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CommunityIt would be great if IBD transactions fed through to the Trust account also, like the Trust to Office transfers do, so you don't have to do x2 transactions for essentially the one transaction.

It would be great if IBD transactions fed through to the Trust account also, like the Trust to Office transfers do, so you don't have to do x2 transactions for essentially the one transaction.

Jodi Jackson (Customer) asked a question.

It would be great if IBD transactions fed through to the Trust account also, like the Trust to Office transfers do, so you don't have to do x2 transactions for essentially the one transaction.

  • Amanda Holland (Customer)

    100%!

    you should put this on the feedback and ideas page :)

  • Dear Jodi

    Thank you for posting! This is also on the Ideas Hub and the good news is that a solution is currently in development. Watch this space!

    Thanks,

    Chantal McNaught

    Client Success team

    Expand Post
  • Natalie Burgess (Customer)

    The trust & IBD ledgers have been partially integrated making it easy to do a simple transfer to/from IBD for an existing IBD account, but ...

    1. when setting up a new IBD account, two entries are still required - one on each ledger
    2. when doing a full withdrawal from IBD, there's a new tab for the interest, RWT & admin fee to be entered but these details aren't registered in any way on the trust ledger - a transfer from the IBD is required being principal plus net interest, and I'm entering the interest, RWT & admin fee details in the narration so that this info is showing in the general ledger

     

    On our old system we entered the principal, interest, RWT and admin fee and this was reflected in BOTH ledgers requiring only one entry - more efficient and not open to human error.

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It would be great if IBD transactions fed through to the Trust account also, like the Trust to Office transfers do, so you don't have to do x2 transactions for essentially the one transaction.