Adjustments are essentially a way to account for funds that do not have a clear destination. This can happen for a variety of reasons, such as a deposit received without an associated property address. In these cases, the funds cannot be allocated to a specific sale or campaign, and therefore, an adjustment is created. Adjustments simply indicate that there are funds in the trust account that need to be properly categorised or allocated.
In order to balance your bank reconciliation you must record the unknown amount as an adjustment payment or an adjustment deposit.
In the below example, an unknown deposit has appeared in the sales trust bank account. Create an Adjustment Deposit
Select Deposit
Enter as many details available, along with the value of the adjustment & the date the amount hit the trust bank account.
Save the Record & Close
The Adjustment will now appear on the list of transactions on the reconciliation screen.
The bank reconciliation can now be processed.
NB: An Adjustment is not a transaction. It must be identified and linked to the correct file once you have determined its origin.
A trust adjustment inquiry displays any adjustments that need to be dealt with.
