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AbAlawyers1's avatar
AbAlawyers1
User
3 years ago

Trust Account

Good Morning

 

I have accidentally withdrew excess funds from the trust account and put it in our general account in error through the bank. I have since transferred the money back but I am not sure how to do this transaction in MYOB.

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi AbAlawyers1 

     

    Thanks for your post. Generally speaking, funds transferred between your own accounts are recorded using Transfer money. 

     

    If you don't have the trust account set up in AccountRight you could record a Receive money allocated to a suspense type account for the deposit and a Spend money allocated to the same suspense type account for the withdrawal. If you're unsure about the allocation account you will need to check with your accountant.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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