Overview

Promo funds (promotion levies collected from properties) must be transferred from main properties to the relevant promo properties before completing the final payment run for the period.

This ensures that all promotion funds collected are accurately allocated and available in the correct promo accounts for reporting and spending.

Part 1 – Preparation Before Payment Run

Step 1: Complete All Receipting

Before starting the process, ensure all receipts for the current period have been processed.

Explanation:
This ensures the promo levy balances are complete and accurate before calculating the amounts to transfer.

Step 2: Run the Cashbook Report

Generate a Cashbook Report using the following parameters:

• Properties: All properties

• Account Code: 0402 – Promo

• Period: Current period

Explanation:
This report identifies the total promo levies collected for each property, which determines the amount that must be transferred to the promo property accounts.

Step 3: Review Promo Balances

Review the report and confirm the promo balance for each property.

Explanation:
This step ensures:

• No discrepancies exist

• All collected promo funds will be transferred correctly.

Part 2 – Transfer Promo Funds Out of Main Properties

Step 4: Raise an Accounts Payable (AP) Invoice

Create an AP invoice to transfer promo funds from each main property.

Invoice Details

Set the invoice Process Status = Complete

Explanation:
The AP invoice records the transfer of funds out of the main property trust account into the promo property account.

Step 5: Repeat for Each Property

Create an AP invoice for every property that has collected promo funds.

Explanation:
Each property must be processed separately to ensure correct accounting and reporting.

Step 6: Submit Payment Run

Include all Promo AP invoices in the payment run.

• Submit the payment run.

• TA (Trust Account) must approve the payment run.

Explanation:
This step formally processes the transfer of funds out of the main properties.

Part 3 – Receive Promo Funds in Promo Properties

Once funds have been transferred out, they must be recorded as incoming funds in the promo properties.

Step 7: Raise an Accounts Receivable (AR) Invoice

Create an AR invoice for each promo property to receive the transferred funds.

Invoice Details

Explanation:
This invoice records the incoming promo funds in the promo property.

Part 4 – Receipt the Funds

Step 8: Receipt EFT Payment

Receipt the transferred funds against the AR invoice.

Receipt Details

Explanation:
This step finalises the transfer and ensures the promo property bank balance reflects the received funds.

Step 9: Repeat for Each Property

Repeat the AR invoice and receipt process for each promo property.

Alternative Scenario – Vacant Outgoings (ML)

Situation

The client invoices owners for outgoings on vacant properties via standing charges.

Owners request these charges be paid from rental income received.

Process

Step 1: Raise an AP Invoice in the Rental Property

Create an AP invoice to transfer the funds.

Setup Requirement

Create a dummy company/creditor to use for internal transfers.

Explanation:
This allows internal trust movements without affecting external creditor records.

Step 2: Add Reference Information

In the description field, include:

• Lease code where the funds will be receipted

• VO (Vacant Outgoings) period

Example description:

VO Transfer – Lease ABC123 – Jan 2026

Explanation:
This helps identify the transfer later during reconciliation.

Step 3: Process the Payment Run

Include the invoice in the payment run.

Important notes:

• No ABA file upload required

• No cheque number required

Explanation:
This is an internal transfer, not an external payment.

Step 4: Receipt the Funds in the VO Property

Receipt the transferred amount in the Vacant Outgoings property against the existing standing charge invoice.

Important Control Check

Ensure:

• Payment date = Receipt date

Explanation:
Matching dates ensure the bank reconciliation balances correctly and avoids timing differences in the trust account.

✅ Process Outcome

• Promo levies are transferred accurately.

• Trust accounts remain balanced.

• Promo properties receive the correct funding.

• Internal transfers remain traceable for reconciliation and audit.