The Trust Account Settings function in Exacc enables accountants and solicitors to configure comprehensive rules, approval workflows, reporting requirements and compliance parameters for their trust money management system. This critical configuration ensures your trust accounting operates in accordance with Australian statutory requirements while implementing organisational controls and security measures appropriate to your practice.
Configuring trust account settings involves establishing approval workflows for trust payments, setting reconciliation frequencies and tolerances, defining user permissions and access controls, and configuring automated compliance notifications. These settings provide the foundational controls that govern how trust money is received, managed, disbursed and reported within your organisation.
The trust settings configuration supports multi-level approval hierarchies, automated reconciliation schedules, statutory reporting parameters and comprehensive audit logging of all trust account activities. Properly configured settings ensure compliance with professional liability requirements while providing efficient workflows for routine trust money management.
Ready to configure your trust account controls and compliance parameters? Follow our comprehensive guide below to set up trust account settings with proper approval workflows and regulatory compliance.
Set up trust account rules, approval workflows, reporting requirements and compliance parameters for regulatory compliance
Your trust account settings are now configured - compliance controls and approval workflows are active for secure trust money management.