Summary
Learn how to pay trust funds to the vendor after releasing funds and processing outstanding invoices.
This article covers:
How it works
After releasing trust funds and settling all outstanding invoices, the final step in completing a sale is paying the remaining funds to the vendor. Box + Dice simplifies this process through a pending transaction that can be quickly processed from the Statement screen.
Once these steps are complete, a pending transaction will appear for the remaining funds allocated to the vendor.
Process the vendor payment
To process the vendor payment:
- Go to: Sales > Listings
- Select the listing
- Click Accounting > Statement
- Locate the transaction Pending Payment of Trust Money to Client
- Click Process
The Payment of Trust Money to Client modal will appear.
The vendor(s) will be automatically listed in the payment modal. You can adjust the recipients as needed. If payment details do not automatically populate, complete all fields.
- Enter the Transaction Date
- Select the Contact
- Enter the Amount
- Select Payment Type
- Optionally tick Exclude from ABA for manual payment
- Enter Bank Details
- (Optional) Use Add Contact, Add Vendor’s Solicitor, or Combine Payment
- Click Process to complete
A Trust Payment – Account Sale Vendor or Account Sale Vendor Solicitor record will be created, and the funds will be disbursed accordingly.
What’s next?
Learn how to reverse a trust payment.