Overview of Disbursement Rules in Re-Leased
Re-Leased allows you to run creditor disbursements even if there are unresolved items such as unreconciled bank statements, unpresented payments, or unpaid invoices. However, unresolved items can impact your Bank Reconciliation Report, potentially causing discrepancies that may affect trust accounting compliance. It is recommended to address these items before running the next disbursement whenever possible.
Handling Unreconciled Items and Unpresented Payments
If you encounter unreconciled bank statements or unpresented payments, you have two options:
Reconcile the items first: This ensures that your Bank Reconciliation Report remains accurate and compliant.
Proceed with the disbursement: If the unresolved items are unrelated to the ledgers being disbursed, you can proceed. However, discrepancies will remain in your Bank Reconciliation Report until these items are resolved.
Managing Unpaid Invoices in Disbursements
Approved but unpaid expense invoices are automatically included in creditor disbursements. To locate these invoices, navigate to the Property card and select "Invoices & Credits." If you wish to exclude certain invoices from a disbursement, adjust the disbursement’s include date to exclude them.
Best Practices for Trust Accounting Compliance
Reconcile regularly: Ensure that all bank statements and payments are reconciled before running disbursements whenever possible.
Review reports: Check your Bank Reconciliation Report for discrepancies after running a disbursement with unresolved items.
Adjust disbursement dates: Use the include date feature to manage which invoices are included in a disbursement.
By following these guidelines, you can effectively manage disbursements in Re-Leased while maintaining compliance and accuracy.