Sales > Trust (optional)

You can use the Trust module in OSL Office to Reconcile your Sales Trust account.

TABLE OF CONTENTS

As you enter your sale Deposits and Withdrawals you can reconcile your trust account with the transactions in the Sales module Trust system.


Reconciliation is determined by the difference between your Statement Ending Balance for a certain period, and your OSL Trust Balance.


What does this mean?

  • The Statement Balance is what your bank statement says is your balance as of a particular date.
  • The OSL Balance is the total amount of transactions you have reviewed and verified in OSL. Tip: Learn more on How to verify a transaction.
  • The Difference is the amount of your bank statement balance minus your OSL verified balance.

Why would this happen? There are a few reasons:

  • Outstanding transactions that have not cleared the bank yet. These will appear in OSL, but might not be on your bank statement yet.
  • Duplicate transactions, such as an invoice payment that was manually added and an imported income transaction.
  • Missing transactions

To be able to reconcile your Trust account with your bank account the out of balance amount must be $0.00.*


Trust Sales tab

Sales > Trust > Sales tab

The Sales tab shows all Sales currently in your Trust account


This means all Sales with a balance greater than $0.00

Click on the Sale number to open the Sale and view the transactions for the Sale. 

(or click on the Listing ID and you can view the Listing details.)

Trust Reconciliation tab

This is where you reconcile your Trust account.

  • Trust Ledger tab – Trail Balance
  • Trust Ledger tab – Reconcile your Trust account

Step 1 Closing Date and Balance

Enter the Closing Date of your Bank Account 

Enter The Closing balance of your bank account

Step 2 Select transactions

Select the transaction(s) to reconcile. These transactions have been created as to Receipt the deposit for each sale.

Select the transaction(s) to reconcile by Clicking on the Reconciliation checkbox.

Each transaction to be reconciled will be indicated with a tick in the Reconcile column.

Great job! Your selected transactions balance with your trust account.


Step 3 Reconcile Trust Account  

When your account is in balance you will be able to select the Reconcile Trust Account and can go ahead and Reconcile your account.

You can Print the Trial balance Report  or select the Reconcile Trust Account 

Now click on the Reconcile button and select the Reconcile button again.


Click Yes and your Trust transactions will be reconciled and Reconciliation reports printed


Your Trust reconciliation report will be saved to the Trust > Docs tab


Any un-reconciled transactions will continue to appear until reconciled.

It is normal that you may have some unrepresented payments and or receipts at any given date.

Trust Transactions tab

Use the Trust transactions tab to view all transaction in a date range 

Trust Docs tab


Sales > Trust – Docs tab


Trail Balance and Trust Reconciliation and other Trust reports are saved to Trust > Docs tab


Click on the report to open or save locally (onto your computer) or send by email or re print.

Trust Reports

Select your report and then select the Email button to email your report.


Trust journal transaction

If an incorrect transaction has been made on your trust account use the Trust Jnl to create the transaction


This is very unlikely to happen, but still some transactions can accidently be added to your trust account. 

Trust ON/OFF 

You can turn ON/OFF the Trust Rec option in Settings > Company > Sales tab

Then select the trust tab