GeeDee for Windows

Sales Deposits

Sales Deposits

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Sales Deposits

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The system may also be used to process property sales. In order to do this the user must create a new sales type Trust Account for each sale that is processed.

 

Once you have created the account for a property sale, receipts and payments for the sale can be processed. The system then maintains a separate account balance and history. Use the reminder system to record and remind the user of important dates that have to be remembered (e.g. settlement etc.).

 

The procedure for processing a sale is:

Create a New Sales Type Trust Account. Use the address of the property as the name of the account.
Receipt the deposit into the account. The account now has a balance equal to the deposit.
Pay the deposit less commission out of the account to the settlement agent.
Pay the commission to the company account.

 

 

Note: Alternatively, you can go directly to the Property Sale Deposit option where you can receipt the funds and set up sales ledger at the same time. The Sales Deposit item provides a simplified process of automating the first two steps.

 

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