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Job in Trust Account allows managing and tracking deposits and payments to a Clients and for a certain purpose. Most common purpose is to receive Fee from Refund, but this application will manage all your Trust Account transactions, such as receiving money from Client to pay their tax obligations, holding money for your future invoices etc.

Managing Trust Monies

Jobs are designed to track Fee from Refund jobs, e.g. when entering new details, you can provide expected refund, fees to be deducted and any advances rendered to Client. Upon receiving the deposit, the application will reserve monies for your fees and advances, and the rest will be available for Client. Application will assist you in making these payments in your online banking system, and record all transactions against the job.

Tracking and auditing

Each Fee from Refund or any other designated deposit should have its own job. This would allow you to track any outstanding payments, fees and control the flow of money. You can easily see details of each deposit and withdrawal from the Trust Account, including the history of your assignment involving Trust Money, simply by reviewing Job history. You will also see parts of transactions that form an aggregated transfer.

Each deposit and withdrawal in the account must be assigned to a Job.

Trust Account Job - from start to finish

Job will only close if all monies will be paid out from it. You can transfer monies between jobs, but please ensure compliance. As this transfer will not appear on actual bank statement of your Trust Account, there is special reporting of these transactions.

When opening a new job, Client’s banking details are copied into this job for verification purposes.

Single job can be maintained through page TA02