Using the Sale Reconciliation

12/12/2025
Knowledge

How To

The Reconciliation table allows for accurate recording of not only directions that are due at settlement, but also any amounts coming in or out, for example legal fees, disbursements.

By tracking these figures, you can reconcile all incoming and outgoing amounts for the matter easily.

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Benefits of Using the Sale Reconciliation

Entries made within the Reconciliation table will be automated into forms and precedents, including directions.
There is no limit to the number of directions that can be entered through the Reconciliation table.
The Reconciliation table allows you to easily ensure that amounts balance. This is a good risk management tool to ensure that any amounts owing or paid are not missed in the settlement process.
In the Sale Reconciliation you can add: Settlement Directions, Amount due on Settlement, Costs and Disbursements.

Add New Transactions

Open the matter.
Make sure you're on the Details & Correspondence tab.
Open the Sale Reconciliation table type.

The Sale Reconciliation window will open.
Click New Transaction.

The New Transaction window will open.
For entering a Settlement Direction, data entered will automatically generate to the Settlement Adjustment Sheet or Reconciliation Statement.
- Amount - Amount of the transaction
- Payee - Who the transaction is to be paid to
- Direction Type - Type of transaction
- Funds to be drawn by - Select the option for Bank, Client or Trust
- Paid/Unpaid -
  - Paid - for transactions that need to be paid prior to settlement
  - Unpaid - for transactions that are to be collected or disbursed at settlement
- Purchaser to collect at settlement? - Whether the direction is being collected at settlement or not
- Comments - Internal notes for the user

Click to edit heading

The Settlement Adjustment Sheet will populate using the Reconciliation table. Any direction item entered into the LEAP for Word panel will automatically write back to the Purchase or Sale reconciliation – to avoid duplication, only enter the information into one of these areas.
If your direction items do not appear as expected on the Settlement Adjustment Sheet or Reconciliation Statement, please perform an Automation Repair, then try generating the document again.

Click to edit heading

To enter multiple directions at a time, select Save and New which will save the previous entry and allow the next item to be entered.

Amount due on Settlement can be entered here to balance the other items entered.
Costs allow for entry of professional costs.
Disbursements allow for entry of disbursements.

Click to edit heading

The description list for Costs and Disbursements are customisable.

To customise these lists, click the drop-down menu of the Description field and scroll to the bottom then select Customise List.

Click Save to add the new transaction.

Click to edit heading

Current matters that have cheques entered on the Cheque Details layout will be automatically transferred to either the Sale or Purchase Reconciliation, depending on the matter type.

Amend Transactions

To amend a transaction, double click on the transaction line to open the transaction, then make your necessary changes.
Click Save.
To change the order of the transactions, highlight the Transaction then drag and drop.

Use the Sale Reconciliation as a Statement

Ensure that the Sale Reconciliation balances.
From the Display drop-down list you can group and view a specific transaction type such as Settlement Directions. Alternatively, to use the Reconciliation table as a Reconciliation Statement, select All Transactions from Display.
Select to print the screen or to print to PDF.
Alternatively, you may wish to use one of the LEAP precedents ‘Settlement Statement’ or ‘Statement - using sale recon layout’ as a Reconciliation Statement.

Add New Transactions

Open the matter.
Make sure you're on the Details & Correspondence tab.
Open the Sale Reconciliation table type.

The Sale Reconciliation window will open.
Click New Transaction.

The New Transaction window will open.

Click to edit heading

Click to open the New Transaction window in a new window.

For entering a Settlement Direction, data entered will automatically generate to the Settlement Adjustment Sheet or Reconciliation Statement.
- Amount - Amount of the transaction
- Payee - Who the transaction is to be paid to
- Direction Type - Type of transaction
- Funds to be drawn by - Select the option for Bank, Client or Trust
- Paid/Unpaid -
  - Paid - for transactions that need to be paid prior to settlement
  - Unpaid - for transactions that are to be collected or disbursed at settlement
- Purchaser to collect at settlement? - Whether the direction is being collected at settlement or not
- Comments - Internal notes for the user
Amount due on Settlement can be entered here to balance the other items entered.
Costs allow for entry of professional costs. This list is customisable.
Disbursements allow for entry of disbursements. This list is customisable.

Click to edit heading

The description list for Costs and Disbursements are customisable.

To customise the list, click the drop-down menu of the Description field and scroll to the bottom then select Customise List.

Click Save to add the new transaction.

Amend Transactions

To amend a transaction, click on the transaction line to open the transaction, then make your necessary changes.
Click Save.

Remove Transactions

To delete a transaction, tick the checkbox for the relevant transactions.
Click Selected Items and then Delete Selected.

Last Modified Date

12/12/2025 10:11 am

Title

Using the Sale Reconciliation

URL Name

How-to-Use-the-Sale-Reconciliation-AU

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