Creating, Updating and Managing Deposits

Creating, Updating and Managing Deposits

There are two ways to enter deposits in your RealtiBuilderSales files:
  1. Mass Import: Use this feature with a spreadsheet to import deposits for multiple units in your project at once.
  2. Manual Entry: Go to the Deposit & Release screen for each unit, file by file, and enter deposits manually. The arrow icons inside a file allows for switching between units.
To view deposits that have been imported, or to add deposits manually, go to the Deposit & Release screen in each file. You can add additional lines for deposits using +5 Deposits or +Deposit.

Example of a unit’s Deposit & Release screen in a file.

The Deposits table should be completed for each deposit as applicable. Below is an outline of the fields found in this section.
  1. Payment Method: Select one of the seven payment methods - cheque, direct deposit, certified cheque, bank draft, wire, e-transfer, or other (note: The payment method 'Wire' was previously an option in the Status menu).
The Payment Method options selected work in conjunction with Deposited dates to run the Auto Clear feature. If auto clearing is enabled for the project, and certain conditions are met, deposit Status will automatically be updated from 'Pending' to 'Clear'.
  1. Interim: Formerly called 'DOC', check this box when the deposit is due on the interim closing date. The Due and Deposited dates will automatically be set to the occupancy date and the Status will reset to '-Select-'. The Deposited date can be changed, and will display in red when edited to indicate the original date has been manually overwritten.
  2. Deposited: Enter the date of each deposit. To enter these dates for multiple deposits in multiple files (or projects) simultaneously, use Bulk Deposit Update or Mass Import under the Project menu.
  3. Status: Sets to ‘Pending’ for each deposit added and should not be manually changed if Auto Clear is enabled for the project. If you do select a different option, the system will not be able to automatically update to 'Clear'.
    1. NSF Options:
      1. If a deposit is returned due to insufficient funds, select 'NSF' and determine if any adjustments need to be made to cover any shortfall.
      2. If a previously NSF deposit clears, select 'C-NSF' (Clear NSF) for that deposit or leave the deposit as NSF and add a new deposit which will get updated to 'Clear' by the Auto Clear feature. Either method will result in the cleared funds being added to the total funds available for release.
  4. Form 4: This box will display a checkmark after the Run Form 4 feature for the corresponding deposit. Run Form 4 is accessed in the Project menu.
  5. Interest: This box will display a checkmark after the deposit is 'Clear'. The interest amount calculates based on certain conditions and the Variable Rate Table setup through the Admin menu.

Updating Deposits

There are three ways to update deposits in your files that can be used individually or in combination:
  1. Bulk Deposit Update: Use this feature in the Project menu to update information such as Deposited date for many deposits at once.
  2. Auto Clear: Enable this feature for your project(s) for deposits to automatically update from 'Pending' to 'Clear' on a daily basis, based on certain criteria.
  3. Manual Entry: Enter the file for each unit and update deposits manually.

Deposit Release Management with Existing Projects

For the deposit release management to be compatible with an existing project, information from your existing spreadsheet is required to be uploaded into RealtiBuilderSales. The columns Suite, Release Date, and the amounts for Tarion, ECDI, Upgrades and Total released amounts are required. Download our sample to see how best to format your spreadsheet for faster uploading.
Example of how to format the spreadsheet for uploading to use the deposit release management feature.

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