Trust Accounting Q&A: Inactive Bank Accounts

November 2018    Tags: , , ,

We have an old bank account that we no longer use. Unfortunately, deposit records are occasionally added to trust accounts using that bank account. Is there a way to prevent this from happening?

In Version 19 you can designate a bank account as “Inactive.” When a bank account is inactive, users are prevented from entering deposit, credit card, and negative EFT transactions for trust accounts that use the inactive bank account.

To set a bank account as inactive

  1. From the File menu, point to Open and select Miscellaneous.
  2. From the Bank Account tab, select the desired Bank Account.
  3. Select the Inactive check box.
  4. Press Ctrl+S.

Note: Positive EFT and check transactions can still be entered for inactive bank accounts so that existing funds can continue to be routed as necessary.

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