How to track money held for acts (trust account)

When clients pay you and you pay the acts less your commission, the money you're holding belongs to the acts. Trust account (under Money in the menu, Agency plan, owners and admins) keeps that ledger for you.

1. How the ledger works

For each act:

• Received: each client payment recorded on a booked gig (under the gig's Money) is split across the gig's acts by their share of the fee, never more than an act's fee.
• Commission: your commission on what was received, from your commission settings. (When acts are paid directly and pay you, there's no commission line.)
• Paid to act: each payment recorded on Act payouts.
• Adjustments: anything you add by hand.

Held is what's left: received, less commission, less paid, plus adjustments. To collect is the act fees on booked gigs that clients haven't paid yet. Your own act (your organization's default act) isn't included.

2. See it

The page shows what you hold in total, received, paid out and still to collect, then each act. Pick a day under As of to see the ledger on that day. A warning lists any act you've paid more than you've received for them.

Click an act for its ledger, line by line with a running balance, and the total paid to them this year (their 1099 total, the same payments as Act payouts). Print or save as PDF gives them a copy.

3. Adjustments

On an act's ledger, under Add an adjustment, enter an amount (positive adds to what's held, negative takes it off), the day and what it's for. Use it for money held from before GigTools, a refund to a client, or a correction.

4. Reconcile with your bank

Under Reconcile with your bank, enter the day and your bank balance, and click Reconcile. GigTools saves it with what the ledger says you held that day and shows whether they match, or the difference. Past reconciliations stay listed.

Ledger (CSV) downloads every act's lines with running balances.