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SaleLedger · Free tool

Trust account three-way check.

The monthly test every auction trust account has to pass: bank adjusted balance = trust control balance = consignor subledger total. Enter the figures; see the three balances side by side and the exact difference. Nothing is uploaded — it runs in your browser.

1 · Bank
2 · Your trust ledger
3 · Who the money belongs to

List what is still owed to each consignor at period end (and any buyer credits held). Your earned commission is not trust money — if it is still in the account, add it as its own line so it is visible.

An arithmetic aid, not legal or accounting advice. Your state auction board's rules and your CPA govern what you must keep and how. See the monthly reconciliation guide for the routine, the exceptions and what to retain.

What the three balances mean

Bank adjusted balance = statement ending + deposits in transit − outstanding checks. Trust control balance = opening + receipts − disbursements. Consignor subledger = the sum of what is owed to each person. If 1 ≠ 2 something hit the bank that is not in your books (or vice-versa). If 2 ≠ 3 your books are internally inconsistent — someone was over- or under-paid, or money is sitting in trust with no owner. Every difference needs a named explanation, never a plug.

FROM YOUR EXPORTS, EVERY MONTH

SaleLedger fills this in from your files and names every exception.

Bring in the Auction Flex settlement export, the QuickBooks file and the bank statement. It computes the three balances, lists every mismatch, unmatched deposit, unauthorized transfer and bank fee by name, writes the check register and keeps the history — on your own computer. $129.00/month, 30-day no-card trial.

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