The Destination tab is used to indicate the financial accounts receiving funds for the settlement of the property transaction.
Adding Destination Account details
The outgoing parties for the transaction are required to complete the destination fund details. A line item is added for each different destination account. Category types for each line item help identify the type of account and the amount coming from that account.
Account category types indicate the type of account being used to provide funds for the settlement of the property transaction. Category Types, depending on the Subscriber’s role, include:
Body Corporate Fees
Foreign Resident Capital Gains (IP role)
Homes for Homes Donation
Land Tax Clearance Certificate Liability Payment (VIC ONLY)
NSW Land Tax (NSW ONLY)
Linked Financial Settlement
Other (provides you with the ability to enter a description for the Financial Line Item)
Stewart Title (IP role)
Third Party beneficiaries
Vendor Funds (POT role)
Add Destination Financial Line Item
Navigate to the Settlement screen in your workspace.
Select the Destination/Adjustments and Payments tab.
Click Add Destination.
Select the appropriate destination account Category from the drop-down list (See categories above)
Select the Destination Account.
The Account Name defaults based on what has been completed by your PEXA Administrator.
BSB and Account number defaults for the selected Account.
Enter the Destination Amount in AUD.
Enter the Client’s name to identify the person(s) receiving the funds.
Enter a Transaction description to help identify this line item on your account statement.
Result: The Financial Destination line item is created and added to the Destination list screen.
Amend or Delete a Destination Financial Line Item
Navigate to the Settlement screen fin your workspace.
Select the Destination/Adjustments and Payments tab
Locate the Destination line item you wish to amend, select the Action Cog and select Edit or Remove
If you wish to Edit, correct the details and select Save
Note: Amending a Destination line item will unsign the Financial Settlement Statement (where it has previously been signed).