HandiTrust 2015 Handling fees
Handling fees
A handling fee is a nominal amount that you deduct from a client’s trust card to cover your firm’s processing costs.
When you charge a handling fee, the following occurs:
1. The value of the handling fee is transferred from the client's trust card to your firm's trust card.
At this stage, the balance of the trust bank account has not changed. You have simply transferred money from one trust card to another. (Both the client's trust card and the firm's trust card form part of the trust bank account).
2. You process a Firm Payment transaction to withdraw money from your firm's trust card.
When you withdraw funds from your firms trust card, money is removed from the trust bank account. Consequently, the balance of the trust bank account is reduced.
Tip: Handling Fees are transferred from the client’s trust card to your firm’s trust card. To withdraw the Handling Fee from the bank account, you must process a
Firm Payment transaction (see Chapter 10, "Entering Transactions").
When you record a handling fee in HandiTrust 2015, you can do either of the following:
Have HandiTrust 2015 automatically enter a default handling fee.
Manually enter the value of the handling fee.
Note: HandiTrust 2015 does not apply handling fees to ATO Refund transactions. Handling fees are applied only to Client Payment and Client Receipt transactions.
Default handling fees
Default Handling Fees are stored in the Firms database.
Once you have established the default handling fees, the value of handling fees will automatically be inserted as you input transactions. You can override the value of the default handling fees at the time of data entry.
To create default handling fees:
1. From the
View menu, click Firms to open the “Firms” window.
2. Highlight the required firm and then click
Edit to open the “Firm Detail” window.
3. In the Handling For Payments field, enter the amount to charge the client every time you record a Client Payment transaction.
4. In the
Handling For Receipts field, enter the amount to charge the client each time you record a Client Receipt transaction.
5. Click Save and then Close.
© HandiSoft Software Pty Ltd
45
