We are a medium sized construction company and with the Trust Accounting requirements needed by the QBCC, the only way I can see to use MYOB is by creating 'Categories' for each Trust Account. One statement that they require is a 'Trial Balance' so is MYOB able to create a "Trial Balance by Category' report??
Hi Phoenix01
Currently all the reports that AccountRight can produce can be found in the Reports section. That said AccountRight doesn’t allow for a trial balance report to be generated on categories assigned to transactions. All of the category specific reports can be found on our help article Accounts Reports
That's not very helpful when the QBCC are bringing in this legislation.... Are MYOB going to create a Trust Accounting programme for the Construction industry to suit QBCC ??
Hi Phoenix01
Apologies for the delay in response. The categories are generally used to track a cost centres, separate departments, or offices within a company. For example, tracking different divisions such as accounts, marketing, sales, operations.
As trusts are separate entities, we usually would see a separate datafile being created for each trust. You might find it easier to report on if you do it this way or have a look at our advanced software if you need something more tailored to the construction industry.
if you have any further questions Please let me know.
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