Creating a New Trust Bank Account

 

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Creating a New Trust Bank Account

 

 

1. Create new Debit and Credit GL Accounts

 Choose the GL module > Click New > Chart of Account


 Enter an Asset GL Number (example: "1117")
 Enter a Description (example: "CIBC - Trust")


Click Accept

Click New again > Chart of Account

 Enter a Liability GL Number (example: "2117")

Enter a Description (example: "CIBC - Trust Liability")

Click Accept 

 

 

 

 

  2. Create a new Bank

 Choose the Bank module > Click New
 A New Account card will appear > Enter the Bank Name > Press tab

 A "Create New Bank..." dialog box will appear > Click OK
 


 Enter the Bank Name, Branch and Address Info
 Click Accept

 

 

 

 

 

 3. Create a new Account

 The Bank Name is automatically inserted > Press tab
 Enter the Account Number
 Set the Type to Trust Account
 Enter the new Asset GL account in the GL Debit field
 Enter the new Liability GL account in the GL Credit field
 Set the next Check Number and turn "Check Printing On" if applicable
 Click Accept

 

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