Add a Controlled Money Withdrawal transaction

A Controlled Money withdrawal is entered similarly to a Trust withdrawal.

The following information has been entered in the example above for a Controlled Money withdrawal.

Transaction Date: Will auto-fill
Amount: Enter the amount of money you wish to withdraw. In the example $12,460 has been entered
Payment Type: Options are Cheque, EFT or Bank which is used for interest, fees and charges etc.
Matter: Click on the matter icon and link to an existing matter. In the example above, the Georgio matter has been selected
Payor: Who the money is being payed to
In the General Tab, complete the Reason: This free form field allows you to type in FREEFORM the reason as to why this money is being withdrawn from the Controlled money account. In the example above, it is funds being issued to the Office of state revenue for Stamp Duty for a property transaction
Authorised by: (this field allows you to enter how authorised this transaction – usually the responsible solicitor)
Prepared by: (this field will auto-fill, but will only need to be changed if not correct)

Next depending on whether you selected the payment type of Cheque or EFT, you will need to click on the Payment Type Tab and enter in the appropriate details. To see how to do this, refer to this article.

Once you have entered all the details into the trust withdrawal window, click Save.

Any entries incorrectly entered into SILQ cannot be undone; they must be reversed. This is to ensure a correct audit trail for the trust account. By clicking Yes to the message, you will proceed to the print screen page. All transactions then need to be printed in hard copy.

You will be presented Controlled Money Withdrawal Request as a PDF saved in Matter Folder. You can choose to print this if it’s required.