Each month at reconciliation time you should print
- A Trust Summary Report for only the specific trust account you are reconciling
- A Trust Checkbook Register printout
- A Trust Liability subsidiary ledger printout
If the ending balance on these reports match and your bank reconciliation is in balance then you are in balance. If you have more than one trust account then the total of the trust checking accounts should match the balance in the trust liability account. If your Trust Summary report and your Checkbook Register do not match, you need to compare line-by-line each entry on the checkbook register to each entry on the Trust Detail Report. Abacus will not allow you to finish your Trust Bank Reconciliation without having both the Trust Activities in balance with the Checkbook Register.