Summary This articles provides an overview of the different receipt types available in the sales module of Property Tree. Once funds have been received for a sale you can create the receipt either by: Sales > Receipts & Banking > Create Receipt or Vendor / Buyer Profile > Actions > Create Receipt When creating a receipt for Sale profiles you will have 3 different receipt types which are covered in this article: Vendor Receipt Buyer Receipt Unknown Receipt Vendor Receipt The details of the selected Vendor display on the Create Receipt Screen and Receipt Type defaults to 'Vendor' Vendor funds must be receipted against a particular sale property. If the vendor is selling multiple properties, select the specific property you want to receipt to from the Sale Address drop down list. If the vendor is only selling one property, it is selected by default. Receipt Type - In the Receipt Type field select the ledger account you want to receipt into. The balance of the selected account displays. Vendor funds can be receipted into: The Marketing & Sundries account - This account is used when the vendor pays for advertising or other costs in advance. If no buyer has been added this account is selected automatically. The ledger for any contract for sale - These accounts are identifiable in the drop down list by the buyer name. Vendor funds may be receipted into this account if, for example, the deposit was not sufficient to cover the agency's commission and the vendor pays the balance into your trust account. Received Date - Enter or select the date that the funds were received, as displayed on your bank statement in the Received On field. For over the counter payments, select the current date. Amount - Enter the amount Received From - The Received From field is automatically populated with the name of the primary contact for the Vendor. Edit if required to indicate who lodged the funds. Description - Enter a detailed description as this will be displayed on the ledger and statements for the sale of the property. Payment Method - Select the Payment Method from the drop down list and select the correct payment method. Click Create Receipt The newly created receipt is added to the Recent Receipts pane at the bottom of the screen. Buyer Receipt The details for the selected Buyer display on the Create Receipt Screen and Receipt Type defaults to 'Buyer' Buyer funds are receipted against a particular contract of sale. If the buyer is buying multiple properties, select the address of the property you want to receipt for in the Sale Address drop down list. If the buyer is only buying on property, it is selected by default. Enter or select the date that the funds were received, as displayed on your bank statement in the Received On field. For cash payments, select the current date. Enter the amount received The Received From field is automatically populated with the name of the primary contact for the buyer. Edit if required to indicate who lodged the funds. Enter a detailed description as this will be displayed on the ledger and statements for the sale of the property. Select the Payment Method from the drop down list and select the correct payment method. Click Create Receipt. The newly created receipt is added to the Recent Receipts pane at the bottom of the screen. Unknown Receipt Create an Unknown Funds receipt for any unidentified credits that display on your bank statement. Unknown funds can later be assigned to a tenancy or ownership funds can later be assigned to a tenancy or ownership when they have been identified. Create an Unknown Funds receipt for any unidentified credits that display on your bank statement. Unknown funds can later be assigned to a tenancy or ownership when they have been identified Click Create Receipt in the Receipts and Banking Pane on the Accounting Page. The Recent Receipts pane displays the last 5 receipts create in Property Tree Click the View icon to view a copy of the receipt Click the Print icon to generate a printable .pdf of the receipt Select Unknown from the drop down list Details of the Unknown account including the current balance display automatically Enter or select the date that the funds were received, as displayed on your bank statement in the Received on field. For over the counter payments, select the current date. Enter the amount received as it displays on your bank statement in the Amount Received field. The Received On field is automatically populated with the word Unknown. Enter a meaningful description in the Description field, indicating who you think may have deposited the unknown funds. The Payment Method Direct Deposit cannot be changed for this receipt type. Populate the reference field with any reference that displays on your bank statement. Click Create Receipt The newly created receipt is added to the Recent Receipts pane at the bottom of the page. NOTE: If you have multiple offers on a property and receiving funds from multiple prospect buyers you will create Unknown Receipts until an offer is accepted. You can then assign the funds to the buyer once the profile has been entered and the refund of deposit for the other prospect buyers can be paid out directly from the Unknown funds screen.

Create Sales Receipt

Last updated on May 2, 2022 at 1:14 AM

Summary

This articles provides an overview of the different receipt types available in the sales module of Property Tree.

