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Settlement Statements, Adjustment Sheets & Statement of Adjustments

Create accurate settlement statements, adjustment sheets and statement of adjustments, fast.

Settlement Adjustment Sheet (NSW)

The New South Wales Settlement Adjustment Sheet includes a toolbar which contains a button for each of the adjustment options (including council rates, water/sewerage rates, strata levies, insurance premium, land tax, water usage, default interest, rent/occupation fees). As you create each of the adjustments, the form will automatically recalculate the figures as you go.

Within time related adjustments, there is the option to calculate unit/lot entitlement for strata properties or the area/day basis for properties on multiple rate assessments. Water usage can be adjusted based on either daily consumption or the last 2 readings with an option to calculate using tiers or the last 2 readings.

You can also create customised miscellaneous adjustments as a one off, or you can save them for future use by your firm. Other features include entry of comments, as well as the option to alter adjustments easily within the document.

Statement of Adjustments (VIC)

The Victorian Statement of Adjustments automatically creates 5 apportionable items by default i.e. Rates, Drainage, Parks & Gardens, Water Service and Sewerage Service Charges. Based on the Settlement Date in your matter, the correct time period for these charges is automatically generated and a simple figure entry is all that is required to generate calculations.

Also included is functionality to calculate rates/usage for individual lots on subdivisions together with the ability to apply GST to selected items. Other features include entry of fees for any discharge of mortgages and/or withdrawal of caveats, any applicable penalty interest and/or license fees, as well as unlimited entry of items for: apportionables, non-apportionables, Usage, Rental and Cheques.

Settlement Statement (QLD)

The Queensland Settlement Statement provides the option to create various adjustments including rates, water access & sewerage, water usage, licence fees, investment property rent, land tax, and body corporate.

The form allows for access charges whether billed in advance or in arrears, as well as up to 3 tier water usage calculations and settlement periods that span over financial years with a water price change. You can also create settlement cheques and add any settlement requirements that are to be included in the Settlement Statement.

Settlement Statement (SA)

The South Australia Settlement Statement is 3 statements in 1 where you can easily switch between the 3 statements with the click of a button. The 3 statements are: Purchaser Statement, Vendor Statement and Adjustment Statement - the adjustment figures will re-calculate to suit the statement chosen.

Each statement also allows for entry of various fees including discharge of mortgage, stamp duty, tax invoice and transfer registration fees, as well as time related items, water usage, rent/occupation fees, and default interest. You can also enter customised miscellaneous items, any additional relevant comments and generate cheques within each statement.

The Settlement Statement caters for up to 3 tier water usage calculations and different tier counts (residential, strata, commercial), as well as settlement periods that span two financial years with a water price increase. Multiple separate water usage adjustment are possible on the one statement.

Other features include right click functionality within each statement to allow you to easily add, edit, include or exclude items, or to simply move up or down any items.

Settlement Statement (WA)

The Western Australia Settlement Statement allows for the generation of the Seller Statement, Buyer Statement and Adjustment Statement. Various adjustments can be entered in either statement including unlimited entries for Time Related items (apportionable), Rental, Miscellaneous Items (non-apportionable), Penalty Interest and Cheques. Items can be re-calculated easily with a keystroke and re-ordering items is equally simple with a click of the mouse.

Within each statement, you can also add Transfer Registration Fees, Mortgage Registration Fees, Discharge Registration Fees, Withdrawal of Caveat Registration Fees, Stamp Duty, Settlement Agent's Fees, Disbursement Fees, ELNO Fee and Lender's Finance, where applicable.

The water usage adjustments can be calculated either based on average daily consumption, last 2 readings or manual entry of adjustments. You also have the ability to add customised miscellaneous adjustment and any additional comments within the statement.

The benefits of using LEAP for settlements

LEAP provides firms practicing Conveyancing an efficient way to create accurate settlement statements, adjustment sheets and statement of adjustments, fast. With one consistent approach for all states (excluding NT & TAS), LEAP has the tools you need to get this complex and time consuming form completed effortlessly.

LEAP will support you through each step of your transition:

  • Data is entered once and is retained and fully updateable.
  • The forms are constantly kept up-to-date with legislative and cost changes.
  • Changes to settlement dates are easily re-calculated.
  • Complex calculations can be completed effortlessly to avoid the dangers of broken Excel calculations.
  • Training needs and support staff hours are significantly reduced.

New Features of Settlement Adjustment Sheet

New Feature

Statement View

Create multiple Statement types in the one document.

Set your Statement view option within all Adjustment Items, Fee Items and Direction Items at the time of creation of the Item.

Prepare an Adjustment Statement for apportionable items between the parties. Once settlement figures are finalised, prepare a Seller Statement (when acting for the Seller) or a Buyer Statement (when acting for the Buyer) with one click.

New Feature

Time Period auto Start/End date calculation

Select the 'Time Period' for any Time Related Adjustment and the relevant Start and End dates will automate for that Period based on your Adjustment Date. These dates can also be easily amended within the fields.

New Feature

Create Direction Item

At the time of creating your Adjustment, you can also create a 'Direction Item' directly within the same table by selecting the 'Create Direction item' tick-box located in every Adjustment Item table.

All new features

Statement View

  • Create multiple Statement types in the one document
  • Statement View option on each Adjustment Item, Fee Item and Direction Item

Matter

  • Settlement and Adjustment Dates write back feature

Adjustment Items

  • Create Direction Item tick-box
  • Other Adjustment Title option
  • Time Period auto Start/End date calculation
  • Tiers in Usage Adjustments
  • Unit/Lot Entitlement or Proportional Area basis in both Time and Usage Adjustments
  • Alter Adjustments option

Default Interest

  • Include End Date tick-box

Fee Items

  • Create Direction Item tick-box
  • Costs & Disbursements option
  • Stamp Duty option
  • Registry Fees option
  • ELNO Fees option

Direction Items

  • Direction Item write back functionality
  • Auto population of Payee details
  • Auto select Payee from card in matter
  • Balance Direction tick-box
  • Auto creation of Residential Withholding Tax Direction item
  • Direction Amount Remaining display

Comments

  • Comments is now a separate Item section

Adjustment Summary

  • Display Direction Totals
  • Easily identify Total Funds drawn by Bank, Client or Trust
  • Direction Amount Remaining display

Adjustment Summary

  • Amount Due on Settlement write back feature

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