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There are standard transactions made with trust accounts. Research and give a brief explanation of the following standard transactions. Balances Reconciliations Reports Statements Deposits: Cash

There are standard transactions made with trust accounts. Research and give a brief explanation of the following standard transactions.

  • Balances
  • Reconciliations
  • Reports
  • Statements

Deposits:

  • Cash Deposits
  • Cheque
  • EFT
  • Direct deposits

Withdrawals:

  • Cheque
  • EFT

Entries to:

  • Journals
  • Ledgers

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