Once funds have been received for a sale you can create the receipt either by:

Sales > Receipts & Banking > Create Receipt

Vendor / Buyer Profile > Actions > Create Receipt

When creating a receipt for Sale profiles you will have 3 different receipt types which are covered in this article:

Vendor Receipt
Buyer Receipt
Unknown Receipt

Vendor Receipt

The details of the selected Vendor display on the Create Receipt Screen and Receipt Type defaults to 'Vendor'
Vendor funds must be receipted against a particular sale property. If the vendor is selling multiple properties, select the specific property you want to receipt to from the Sale Address drop down list. If the vendor is only selling one property, it is selected by default.
Receipt Type - In the Receipt Type field select the ledger account you want to receipt into. The balance of the selected account displays.

Vendor funds can be receipted into:

The Marketing & Sundries account - This account is used when the vendor pays for advertising or other costs in advance. If no buyer has been added this account is selected automatically.
The ledger for any contract for sale - These accounts are identifiable in the drop down list by the buyer name. Vendor funds may be receipted into this account if, for example, the deposit was not sufficient to cover the agency's commission and the vendor pays the balance into your trust account.
Received Date - Enter or select the date that the funds were received, as displayed on your bank statement in the Received On field. For over the counter payments, select the current date.
Amount - Enter the amount
Received From - The Received From field is automatically populated with the name of the primary contact for the Vendor. Edit if required to indicate who lodged the funds.
Description - Enter a detailed description as this will be displayed on the ledger and statements for the sale of the property.
Payment Method - Select the Payment Method from the drop down list and select the correct payment method.
Click Create Receipt
The newly created receipt is added to the Recent Receipts pane at the bottom of the screen.

Buyer Receipt

The details for the selected Buyer display on the Create Receipt Screen and Receipt Type defaults to 'Buyer'
Buyer funds are receipted against a particular contract of sale. If the buyer is buying multiple properties, select the address of the property you want to receipt for in the Sale Address drop down list. If the buyer is only buying on property, it is selected by default.
Enter or select the date that the funds were received, as displayed on your bank statement in the Received On field. For cash payments, select the current date.
Enter the amount received
The Received From field is automatically populated with the name of the primary contact for the buyer. Edit if required to indicate who lodged the funds.
Enter a detailed description as this will be displayed on the ledger and statements for the sale of the property.
Select the Payment Method from the drop down list and select the correct payment method.
Click Create Receipt.
The newly created receipt is added to the Recent Receipts pane at the bottom of the screen.

Unknown Receipt

Create an Unknown Funds receipt for any unidentified credits that display on your bank statement. Unknown funds can later be assigned to a tenancy or ownership funds can later be assigned to a tenancy or ownership when they have been identified.

Create an Unknown Funds receipt for any unidentified credits that display on your bank statement. Unknown funds can later be assigned to a tenancy or ownership when they have been identified

Click Create Receipt in the Receipts and Banking Pane on the Accounting Page.
The Recent Receipts pane displays the last 5 receipts create in Property Tree
Click the View icon to view a copy of the receipt
Click the Print icon to generate a printable .pdf of the receipt
Select Unknown from the drop down list
Details of the Unknown account including the current balance display automatically
Enter or select the date that the funds were received, as displayed on your bank statement in the Received on field. For over the counter payments, select the current date.
Enter the amount received as it displays on your bank statement in the Amount Received field.
The Received On field is automatically populated with the word Unknown. Enter a meaningful description in the Description field, indicating who you think may have deposited the unknown funds.
The Payment Method Direct Deposit cannot be changed for this receipt type. Populate the reference field with any reference that displays on your bank statement.
Click Create Receipt

The newly created receipt is added to the Recent Receipts pane at the bottom of the page.

NOTE: If you have multiple offers on a property and receiving funds from multiple prospect buyers you will create Unknown Receipts until an offer is accepted. You can then assign the funds to the buyer once the profile has been entered and the refund of deposit for the other prospect buyers can be paid out directly from the Unknown funds screen.