New Features
> Retainers, Escrows and Trusts
Retainers, Escrows and Trusts
You can now create Retainer, Escrow and Trust accounts with the ability to write checks directly from these accounts. When creating a retainer, escrow or trust account, you can choose which bank account to link it to giving you the ability to track all transactions recorded to this account. You also have the ability to transfer funds from a retainer, trust or escrow account into your designated operating account automatically.
When selecting this feature in the preferences of your company file, you can select to use the term Retainer, Trust Account or Escrow within your AccountEdge company file.
To use Retainers, Escrow and Trust accounts
1
Go to the Setup menu and select Preferences. The Preference window appears.
2
Select the Sales tab.
3
Check
I use Retainers, Escrow & Trusts...
and select either
Retainers, Escrows or Trusts
.
4
Click OK.
Your selection in the preference will appear in the To Do Lists and the Retainer, Escrow & Trust Information window as a default type, however you can change this each time you create a retainer, escrow or trust to track.
To create a Retainer, Escrow and Trust
1
From the Sales command centre select Retainers, Escrows & Trusts. The Retainers, Escrows & Trusts List window will appear.
2
Click New. The
Retainer, Escrow & Trust Information
window will appear.
3
Select the type, either Retainer, Escrow or Trust, you would like to track.
4
Enter the appropriate information necessary to track this account.
5
Click OK.
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