Setting up a new Client/Trust Account involves a few preparation steps before creating the account itself. If you're adding a Client/Trust Account to an existing company, skip ahead to the Account Setup Procedure section below.
Self-guided demos:
Settings for Trust Accounts (approx. 40 mins)
Settings for Client Accounts (EMEA)
Step 1: Create a Company Contact
Navigate to Contacts > New Contact.
Set Contact Category to Company.
Fill in all required contact information including payment method.
Step 2: Set Up Tax Types and Chart of Accounts
Configure all necessary Tax Types for your operations.
Create your Chart of Accounts covering income and expense categories, or use the Import tool for bulk setup.
Step 3: Set Up Fees and Disbursement Profiles
Account Setup Procedure
Navigate to Settings > Chart of Accounts. Create a new code under Bank Account Type. Enter bank details and tick Enable Payments to this Account before saving.
Go to Settings, select your company, then navigate to Client/Trust Accounts.
Click New Client/Trust Account.
Select the bank account linked to the Chart of Account created in step 1.
Enter the legal full account name — this appears in financial reports.
For Australian users, enter the APCA ID for Direct Entry payments if applicable.
Select the Company Contact for the Property Management Agent created earlier.
Define Chart of Account codes for suspense and bond transactions.
For Australia and New Zealand users, choose the bank file export format.
Choose whether rent payments should automatically apply to the oldest unpaid period first.
Configure payment clearance times and Close of Period settings.
Click Save.
In Asia-Pacific, "Trust Account" is standard; European customers use "Client Account". Client/Trust Accounting does not apply to North American customers. For more information, see our Glossary of Regional Terminology.