Trust Chart Of Accounts - Search

Owned by Karen McDonald
Last updated: Aug 22, 2024 by Queenie Flores
2 min read

The Chart of Accounts is the location of the Bank Accounts held for the Trust. It shows a summary of the Accounts you currently have and the balances of each of these accounts.


There are also system accounts that are automatically generated when you perform specific actions e.g. Transit Funds.

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From this page, you can create New Trust Accounts as they are opened.

  1.  To open a new Trust Account, select the blue New Account button from the Chart of Accounts page.

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  2. Fill out the Code, Account Name and Account Type for the account.

     

  3. You will need to fill out an opening balance for the account if it has money it in or if it is new, leave it as $0.00.

  4. Enter the date the Account was opened and an amount that you would like to receive the Low Balance Warning at. If you are unsure, leave it at $0.00 and you can change it later. Instructions for this are detailed below.

     

  5. Ensure that the Reference Number Sequences are appropriate for your business. The cheque numbers will need to line up exactly with the cheque book you have for that account. If you do not have a cheque book for that account, untick the Can Write Cheques option.

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