Trust Accounting - Create a New Trust Bank Account

 

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Trust Accounting - Create a New Trust Bank Account

 

 

1. Create new Debit and Credit GL Accounts

 Choose the GL module > Chart tab > Click the New button

Screen_shot_2011-01-26_at_3.46.51_PM.png
 

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

Screen_shot_2011-01-26_at_3.49.15_PM.png
Click Accept

Click Chart tab > New button again > Chart of Account

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

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

Screen_shot_2011-01-26_at_3.51.16_PM.png

Click Accept 

 

 

2. Create a new Bank

Choose the Bank module > Account tab > Click the New button.
Enter the bank name and hit the tab key.
A New Bank window will appear. Click OK to create new bank.
Screen_shot_2011-01-26_at_3.59.01_PM.png
Enter the bank information and click OK.
 

 

3. Create a New Account

Click the Account tab > Click the New button
Enter the bank name and hit the tab key.
The Branch and Branch No are automatically filled in.
Screen_shot_2011-01-26_at_4.08.18_PM.png
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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