Fiduciary deposit account (FDA) in real estate business

[jakov]

@telecastg @item @Maximus @rabii @espcrm @murugappan @peterberlin @lazovic I like to ask for your suggestions how to apply fiduciary deposit account (FDA) in real estate business in EspoCRM to cover Property sales chain. I get already some Ideas out of your posts .


1. How to construct dynamic workflow Form to cover whole sales Chain (when previous step=status complete or paid) go next step;
2..How to implement fiduciary deposit account in a way:
-who paid what, when in what amount (there can be relationship one-one, one-many or many-one)
-purchasing orders for subcontractors (attorney, Photo,Video,..),
-sales order converting to invoicing (invoices can be fully/partiali/not at all funded from FDA - when Invoices are fully paid from customer or FDA go next step
-payment orders for XML payment generation (all kinds of invoices and finally return of final Balance amount to customer)
-real time status of this Property ID and Money Balance of FDA

I get the Idea of @telecastg with Work orders and System task, and idea how to calculate Balance, but in this case Purchasing & Sales & Payment orders must be linked together -to summarise- when Balance =0 step forward..


Thank You

[item]

Hello,
my english is very poor.. but can you put a print-screen with filled sample value ?

maybe this can be util for you :

credit - debit = balance

but you talk if understand :

provider/consumer .. this change all.. because
you are for provider : debit
for consumer : credit

so you need to distinct ..

Good luck

[jakov]

Itim thank for your suggestions. I will try to make this project more clear

Ths

[esforim]

Hi there, I save this thread in a new tab but never got around to reading till now. Sorry I couldn't help but I recently made this post here.

Looking at the date, I'm sure you must have make great strive in your effort! I never heard of the words: fiduciary till today, doing a quick dictionary read I sorta understand it. Unfortunately in my country we don't have this concept so I can't think of any real life example of it use.

I recently answer a question about Real Estate system here, it may not be useful at your for you but who know, it might? Considering the question you post is quite advance question and it seem to probably align with the user "flowchart" I mention.

https://forum.espocrm.com/forum/general/54706-learning-espocrm-and-design?p=84549#post84549

[jakov]

Thank you for your help. Fiduciarzyaccount ia a regular back account that is suitable onlz for cecurity Deposit transactions. It is probably the same in your country. Custumer pay 10% of contract value in advance like insuaranse... And out of this 10% amount commission, xz cost are paid and residual balance is send to Seller. It is imortant for Agent to know what is Balance of this account. It is always nice to discuse some solutions that can be implemented later

Ths

[esforim]

That make sense. We call it "Trust Account", basically you holding someone else money (Deposit / Insurance money as you would call it).

With our Trust Account it is a bit strict, but it can be replicate in EspoCRM I think, but I don't want to touch this since the requirement is too high

[jakov]

Thank you for clerify this topic. Perhaps i rename this topic trade to Trust Account (TA). And Yes this TA is one of base stones of this Business. there are two subtopic regarding TA.
1. where to entry data who is paying what and when - is related to Entity Contract
2. Payment collection made base on Contract agreement - i will create Entity Cash in wich I will track also pazment status of all outgoing Invoices

I belive there is perhaps better/easier way to cover this topi