How to Use the SIT Transfer Wizard

Created by Jason Zeh, Modified on Tue, 17 Jan 2023 at 11:40 AM by Jason Zeh

The SIT transfer function can be done at any time, though it is usually done once per year in January. We recommend going through the whole process in TEST first to make sure everything looks correct. To ensure accuracy, the TEST SIT database should be refreshed with PRODUCTION data prior to initiating the trial run. Please contact Spindlemedia Tax Support to request a refresh of your TEST SIT database.


Before you begin, ensure that all SIT batches are closed and no one is operating in SIT.

Next, open a VIT batch in the tax system. 


Then, from the SIT dashboard, click More on the top menu and select SIT Transfer.



Step 1 - Dealers

  • Check that the Year and Receipt date are correct. This can be changed in the Settings panel in the upper right under your username.
  • Run the YTD Paid List report and verify the totals match in your bank records before continuing.
  • Run the Transferrable Escrow Listing report for details on non-transferrable escrow (as applicable). 
  • Once you've verified the transfer amount and balanced to your bank account, Click NEXT to continue to step 2.


Step 2 - Validate

  • Click VALIDATE to make sure there is an open VIT batch in the tax system.
  • If validation fails, check that you have an open VIT batch in the tax system and open one if you do not. Then come back and click VALIDATE again. 
  • Once you receive both checkmarks, click NEXT to continue to step 3.



Step 3 - Review

  • Review the details of the transfer to verify all the data one last time. If everything is correct, click NEXT to post the transfer to tax.


Step 4 - Post

  • Click the POST button to initiate the posting process. It may take a few minutes to process this step.
  • Once all of the posting steps are finished with green checkmarks, Click NEXT.


REVIEW

  • Review your transfer batch in SIT, making sure to check the totals from your reports.
  • Review your VIT batch in tax and match the total from the transfer batch.
  • Once everything is verified, you may close the batches.
  • As a final step, update the SIT year in settings.





























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