- Help Centre
- Trust Accounting
- Statutory Deposits and Receipts
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Setting up SILQ
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Getting Started with SILQ
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Financial Management
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Advanced Accounting and Reporting
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Trust Accounting
- Trust Accounting
- Controlled Money Receipts
- Statutory Deposits and Receipts
- Entering and Transferring Unknown Deposits
- Trust Accounting Chart of Accounts
- Trust Reporting
- Deposit Adjustments and Withdrawals
- Trust Account Bank Reconciliations
- Trust Reconciliation Example Scenarios
- Trust Transaction Dating and Trust Money Recording
- Trust problem trouble shooting
- Protected Trust
- Automatic Bank Feeds
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Legal Details
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Document register, Document templates and Court Forms
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Using InfoTrack in SILQ
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Using SILQ Outlook Add-In
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SILQ & Word Integration
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Exporting Data
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Invoicing
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Using SILQ
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Reports
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Emails in SILQ
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Estates
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Time Entries
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MYOB
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Xero
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Dashboards
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Budgets
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Permissions
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Contacts
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SILQ Security
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Early Access
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Moving to SILQ
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What's New
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SILQ Desktop
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Subscription & Billing
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Lexon Integration
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:
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Transaction Date: Will auto-fill
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Amount: Enter the amount of money you wish to transfer to the Law Society, $2,000 has been added in the example above
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Trust Account: This will auto-fill from your Trust account
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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.
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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.