Adding a new trust account in Exacc enables you to establish separate trust structures for different clients, matters or regulatory requirements. This function allows accountants and solicitors to create properly segregated trust accounts that comply with Australian statutory obligations while maintaining clear separation of client funds.
Each trust account can be configured with specific banking details, chart of accounts, user permissions and compliance parameters. Whether you need a general trust account for pooled client funds, a controlled money account for specific high-value matters, or multiple statutory trust accounts for different practice areas, Exacc provides the flexibility to manage diverse trust account requirements.
The system supports unlimited trust accounts within your business file, each with independent reconciliation, reporting and audit trail functionality. This enables you to maintain proper segregation of duties, implement multi-level approval workflows and generate separate statutory reports for each trust account.
Need to add a new trust account to your Exacc system? Follow our detailed guide below to create and configure additional trust accounts with full compliance controls.
Create additional trust accounts to manage client money across different matters, clients or regulatory requirements
Your new trust account has been created successfully - you can now begin processing client trust transactions with full regulatory compliance.