Statutory Deposits and Receipts
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Entering a Statutory Deposit

To add a Statutory Deposit into SILQ do the following:

First navigate to the Trust Money window, then click on Statutory Deposit (to Law Society) in the Extras section of the Top Toolbar. This will open up the Add Statutory Withdrawal window. In this window you are essentially entering a transfer of funds to the Law Society by completing this transaction.

The Add Statutory Withdrawal window has a number of fields that need to be filled in. The following information has been entered in the example above:

  • Transaction Date: Will auto-fill

  • Amount: Enter the amount of money you wish to transfer to the Law Society, $2,000 has been added in the example above

  • Trust Account: This will auto-fill from your Trust account

  • Payment Type: Options are Cheque or EFT

  • Payee: This field will need to be completed; in the example above The Law Society of NSW has been added. 

Add Statutory Withdrawal – Details Tab

  • Reason: Enter the reason in the free form field. Statutory Deposit has been entered in the example above.
  • Authorised By: Complete as required

  • Prepared By: Will auto-fill

There are two different payment types that SILQ will allow you to record.

  • Cheque
  • EFT

Depending on which payment type you choose, the payment details tab will dynamically generate the appropriate fields for you to fill in for you given payment type you choose in the trust withdrawal window.

Entering Cheque and EFT details for an Add Statutory Withdrawal

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.