Trust Accounting Software Australia

Importance of Statutory Trust Accounting Software

Statutory Trust Accounting for Tax Accountants in Australia has been largely neglected due to its compliance and audit requirements and hence TrustEasy team decided to design a trust accounting software to keep the tax agents / accountants stay compliant.

Members of Accounting Body (CAANZ, CPA Australia and IPA) must meet certain guidelines if they manage clients money in the Trust Account. For eg. the statutory trust accounting software they use shouldn’t delete recorded transaction and must use of word “Trust” in the bank account name. Up until TrustEasy developed trust accounting software for accountants, there was no statutory trust accounting software for accountants that could verify it.

Tax Practitioners Board (TPB) under TASA requires tax agents to meet certain code of professional conduct. if they are receiving or holding clients’ money in a trust account. for eg, get client tax refunds from the ATO into the trust account and then pay the net refund after deducting their fee for the tax prep work (Fee From Refund).

Trust Accounting Software in Australia

Why choose TrustEasy as a preferred Trust Accounting Software

There are many reasons why you should choose TrustEasy to manage your trust account, but main reasons are it is software agnostic and works with HandiTax, Xero Tax, MYOB, Reckon and Tax Cat. No matter what your tax lodgement software is, TrustEasy has an easy import function that makes it a perfect companion to your tax lodgement software. TrustEasy is pioneer in cloud native trust accounting software.

Features and Benefits of Trust Accounting Software by TrustEasy

TrustEasy provides out of the box reports for auditors, allows tax practitioners to generate and save Authority letters, get bank feeds automatically to have a clear visibility on the funds coming in and out of the trust account.

Most importantly, your clients’ data remains yours and it stay in Australia and the software is designed by keeping APIs and Information security at the centre.

Trust Accounting Software Australia