The Settlement Calculator in Clio Manage can be used to make property settlement adjustments for your conveyancing matters. When you upload the Contract of Sale and your certificates, Clio extracts the data, calculates each adjustment, and assembles a Settlement Summary that you can review and share with your client and the other party's lawyer.
Understand the Settlement Calculator
The Settlement Calculator is available via the Settlement Financials tab of a matter. It reads the Contract of Sale to anchor every calculation to the settlement date, then extracts the relevant figures from each certificate you upload and applies them to the Settlement Summary as prorated or fixed adjustments.
Adjustment types
- Prorated adjustments: Time-based calculations apportioned between vendor and buyer based on the settlement date. Used for council rates, water service charges, water usage, strata or owners corporation levies, land tax, and rent.
- Fixed adjustments: Lump-sum amounts that are not tied to a daily rate. Used for arrears, special levies, and similar one-off amounts.
Upload the Contract of Sale
When you upload the Contract of Sale, Clio extracts relevant information like the settlement date, purchase price, property details, and party names.
- Go to Matters and open a conveyancing matter (i.e., a matter where Conveyance (Sale) or Conveyance (Purchase) was selected for the practice area).
- Click the Settlement Financials subtab.
- Click Upload contract to begin.
- Select a file from your computer and click Upload.
Clio will display a settlement summary extracted from the contract. Extracted values are highlighted so you can easily review them and make any corrections as needed. With the contract uploaded you can also add adjustments.
Add adjustments
You can add adjustments by uploading files and allowing Clio to extract the relevant information or by adding the adjustment details manually.
- In the Settlement summary, click Add adjustment.
- Select Upload certificate.
- Select relevant certificates (e.g., Council Rates, Water Service Charge, Land Tax, etc.) from your computer to upload. The relevant information will be extracted.
- The adjustment is added as a new section inside the Settlement summary. Extracted values are highlighted so you can easily review them and make any corrections as needed.
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Review the extracted details to make corrections as needed or add missing information.
Tip: Click the certificate to open it in a preview panel on the right for an easy side-by-side comparison of the document and the extracted details.
- Click Save changes to update.
- In the Settlement Summary, click Add adjustment.
- Select Enter manually.
- Select the Adjustment type.
- Enter the adjustment details.
- Click Save.
The adjustment is added as a new section inside the Settlement summary.
View, edit, or delete adjustments
Every adjustment that Clio generates can be reviewed and edited before the Settlement summary is finalised. A side-by-side viewer lets you check the extracted values against the original certificate.
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In the Settlement Financials tab, click the expand arrow for the adjustment you want to view.
Tip: Click the certificate link to open it in a preview panel on the right for an easy side-by-side comparison of the document and the extracted details.
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In the Settlement Financials tab, click the expand arrow for the adjustment you want to view.
Tip: Click the certificate link to open it in a preview panel on the right for an easy side-by-side comparison of the document and the extracted details.
- Make changes to individual value as needed.
- Click Save changes.
- In the Settlement Financials tab, click the expand arrow for the adjustment you want to view.
- Click Delete, then click Delete again to confirm.
Set a separate adjustment date for early possession
If the buyer takes early possession of the property, financial responsibility shifts from the settlement date to the possession date. You can set a separate adjustment date so the calculations reflect this. The legal settlement date stays unchanged.
Download and share the Settlement summary
When the Settlement summary is ready, you can click Save to Matter > Save to Matter to save a copy of the document in Clio or click Save to Matter > Download to save a .pdf copy to your computer.
You can also share it with your client or opposing counsel via the Client Portal.
- Click Share > Through client portal.
- By default the client's name will be selected. You can select additional contacts.
- Add a message to the contact.
- Click Create client portal and share or Share.