Trust Account Setup

A Trust Account in ACE records deposits made into a bank account and supports invoicing those funds for remittance to clients. Create one Trust Account record for each bank account you use for deposits/remittances.

Set up a Trust Account

1. Go to Setup → Accounting → Trust Accounts.

2. Click New.

3. Enter account details

   1. Identifier (required): Unique identifier for the account (e.g., OUR_OPERATIONS_ACCOUNT).

   2. Label (required): Typically the same as the identifier (e.g., OUR OPERATIONS ACCOUNT).

   3. Description: Purpose or notes (e.g., “Deposits used for client remittance”).

   4. Routing Number: 9-digit ABA routing number.

   5. Account Number: Bank account number.

   6. Bank Name: Official bank name.

   7. Bank Address: Street, suite, city, state, valid ZIP, country.

   8. Bank Phone: Contact phone.

4. Click Save to create the Trust Account.