Controlled Bank Accounts and Transactions

14/04/2026
Knowledge

How To

Controlled Bank Accounts refers to trust funds a firm is authorised to manage on behalf of others. Learn how to manage Controlled Bank Accounts in LEAP including account creation, closures, reopening accounts and managing transactions.

Desktop
Web

Open a New Controlled Bank Account

Open the matter.
Click LEAP Accounting.

LEAP Accounting will open in a new window.
Click the Trust Funds > Controlled Bank Accounts tabs.
Click New Account on the toolbar.
The Matter number defaults to that of the matter you opened. To change to a different matter, click to choose a matter from the list, then click Select.

Click to open the associated matter and view its details.
Enter an Account Name.
Enter the Institution and Account No.
Enter the Opening Balance of the account if it's known. If it's not known, tick the Unknown checkbox.
Enter or select the Date Opened for the account if it's different from the current calendar date.
Enter any Authority Details.
Click Save & Close.

Close a Controlled Bank Account

Click to edit heading

Make sure that any outstanding balances on the account are finalised before you close the account.

Open the matter.
Click LEAP Accounting.

LEAP Accounting will open in a new window.
Click the Trust Funds > Controlled Bank Accounts tabs.
Select the account you want to close with the drop-down at the top of the ledger, then click the icon.
Click on the toolbar then select Close account.
Confirm the action.

Click to edit heading

If a Controlled Bank Account has a balance when it is closed, the account will still appear in the Controlled Bank Account Ledger Report afterwards.

Reopen a Controlled Bank Account

Open the matter.
Click LEAP Accounting.

LEAP Accounting will open in a new window.
Click the Trust Funds > Controlled Bank Accounts tabs.
Select the account you want to close with the drop-down at the top of the ledger, then click the icon.
Click on the toolbar then select Reopen account.
Confirm the action.

Create a New Controlled Bank Account Transaction

Open the matter.
Click LEAP Accounting.

LEAP Accounting will open in a new window.
Click the Trust Funds > Controlled Bank Accounts tabs.
Select the appropriate account from the Accounts drop-down list.
Click New Transaction on the toolbar.
Select the appropriate Transaction type from the drop-down list.
Enter or select other relevant details for the transaction.
Click Save & Close.

Reverse a Controlled Bank Account Transaction

Open the matter.
Click LEAP Accounting.

LEAP Accounting will open in a new window.
Click the Trust Funds > Controlled Bank Accounts tabs.
Select the appropriate account from the Accounts drop-down list.

Click to edit heading

You can view the account in more detail by clicking the User-added image icon to the right of the account.

Open the transaction.
Click on the toolbar.
Edit the Reason, if required.
Click Save & Close.

Open a New Controlled Bank Account

Open the matter.
Hover over the Trust Funds tab and click Controlled Bank Accounts.
Click New Account to open the New Account window.
Enter the Account Name.
Enter the Institution.
Enter the NCC. Number and Account Number.
Enter the Authority Details.
Enter the Opening Balance, if required.

You may tick Unknown if the opening balance amount is not available.
By default, the Account Opened date will be today's date.

Click to select a different date, if required.
Click Save.

Close a Controlled Bank Account

Click to edit heading

Make sure that any outstanding balances on the account are finalised before you close the account.

Open the matter.
Hover over the Trust Funds tab and click Controlled Bank Accounts.
Click on the filter to display the list of accounts.
Under Active, click next to the account.
Click Close Bank Account at the bottom-left-hand corner of the window.
Click Confirm.

Reopen a Controlled Bank Account

Open the matter.
Hover over the Trust Funds tab and click Controlled Bank Accounts.
Click on the filter to display the list of accounts.
Under Inactive, click next to the account.
Click Reopen Bank Account at the bottom left-hand corner of the window.

Create a New Controlled Bank Account Transaction

Open the matter.
Hover over the Trust Funds tab and click Controlled Bank Accounts.
Click New Transaction to open the New Transaction window.
By default, the Payee/Payor will be your Client.

Click to select a different Card from the window.

You can also directly tpe a name and address into the Payee/Payor textbox.
Select the Transaction Type from the drop-down list.

Depending on the transaction type selected, the Payment Type field will appear.
Select a Payment Type from the drop-down list.

Once a payment type is selected, the Payment Type Details window displays. Complete the relevant information in the window and click Add.

If you need to change any of the payment type details at any stage, click .
Enter the Amount.
Enter the Reason.
Enter a Transaction No. if you are not using automatic sequential numbering.
By default, the Transaction Date is today's date.

Click to select a different date, if required.
The Entry Date is always today's date and cannot be changed.
Click Save.

Reverse a Controlled Bank Account Transaction

Open the matter.
Hover over the Trust Funds tab and click Power Money.
If you have multiple accounts, click on the filter to display the list of accounts and select the account.
Open the transaction.
Click Reverse.
Edit the Reason, if required.
Click Save.

Last Modified Date

14/04/2026 11:08 am

Title

Controlled Bank Accounts and Transactions

URL Name

Controlled-Bank-Accounts-and-Transactions-NZ

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