The Trust Account Setup function enables accountants and solicitors to establish compliant trust account structures within Exacc for managing client money in accordance with Australian statutory requirements. This essential configuration ensures your organisation can properly segregate, track and report on trust funds held on behalf of clients or third parties.
Setting up a trust account involves configuring banking details, establishing chart of accounts for trust transactions, defining user permissions and implementing compliance controls. Exacc provides comprehensive tools to manage controlled money accounts, statutory trust accounts and general trust accounts with full audit trail functionality.
Proper trust account configuration is critical for regulatory compliance, client protection and professional liability management. The system supports multi-level approval workflows, automatic reconciliation scheduling and detailed reporting to meet statutory obligations.
Ready to configure your trust account infrastructure? Follow our comprehensive guide below to establish secure, compliant trust account management within Exacc.
Configure your trust account infrastructure to manage client money in compliance with Australian regulatory requirements
Your trust account infrastructure is now configured - Exacc is ready to manage client trust money in full compliance with Australian statutory requirements.