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settlement financials
settlement financials
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Chris West
Owner/Licensed Conveyancer

I'd like to add to Selby's answer:- If this is a settlement adjustment of "Strata Insurance" you may not want to adjust on the full amount, only a half or third share. I suggest using the Lot Entitlement fraction which can be filled in at Property Details in your matter and if you use the "Strata Levies" to adjust and rename it to "Strata Insurance" you can then select "Apportion by Lot Entitlement" in the adjustment details.

In your Settlement Financials window, click the Add Adjustment Item button. A new window will pop up. Click on the drop down box next to Type and select Time Related. In the box next to Title, you may simply enter "Insurance" or any other relevant description. Select the Period and enter the Total Amount of the insurance and complete the rest of the information where relevant. Once completed, click Save and the adjustment for your insurance will appear in Settlement Financials. 

Launch your Settlement Financials window and click on an adjustment item. A new Settlement Adjustment Item window will pop up.  You will find the wording Plus GST and a check box next to it. Tick the check box and GST will be added to the adjustment item. Repeat the same if you need GST to be added to other adjustment items.