You can create a Trust Account in mattero to carry out and record Trust transactions for your organisation.

Creating a Trust Account is the first step to using Trust in mattero; once you have created your Trust Account, you can then create its Opening Balance to continue from your previous system. (View the Create an Opening Balance for a Trust Account article for more information.)

Please note, before generating any Trust records in mattero, you must link your organisation's general bank account with mattero. (View the Link and Edit Bank Accounts, and Set a Default Bank Account article for more information.)

It is also recommended you review your Trust Document Templates and make edits and updates as needed. (View the Upload Files as Document Templates and Edit Document Templates articles for more information.)

Prerequisites

Before configuring Trust in mattero, you must first open a Trust Account with an Authorised Deposit-Taking Institution (ADI). Refer to the following resources for a list of approved ADIs:

• Australia
• New Zealand

Please note, the resources supplied here may not include all current Authorised Deposit-Taking Institutions. It is strongly recommended you confirm your chosen institution is an Authorised Deposit-Taking Institution before proceeding.

Creating a Trust Account

To create a new Trust Account:

1. On the sidebar, select System ().
2. Under Trust Accounting, select Trust and Bank Accounts.

3. In the Trust Accounts tab, select Create Trust Account.

4. Enter your Trust Account's details as needed in the window that appears (each Trust Account must have a unique Account Name).
   
   
5. Select a Receipt Template from the dropdown menu; this will define how your Trust receipts display when they are published. Please note, mattero's standard receipt template will be configured by default, however you can edit or upload your own templates.
   
   (View the Upload Files as Document Templates and Edit Document Templates articles for more information.)
   
   
6. When all relevant details are entered, select Save.

The new Trust Account will be created with a $0 balance.

From here, if you have a prior Trust Account, you can now enter its Opening Balance to continue from your previous system. (View the Create an Opening Balance for a Trust Account article for more information.)

Once this is done, or if this is your first Trust Account, you can now create Trust transactions against your new Trust Account.

Configure Numbering for Trust

Trust Records are assigned an identifying number in ascending order. You can set the number sequence to clearly identify these as Trust Records, and/or to provide continuity with any prior records from a prior system.

Please note, it is recommended you configure your Trust's numbering before adding any new Trust Records to mattero.

To configure the numbering:

1. On the sidebar, select System ().
2. Under Trust Accounting, select Trust and Bank Accounts.

3. In the Trust Accounts tab, select the Actions menu on a chosen Trust Account, then select Edit Number Sequence.

4. Select a Trust Record type from the window that opens. (View the Creating and Maintaining a Trust Record article for more information on each record type.)

5. Fill in the fields on the Enter the Numbering Sequence window:
   
   Prefix
   What is shown at the record's start. Can be used to differentiate between record types, such as an "R" prefix for Receipt records, and a "J" prefix for Journal records, etc.
   
   Number of Digits
   The minimum amount of numbers included in a receipt, defaults to 0 (no limit). For example, if the limit is set to "5" and there are fewer than five digits on the receipt, an additional "0" will automatically be added until the minimum is reached ("123" becomes "00123", and so on).
   
   Next Number
   Sets the starting number for the next record generated, such as if you have imported data from another system and wish to continue records in its sequence.
   
   A sample of the next record to be generated will display.
   
   When all areas are filled, select Save.

When you generate a new record, it will be assigned the next number in the sequence.

Configure Clearance Days for Transactions

You can configure a default number of clearance days for various the media types of your transactions, such as cheques, cash, credit cards and so on.

These default day amounts will appear when creating a Trust Receipt, however they can also be edited at this time. (View the Creating a Trust Receipt article for more information.)

To configure clearance days:

1. On the sidebar, select System ().
2. Under Trust Accounting, select Transaction Media Types.

3. Select the Actions menu of a Media Type, then select Edit Details.

4. In the window that opens, edit the Name and Clearance Days as needed, then select Save.

Related Articles

Create an Opening Balance for a Trust Account

Trust and Accounting Migration Checklist