We have made some necessary changes to your Sale and Purchase matter types for improved efficiency in your conveyancing matters.

Why?

We are continuing to work on a large project to change the functionality behind our forms to use our Word App entitled LEAP Document Manager (LDM).  This change is necessary to make our forms compatible with Word Online.

These changes are in preparation of future enhancements to our LDM versions of the Settlement Adjustment Sheets/Statement of Adjustments (SAS), with the NSW SAS LDM due for release firstly shortly.  Keep an eye on the Forms Blog for release notification.  These enhanced versions will contain a time-efficient two-way write back functionality, whereby Directions (cheques) created within the LDM will automate directly to your LEAP matter and vice versa.

The write back functionality can however only map to ONE location in your LEAP matter and that is the relevant Sale / Purchase Reconciliation table.  The Cheque Details table will therefore no longer default to any newly created matters.

Why write back to the Reconciliation table and NOT the Cheque details table?

• To allow for future enhancements such as the SAS’s being rewritten as LDMs
• Less duplication as Directions only need to be entered once regardless of who they are being requested from – previously you had to re-enter them in up to 3 different tabs (Cheques requested by Vendor, Cheques requested from Mortgagee, Cheques requested from Client) now you simply select from a dropdown list “Funds to be drawn by” and select the option Bank, Client, or Trust
• Unlike the Cheque Details layout, there is no limit in the Reconciliation table to the number of Directions that can be entered, essential for simultaneous settlements
• All Reconciliation table entries you make automate into forms and By Lawyers’ precedents, with the ability to distinguish items such as Costs & Disbursements, Stamp duty etc. This wasn’t previously possible in the Cheque Details table
• The Reconciliation table can be used as a full Statement rather than just an adjustment sheet for apportionable items between the parties, again with the ability to distinguish which Directions are Costs & Disbursements, Stamp duty etc
• Items such as Costs & Disbursements and Miscellaneous items in the Reconciliation table are customisable as to your preferred description/wording
• Standard entries can be set within Recurring Matter templates i.e. fixed price conveyancing fees and disbursements

What happens for existing matters where data is entered in Cheque Details table?

• A script has been written in 2x that will move any Directions that have been entered in the Cheque Details table to the relevant Reconciliation table
• The script will also test if the Settlement Details table is empty. If so, it will move the Time and Venue data completed in the Cheque Details table to the Settlement Details table
• The script will ensure you do not need to re-enter any data anywhere
• The script will then remove the empty Cheque Details table

What will you now see?

• Should there be instances where you have entered Directions in both the Cheque Details and Reconciliation table, Directions from the Cheque Details will be added to the Reconciliation table with an Alert to ask you to verify your entries
• When you first open the existing Sale and Purchase matter (that had Directions entered in the Cheque details), you will receive the following Alert:

Why do you need to verify your Directions in the Reconciliation table?

• The location of the 3 different tabs in Cheque details no longer exists (Cheques requested by Vendor, Cheques requested from Mortgagee, Cheques requested from Client)
• Instead you enter who the Directions are being requested from through the dropdown list “Funds to be drawn by”
• As the options in Cheque Details and Reconciliation table are not identical, we are unable to map to this dropdown list section of the Reconciliation table from data that was previously completed differently
• Rather you must open the Direction item that has been moved and reselect the relevant option, Bank, Client or Trust.

In addition, the enhanced SAS LDM versions will contain a Direction summary including (amongst other things), the “Funds to be drawn by” list:

Important Note:

Any of your existing Recurring Matter templates using the Cheque Details table will need to be updated to the relevant Sale / Purchase Reconciliation table