown
In this example, $10,000.00 will be paid directly to the conjunctional office.
The balance of $8,700.00 being our commission will be transferred to our trading account.
There are also two separate payments of $15,650.00 to each vendor.
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Select "Don't Split the Trust Payment" if two transactions are not required as you may choose to pay the conjunctional office directly from the trading account.
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Select Process to create all transactions along with the Account Sale Statement