QBCC Project Trust Accounts
Does MYOB have an ability to comply with the QBCC record keeping obligations under BIF Act - with regard to the maintenance of a "Seperate Trust Account Ledger" capable of providing seperate ledgers ...
Forum Discussion
Hi Everyone
AccountRight/ MYOB Business will store all the account information and transactions recorded in the system into one company file/MYOB Business.
If you need to differentiate a transaction or group of transactions it can be done through Jobs or Categories. Alternatively, depending on the requirements, a fully separate company file.
Hi Stephen
This is not what we are asking about. We need a Trust Accounting progamme (yes, we are aware that transactions can be locked but this is not good enough for the QBCC) that is capable of providing individual project trust account ledgers (meaning 1 ledger for each job/project not separate data files). These ledgers must be capable of producing reports for each individual beneficiary (the subcontractor). Only project trust work is entered into this trust ledger. All other costs (material supply, labour hours etc) are entered into a separate ledger (but in the same data file). I've attached a couple of files from the QBCC so that you can understand better. It would also be very beneficial to have multiple Electronic Clearing Accounts.