Trust accounting that’s ready for the auditor.
Consignment money sits in a per-seller ledger with no deletes, the deadlines are timed for you, and month end is a reconciliation and an export.
| Buyer deposit, receipt issued | +$1,000 |
| Balance from buyer | +$27,400 |
| Lender payout | −$9,800 |
| Commission and approved repairs | −$2,040 |
| Paid to seller | −$16,560 |
| Balance held | $0 |
A ledger per seller, with no deletes
Every consignment gets its own trust ledger. The cash book has no deletes, and every change is kept in the change log.
- Per-seller ledger
- Cash book with no deletes
- Full change log
- Trust receipts for every deposit
Deadlines that time themselves
Timers run on the trust deadlines: money banked before the end of the next business day, register entries within 24 hours (ahead of the 2 business days the rules allow), and the seller paid within 42 days of settlement, or 14 days if they ask in writing.
- Bank by the next business day
- Register within 24 hours
- Seller paid within 42 days of settlement
- Only the licensee can withdraw trust money
Finance payouts in the right order
Lender details are captured at signing. At sale, the app produces the payout letter, re-checks PPSR, and pays the lender, then the seller, then the dealer.
- Payout letter generated
- PPSR re-check before payout
- Settlement statements and remittance advice
Month end in minutes
Monthly bank reconciliation and an auditor export, with the transactions register kept up to date as you go. Xero and MYOB sync keep your general ledger in step.
- Monthly bank reconciliation
- Auditor export
- Transactions register
- Xero / MYOB sync
Questions
Who can withdraw trust money?
Only the licensee. Withdrawals from trust are locked to the licence holder.
Can entries be deleted?
No. The cash book has no deletes, and every change is kept in the change log.
Does it reconcile with my bank?
Yes. There’s a monthly bank reconciliation and an export for your auditor.
See it with a real car.
Twenty minutes on a call. We run a car through it, from enquiry to settlement, and you ask the awkward questions.