The Trust Transactions function in Exacc enables accountants and solicitors to record, track and manage all movements of client trust money with comprehensive documentation and approval workflows. This essential capability ensures every trust receipt, payment, transfer and adjustment is properly recorded with full audit trail compliance and statutory reporting accuracy.
Managing trust transactions involves recording money received into trust accounts, processing disbursements to clients or third parties, transferring funds between client matters or trust accounts, and allocating interest or fees where applicable. Each transaction type has specific validation rules and documentation requirements designed to maintain the integrity of client trust ledgers and ensure compliance with Australian trust money regulations.
The trust transaction management system provides multi-level approval workflows for enhanced control, automatic validation to prevent overdrawing client balances, and comprehensive audit logging of all transaction activities. All transactions update client trust ledgers immediately while maintaining overall trust bank account reconciliation and generating statutory compliance reports.
Ready to record and manage trust money movements? Follow our detailed guide below to process trust transactions with proper documentation and approval workflows for full regulatory compliance.
Record trust receipts, payments and transfers with proper documentation and approval workflows for compliance
Your trust transaction has been recorded successfully - client ledgers are updated with complete audit trail and statutory compliance documentation.