Use this area to settle a Contract. When a contract is settled, its status will change to ‘Settled’, it is also at this point that any commission or advertising overspend is credited to the listing and selling agent. A settlement cannot be reversed.

You will not be prompted to settle a property unless the current logon date has reached or passed the Settlement Date assigned to the contract.

It is advised that the Trust Account ledgers be fully cleared before processing the settlement.

1.       Click on the Properties Function/Menu

2.       Select the Contracts Option Button. button.

3.       Ensure the correct Department is displayed/selected in the Department Drop Down List.

4.       At the top of the List of records area enter your search criteria in the Look for field. You may

search for a Contract using any of the Address fields, for example 12 Middlegate Street, Sydney. You may enter, 12 or Middlegate or Street or Sydney. Note: You are also permitted to enter abbreviations such as “Mid” or part of the word contents such as “gate”.

5.       Click on the Find Now button.

6.       The system will display all results in the List of records area below. 

7.       Double left click on the Contract to display its details in the Active Window.

8.       On the General tab ensure that all details previously entered are correct, in particular check

that the Settlement date is correct.

9.       On the Divide Commission tab ensure that all details previously entered are correct, in

particular check that all Commission details are correct.

10.     If the current logon date has reached or passed the Settlement Date recorded on the

Contract, the Settle button will be available.

11.     Click the Settle button to settle the contract.

12.     A message will appear “Setting a contract is irreversible; ensure Company & Sales staff

commission splits are correct before you continue. Are you sure that they are all correct?” Click on Yes if all the details of the contract are correct.

13.     The Select Credited Date screen will appear. Select the relevant date to credit the sale staff

commission, e.g. select the Settlement Date option button if you want the commission to appear on their commission statement on the Settlement Date of the property, or select the Today’s Date option button if you want the commission amount on the current login date.

14.     Click on the OK button.

15.     A message will appear “Are you sure you want to credit commission on this date?” Select Yes

or No accordingly.

16.     Click on Save and Close to save the information entered, alternatively click on the X at the top

right corner of the screen, a message will appear “Do you want to save changes? Select Yes, No or Cancel accordingly.