Using Client/Trust Accounts without bank statement import or regular reconciliation - configuration option

Owned by Fiona Wilson
Last updated: Jun 28, 2022
2 min read

Standard Reapit Client Accounts functionality requires client accountants to upload bank statements in order to reconcile incoming and outgoing funds

However, a configuration option is available which allows Reapit Client Accounts functionality to be used without the use of bank statements - instead requiring the client accountant to input receipts manually

To enable this feature, click here to contact Reapit Support

 

When this function is enabled, receipting items is carried out via the relevant tenancy screen, as follows:

1. Receiving funds

From the tenancy, in the Accounts Functions panel: 

  • Expand the Receipts section and select Allocate / Branch Receipts


  • Enter details for the receipt

    When dealing with cash or cheque deposits, see step 1a


  • Click Create Postings 

    Close the Tenant Receipts screen and skip to step 2

1a. Depositing cash or cheque

When depositing cash or cheques, as these transactions are not instantly available in the client account, they will display as Awaiting Banking until a Branch Receipts Deposit Form is completed

From the tenancy, in the Accounts Functions panel

  • Click View Transactions

  • Double-click the cash/cheque deposit

  • The transaction will display with an Auth Status of Awaiting Banking (for a deposit that is instantly available, e.g. a credit card payment, this status will be blank)

When taking the cash/cheque to the bank:

  • Click Lettings and select Branch Receipts Deposit Form
    All current items for your office awaiting banking will be totalled

  • Click Accept
    The form will be automatically generated and shown on screen
    It can be printed, as required

  • Click Yes on the confirmation message

    The status of the selected transactions will now be blank, indicating that they are cleared

2. Bank reconciliation

When items are ready to be paid:

  • Click Lettings and select Bank Reconciliation

  • Tick the items that can be reconciled

  • Click Post