BookingTrust uses two separate bank accounts:
- Trust/Host account: the main account receiving booking payments collected on behalf of owners. If you are not required to have a trust account, this is a standard bank account dedicated to holding those payments.
- Trading account: your general business account, where your management fees are paid.
As part of setup, we create the bank account entries for you. Edit these entries to update your bank account numbers. Do not delete bank account records: transactions may already be linked to them.
Open the bank account record
Go to Profile > Bank Accounts.
Click Edit beside the account you want to update. For standalone clients creating an account, click Add Bank Account.
Enter the bank details
- Enter a NickName. Only you can see this name. It appears in the Bank Account dropdown when creating an invoice or confirming disbursement.
- Enter the 6-digit BSB.
- Enter your Account Number exactly as supplied by your bank.
- Enter the full Account name.
- For your Trust/Host account, tick the Trust Account box shown in the example. Tick it for the account holding owners’ money even if it is not an actual trust account. There must be a bank account with this option selected.
- Click Save.
Set the default account
Once all your accounts are created, click Make Default beside your Trust/Host account. It will be selected automatically in the Bank Account field when you create an invoice or confirm disbursement.