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How to enter a deposit?

This article discusses how to enter deposits, manually, for money received from a client.

A trust account functions like a checkbook, allowing you to manually enter deposits for monies received from a client. If the funds received apply to more than one client, you can use the Split Information section to distribute the amount among multiple clients.

To enter a deposit: 

  • Click the users Trust Accounts drop-down in the left panel of The Mortgage Office®.
  • From the list of Trust Accounts that are listed, select the trust account drop-down to enter the deposit in. 
  • From that drop-down, click All. 
    • You can also click any one of the client names under All to make a deposit directly from a client's ledger. 
  • In the grid or the Client's ledger click action Actions from the options available on the top panel and select dollar-sign-solid Enter Deposit.
  • Enter the following information:
 Field: Description:
Apply to Client

Enter the client account. Once a valid client account is entered, the client's name and address are displayed.

TIPS:

  • Enter the client account number, or click , to open a lookup window and select a client from the list. For more details see How to Use Lookup Windows.
  • If the client does not have an account, you may create one at this time by selecting the New Client hyperlink. 
  • The client account, name, and address are automatically populated when entering transactions directly from a client's ledger.
From Whom Received

Enter the account number of the payer providing the funds.

TIPS:

  • If the payer does not have an account, you may create one at this time by selecting the New Payer hyperlink.  
  • If the funds were received from the client into whose account the funds are being deposited, you can simply click the From Client hyperlink to copy the client's information.
Received

Enter the date you received the funds.

TIP: The received date must be on or before the deposit date.
Deposited

Enter the date you will deposit the funds into the bank. Typically, the date received, and the date deposited will be the same. In many cases, the number of days that funds can be held before being deposited is regulated by law.

TIP: The deposited date must be on or after the received date.
Reference Enter the reference number. (Maximum of 10 numeric characters)
Amount

Enter the amount of the deposit.
Memo You may enter a memo to further identify this deposit. (Maximum of 255 characters)

To split the deposit: 

  • In the Split Information section, click Add new PLUS sign w border_r-PNG New or Table pencil Edit icon with border_r-PNG Edit to add or modify a split.
  • Enter or edit the information below then click OK OK to save the split, or CANCEL Cancel to abort.
Field: Description:
Account

Enter the client account.

TIP: Enter the client account number, or click , to open a lookup window and select a client from the list. For more details see How to Use Lookup Windows.
Client Name Once a valid client account is entered, the client's name and address are displayed. This is a read-only field.
Memo

You may enter a memo to further identify this transaction. (Maximum of 255 characters)

TIP: Split memos are only displayed in the Splits control or when viewing transactions from the client's ledger.
Category

You may select a category for this split. The available options are:

  • None
  • Impound
  • Reserve
Amount Enter the amount of the split.
  • Click delete Delete to remove a split or click refresh Clear Splits to clear the splits.
  • Click OK OK to save the deposit or CANCEL Cancel to abort.
 
 
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