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How can I create a record of a holdback in Prolegis?

What is the best way to deal with holdbacks in Prolegis?

  1. Any conditions that are required to be completed before closing, may or may not contain a holdback, should be added under Actions > Property > Conditions and Additional Terms. This will allow for the condition to become a task in the Progress Dashboard (your checklist) , and you will receive a task reminder on the due date indicated.
  2. Record the holdback amount in your Trust Ledger (Actions > Trust Ledger) as an adjustment as follows:
    1. Click +Adjustment
    2. Click the down arrow to open the adjustment
    3. Enter the Description, Amount and for Type select (“Payment”) 
    4. Click "Save"
  3. Record any disbursed funds as as adjustment
    1. For example, record the "Estimated Proceeds" actually disbursed to the client as an adjustment (Type "Payment")


  4. When you are ready to release the funds, you can either:
    1. remove the holdback adjustment from the Trust Ledger (click the “x” and then “Save”).  The Estimated Proceeds should be the amount of the holdback.

      OR

    2. rename the holdback.  The Estimated Proceeds should be zero.