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Maintaining Creditor Trust a/cs

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System > Bond and Trust Accounts > Trust a/c

Mandatory Prerequisites

Prior to creating a Trust Creditor Account, refer to the following Topics:

Screenshot and Field Descriptions: Trust a/c Tab

 

Trust a/c: this is the primary identifier for the Trust Creditor a/c.

 

Control a/c: this is the Debtors or Creditors Control Chart of Account.

In the case of a Trust Creditor a/c this must be a Creditors Control.

 

Group: this determines the Group that the record belongs to. Groupings are useful in searches and reports.

 

Name: this is the friendly name given to the Account.

 

Address / Post Code: this is the address for the Account. This address will be used for billing unless an alternate Postal Address / Post Code is entered on the Parent/Postal tab.

 

ABN: this is the Australian Business Number for the Account.

 

Phone #: this is the phone number for the Account.

 

A/H Phone #: this is the after hours phone number for the Account.

 

Fax #: this is the fax number for the Account.

 

Mobile #: this is the mobile phone number for the Account.

 

E-Mail: this is the e-mail address for the Account.

 

Terms / Due Date: these fields combined determine the calculation for the Due Date field on manually entered transactions. In the Terms field enter the number of days after the selected Due Date option the Due Date should be. The options for Due Date are:

 

If 14 is entered into Terms and Current Date is selected in the Due Date field the Due Date on a transaction entered on the 10th March will be automatically calculated as 24th March.

Bank Name: this is the name of the Bank.

 

Branch: this is the name of the Branch.

 

Account: this is the name of the Account.

 

BSB: this is the BSB number of the bank account.

 

Account #: this is the number of the bank account.

 

Banking Type: this is the preferred banking type for the Account. Examples are Cheque, Direct Deposit, Cash, etc.

 

Cash Book: this is the default Bank Account that will be used when a cash transaction is entered for this Account.

COA: this is the default chart of account that will be used when a transaction is entered for this Account.

 

Property: this is a drop down list for the selection of the default Property / Lease entity that will be used when a transaction is entered for this Account. Select a value from the drop down list and the appropriate field will be displayed for entry of the Property / Lease ID.

Screenshot and Field Descriptions: Parent / Postal Tab

 

Parent: this is the ID of the Parent Account.

 

Address / Post Code: this is an alternative Postal Address if different from the primary address on the main Tab.

 

Parent + Descendants table: this table will contain hierarchical rows representing the selected Account plus any Descendants , Sub Descendants, etc.

Screenshot and Field Descriptions: Transactions Tab

 

Selection:  

Outstanding: select to show all transaction entries with an outstanding balance.

 

All: select to show all transaction entries.

 

Active Repeats: select to show all Repeat Transactions where today's system date is less than the Transaction's Until Date.

Transaction Entries table: this displays rows of selected transaction entry details.

Double clicking a row will navigate to different areas of the system based on the column the cursor is on:

 

Selecting and highlighting any number of rows will display their totals in the fields below the table.

 

Selected Balance: this shows the total outstanding balance of all selected transactions.

 

Selected Original: this shows the total original value of all selected transactions.

 

Total Balance: this shows the total outstanding balance of all transactions.

 

Total Original: this shows the total original value of all transactions.

Shared or Site Optional Tabs

Other than Tabs described specifically in this Topic, the following may also be available (depending on Site Settings):

How Do I : Search For and Maintain Entities

These General Rules are described in the Fundamentals Manual: How Do I : Search For and Maintain Entities

How Do I : Add a new Trust Account

  1. At the Trust a/c field, enter a new Trust a/c ID.
  2. Select the required Control a/c from the drop down list.
  3. At the Group field, locate the Account Group you would like to assign this Account to.
  4. At the Name field, enter the name of the Account.
  5. At the Address / Post Code fields, enter the address.
  6. At the ABN field, enter the ABN number.
  7. At the Phone # field, enter the phone number.
  8. At the A/H Phone # field, enter the after hours phone number.
  9. At the Fax # field, enter the fax number.
  10. At the Mobile # field, enter the mobile number.
  11. At the E-Mail field, enter the E-Mail address.
  12. At the Terms field, if required, enter the number of days.
  13. At the Due Date field, select the appropriate option from the drop down list
  14. At the Banks Details section enter the banking details for the Account.
  15. At the Default: COA field, if required, locate the default COA to be used for transactions.
  16. At the Default: Property field, if required, locate the default Property / Lease entity to be used for transactions.
  17. Switch to the References tab, and if there are fields available, enter any additional information required.
  18. Switch to the Parent/Postal tab:
  19. Switch to the Comments tab, and enter any additional comments relating to the Account.
  20. Click the Application tool-bar push button: Add.
  21. Confirm that you wish to add the new record.

How Do I : Modify an existing Trust Account

  1. At the Trust a/c field, locate the Trust a/c.
  2. At the Group field, locate the Account Group you would like to assign this Account to.
  3. At the Name field, enter the name of the Account
  4. At the Address / Post Code fields, enter the address.
  5. At the ABN field, enter the ABN number.
  6. At the Phone # field, enter the phone number.
  7. At the A/H Phone # field, enter the after hours phone number.
  8. At the Fax # field, enter the fax number.
  9. At the Mobile # field, enter the mobile number.
  10. At the E-Mail field, enter the E-Mail address.
  11. At the Terms field, if required, enter the number of days.
  12. At the Due Date field, select the appropriate option from the drop down list
  13. At the Banks Details section, enter the banking details for the Account.
  14. At the Default: COA field, if required, locate the default COA to be used for transactions.
  15. At the Default: Property field, if required, locate the default Property / Lease entity to be used for transactions.
  16. Switch to the References tab, and if there are fields available, enter any additional information required.
  17. Switch to the Parent/Postal tab:
  18. Switch to the Comments tab, and enter any additional comments relating to the Account.
  19. Click the Application tool-bar push button: Change.
  20. Confirm that you wish to change the record.

How Do I : Delete an existing Trust Account

  1. At the Trust a/c field, locate the Trust a/c.
  2. Click the Application tool-bar push button: Delete.
  3. Confirm that you wish to delete the record.

An Account record can only be deleted if there are no other records associated with it.  An example of an associated record might be a Transaction entry.

Related Topics

Trust Creditors Accounts are associated with the following topics: