TABLE OF CONTENTS
- Will sale commission money go through my Trust Account?
- What does the Trust Reconciliation do?
- How often should you reconcile transactions in your Trust Account?
- What should i do if i haven't reconciled for a few months?
- Do I have to reconcile when i have had no transactions?
- What do I do if I have reconciled the incorrect transaction ?
Will sale commission money go through my Trust Account?
No, as soon as the deposit has been receipted the program automatically knows that any additional money received must be commission money and will not go through the trust account.
What does the Trust Reconciliation do?
The reconciliation process is a tool to reconcile the transactions recorded in OSL Office Live with the ‘real world’ transactions as shown on your bank trust account.
How often should you reconcile transactions in your Trust Account?
This is up to you but we recommend that you balance you Trust account every day even if you do not hit the Reconcile button until the end of the month.
What should i do if i haven't reconciled for a few months?
To a reconciliation for each month , enter the Closing Date and Balance for the first month. Reconcile and then repeat until you are up to date.
Do I have to reconcile when i have had no transactions?
Yes you should still reconcile your Trust account even if you have had no transactions.
What do I do if I have reconciled the incorrect transaction ?
Contact the OSL help desk and we can un reconcile your last Trust rec for you