Managing trust accounts in the building industry requires precision, timely reporting, and adherence to strict regulatory standards. BuildTrust® offers a comprehensive software solution specifically designed to meet QBCC trust requirements, ensuring that builders, head contractors, and subcontractors can manage their trust obligations with confidence. By automating ledger management, reconciliation, and reporting, BuildTrust® reduces errors, saves time, and provides complete transparency in every transaction.
Key Features of BuildTrust® Software
- Automated Trust Ledger Management: BuildTrust® automatically creates individual ledgers for each trust account, records transactions in real-time, and archives all documents for up to seven years. This ensures that trust balances and beneficial interests are accurately maintained and easily accessible.
- Monthly Reconciliation & Error Correction: The software generates monthly reconciliation statements that compare ledger balances against bank statements and offers tools for error correction using complete reversal or rebalancing methods.
- Regulatory-Ready Reporting: BuildTrust® produces reports in QBCC-approved formats, supports GST and retention calculations, and allows seamless audits by providing clear, complete, and compliant trust records.
The software also supports complex beneficiary and trustee management, automating transactions such as payment claims, schedules, and RCTIs, while ensuring that all beneficial interests are accurately reflected. Additionally, BuildTrust® integrates automatic bank feeds.ABA file creation, and project or retention trust account management, making the system highly efficient for day-to-day operations. By providing comprehensive, audit-ready records and seamless access for accounting firms, our team guarantees that QBCC trust requirements are met with minimal manual effort.
Why Builders and Contractors Choose BuildTrust®
By using BuildTrust®, organisations can streamline their trust accounting processes, reduce compliance risks, and maintain up-to-date, accurate ledgers for multiple projects. Its intuitive interface and automation capabilities help minimise administrative overhead while maintaining full adherence to the BIF Act and QBCC regulations. For builders and head contractors, BuildTrust delivers a reliable, transparent, and secure approach to trust account management, simplifying compliance and ensuring accountability.
With BuildTrust®, trust accounting is no longer a time-consuming challenge. Contact us today to explore how the software can meet your project requirements and provide full compliance with QBCC trust regulations.
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