Transaction Accounting Clause Samples

Transaction Accounting. Custodian shall have no duty or obligation to provide Principal or Authorized Agent with a separate accounting for payments or receipts or to allocate such receipts between principal and income.

Transaction Accounting. Upon the consummation and completion of each transaction deal listed on EXHIBIT A, Purchaser shall cause to be delivered to Olympic a full accounting of such transaction.

Transaction Accounting. 3.32.1 The Contractor shall reconcile all transactions updated to the database. A daily report shall be required which balances the number of transactions in a given day, citations updated, parking citation payments, corrections, administrative hearings and dispositions, updated name and address information, suspended citations, returned mail, and DMV non-renewal processing. 3.32.2 New citations added to the database shall be balanced and reconciled through all stages of processing, from initial receipt from the City, to batching for data entry, to copying, and to actual data entry and update to the Contractor's parking citation database. Processing of citations issued by handheld computers shall require retrieving downloaded data from the Department. 3.32.3 Daily transaction reports shall be used to reconcile the correspondence processed by the Contractor's staff, especially citation suspensions. The Contractor shall be accountable for all actions taken by its staff. 3.32.4 A report listing citations scheduled for a hearing shall be reviewed and reconciled with actual case folders prepared for upcoming hearings. This report along with the case folders shall be delivered to the Department within ten days of the scheduled hearing.

Transaction Accounting. The `Distribution and Deduction' functionality' will include the accounting entries in the closing/escrow transaction. This includes: - Closing Commission - Gross Commission on the listing and selling side - Other Income & Bonus commissions - Referral fees and other Off-the-top deductions - Book of Business fees - Remaining Gross Commission - Remaining-in-house Commission - Gross Associate Commission - Associate deductions - Associate other income & bonus - Associate credits - Company Dollar GENERAL BUSINESS JOURNAL The system is designed to use the General business journal (GBJ) as the staging area for accounting entries to be exported to the Affiliate's primary accounting program. It will include a `General Ledger' functionality to analyze the GBJ entries and provide reports based on specific date range and criteria: Monthly totals, Journal entries by account, Check register and Cash flow. VENDOR INVOICES/ASSOCIATE BILLING/ASSOCIATE INVOICING This vendor/payables features includes the ability add, edit and delete invoices received from outside vendors, journalize the payment of these invoices and ▇▇▇▇ the Sales Associates for the portions of the invoices they owe. Vendor invoices can be sorted by; name, paid or unpaid. A history is kept of business with each vendor in the contact record. The system allows single invoices to be conveniently `spread' across multiple Associates greatly easing data entry. Tag lists, groups of Associates names, can be saved and used for billing Associates. Each Associate's account is simultaneously posted the correct debit amount. Associate/Employee credits, monies received, can be applied to a specific debit account item in the Associate's account record. In addition, the employee credit can be applied to the Affiliate's accounting program as a credit to an expense account. TRUST ACCOUNTING The system will track and manage escrow/trust accounts and can provide notification of aged accounts and interest details. The Trust account journal is primarily used for audit purposes. The Trust/Escrow displays: Summary of Closings in Trust, Trust Account Journal, Trust Account Ledger. The Trust Account Journal and Summary of Closings in Trust can be viewed by a user selected "as of date" and printed in a statement format to include the total amount of funds being held in trust.