IBD Transfer

Overview

IBD Transfer

Transactions

The term IBD Transfer, is used in Reapit Sales to describe the transfer of funds between a sales ledger in the main Sales Trust Account and the specific IBD Account logged against the same sale (offer/contract record).

• IBD Account details are logged against the specific Offer/Contract to which they relate. This is done via the Offers/Contracts tab of the related Property Card in your System.
• Every IBD Transfer equates to TWO transactions - ONE payment record and ONE receipt record. If transferring funds from the trust account to the IBD account, a payment will be recorded against the trust account's corresponding sales ledger and a receipt will be recorded against the corresponding IBD account and visa versa)
• If Trust is selected, IBD fields will appear in the opposing field (From/To) and visa versa.
• The transfer date must be the date the transfer is logged into your Sales Trust Accounting System.

1. Click on the Trust icon from the Main Menu

The Sales Trust panel will open

2. To enter a transfer select Transactions and New IBD Transfer

3. Search and select your listing from the Listing drop-down. Select the corresponding Sale (offer/contract).

4. Select the Account type the money is to be transferred FROM: If Trust is selected, IBD fields will appear in the opposing field (From/To) and visa versa.
5. Enter the transfer Particulars

• Staff member issued by
• Amount
• Payment Method is automatically selected:

i. From IBD to TRUST = Bank Instructions: It is assumed the bank currently holding the IBD account will disburse the funds for you.

ii. From TRUST to IBD = Direct Deposit

• Ref (This is a free text field, allowing you to enter unique references for EFT or bank cheque payments. This reference field does not have to contain numeric figures.)
• If applicable you may also add a comment

6. Press Submit & and the transaction record will appear in the list below. A pdf of the transfer receipt will also be generated. If you only want to add the transaction record to the list simply click .