Trust Accounting Q&A: Renumber Trust Account to Change Bank

July 2022    Tags: Bank Accounts, Trust Accounting

A new employee selected the wrong bank account for a new trust account. Is there an easy way to fix this, now that trust transactions have been entered?

The Renumber Trust Account utility can be used to change the bank account associated with a trust account.

To change the bank account associated with a trust account

1. In the Quick Launch, search for and select “Renumber Trust Account.”
2. In the Old Trust ID field, select the Trust ID that you need to change.
3. In the New Trust ID field, select the same Trust ID.
4. In the New Bank Number field, enter the bank account number to which you need to move this trust account.
5. Click the Renumber button to complete this process.

Note: You cannot renumber a trust account with reconciled or combined transactions to use a different bank account. Additionally, the Trust ID and Bank number you are renumbering the account to cannot already exist.