QLD - Reconciliation Statement - Sale

Where it is

State: QLD

Path: Conveyancing/Sale/Settlement

What it looks like

Where the data comes from

1. Calculation: Purchaser's surname(s) obtained from Purchaser contact card(s) and Vendor's surname(s) obtained from Vendor contact card(s)
2. Property Details: Property Address
3. Conveyancing Details:  Settlement Date
4. Calculation: Matter Info: Person Responsible Initials: Matter number
5. Conveyancing Details: Sale Price
6. Conveyancing Details: Deposit Paid Amount
7. Settlement Financials: Total of all adjustments
8. Settlement Financials: Cheques: List of all cheques entered
9. Settlement Financials: Cheques: Total of all cheques entered
10. Settlement Financials: Amount due on settlement
11. Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been no amount released
12. Conveyancing Details:  Deposit Paid amount
13. Agent Details: Total fees
14. Calculation: Deposit Paid amount less Agent Details: Total fees
15. Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been funds released
16. Calculation: Returns when Deposit Paid less Released Amount less Agent's Details leaves no funds to disburse
17. Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been funds released
18. Conveyancing Details:  Deposit Paid amount
19. Conveyancing Details: Released Amount
20. Agent Details: Total fees
21. Calculation: Deposit Paid less Released Amount less Agent's Details: Total fees (see Handy Hints for further details)

Handy Hints

1. If the deposit does not display, ensure it has been selected as paid in Conveyancing Details 
2. When the Deposit Holder is selected as Vendor's Agent, for the details of balance of deposit to the Vendor to calculate correctly, ensure the deposit is marked as Paid, the Deposit Holder is the Vendor's Agent and the Agent's Details have been completed with Commission & Fees
3. After a release of deposit, if the balance remaining is less than the Agent's Commission & Fees, or if the deposit is held by the Seller's Representative or Buyer's Representative, the same message that appears at 16 will appear on the reconciliation statement with an automatic cheque drawn for the balance/whole of the Agent's Commission & Fees from the settlement funds
4. To ensure that any amount released from the deposit is calculated correctly tick the Released checkbox in Conveyancing Details, the Deposit Holder is selected correctly and any agent's fees are noted on Agent's Details.
5. NOTE: If the deposit is held by the Seller's Representative or Buyer's Representative the same message that appears at 16 will appear on the reconciliation statement with an automatic cheque drawn from the settlement funds. The deposit will then be accounted for by the representative