Manage your QBCC project trust accounts with PayTrade. Compliant trust accounting software built for the Australian construction industry.
PayTrade simplifies the administration of project trust accounts as required by the Queensland Building and Construction Commission (QBCC). Our software ensures you meet all regulatory requirements while streamlining your payment workflows.
A project trust account is a bank account established for a specific construction project. All payments received for the project must be deposited into this account, and payments to subcontractors and suppliers must be made from it. This ensures that funds are used for their intended purpose and provides transparency in the payment chain.
Under the Building Industry Fairness (Security of Payment) Act 2017, head contractors on eligible Queensland Government projects valued at $1 million or more are required to establish project trust accounts.
Sign up for PayTrade today and simplify your construction trust accounting.
Get Started Free