QLD - Reconciliation Statement - Sale

Getting the most out of automated documents

Reconciliation Statement - Sale - QLD 

Where it is

State: QLD

Path: Conveyancing/Sale/Settlement

What it looks like

Where the data comes from

Calculation: Purchaser's surname(s) obtained from Purchaser contact card(s) and Vendor's surname(s) obtained from Vendor contact card(s)

Property Details: Property Address

Conveyancing Details:  Settlement Date

Calculation: Matter Info: Person Responsible Initials: Matter number

Conveyancing Details: Sale Price

Conveyancing Details: Deposit Paid Amount

Settlement Financials: Total of all adjustments

Settlement Financials: Cheques: List of all cheques entered

Settlement Financials: Cheques: Total of all cheques entered

Settlement Financials: Amount due on settlement

Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been no amount released

Conveyancing Details:  Deposit Paid amount

Agent Details: Total fees

Calculation: Deposit Paid amount less Agent Details: Total fees
Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been funds released
Calculation: Returns when Deposit Paid less Released Amount less Agent's Details leaves no funds to disburse
Conveyancing Details: Deposit Holder is selected as Vendor's Agent and there has been funds released
Conveyancing Details:  Deposit Paid amount
Conveyancing Details: Released Amount
Agent Details: Total fees
Calculation: Deposit Paid less Released Amount less Agent's Details: Total fees (see Handy Hints for further details)

Handy Hints

If the deposit does not display, ensure it has been selected as paid in Conveyancing Details
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
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
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.

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
   
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