Edit or Cancel a Raised Fee

For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.

This article provides detailed instructions for editing or cancelling fees that have been raised but are not yet disbursed. Understanding how to manage your raised fees will help keep your financial records accurate and reflective of real-time changes.

Identifying and Managing Raised Fees

In situations where you have raised a fee that has not yet been processed for disbursement, you can either edit its details or cancel it altogether:

Locating the Fee

1. Navigate to the property and select the Fees tab on the left-side menu.
2. You will now see a list of all fees related to that property.
   
   

Editing or Cancelling a Raised Fee

1. Identify the fee with the status labelled as Raised.
2. Next to the raised fee entry, you will find a Contextual Menu [...]. Click to expand your options.
3. To modify the details of the fee, select Edit and make the necessary changes.
4. If you need to cancel the fee, simply choose the Cancel option.

Keep in mind, once a fee is cancelled, this action is final and cannot be undone.

Handling Fees Post-Disbursement

If a fee has already been disbursed, it cannot be cancelled. However, if you need to issue a refund to the owner, follow these steps:

1. Transfer the funds back into the trust account from your general account.
2. Create an Income Invoice against the owner's ledger for the refunded amount.
3. Reconcile the returned funds to this invoice to allocate them to the owner's ledger. 
   
   

This method ensures that your accounting records reflect the returned funds appropriately and maintains a clear audit trail.