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Before you can record a deposit, VisaFlo needs to know which regulator you answer to and how your firm holds client money. You do this once in settings, then open your account.

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1. Choose your regulator and trust model

Open Settings → Trust Accounting (or the Settings tab on the Trust Accounting home screen). Trust Accounting settings showing regulator, compliance timezone, and CICC trust model
  1. Turn on Enable trust accounting.
  2. Set your Regulator / jurisdiction — for immigration consultants this is CICC (RCIC).
  3. Set your Compliance timezone. Filing dates, account opening/closing dates, and deadline status all use this local calendar day.
  4. For CICC firms, choose your trust model:
    • Model 1 — all client money flows through the client (trust) account.
    • Model 2 — only unearned / unbilled money goes into the trust account; earned-and-billed money must not.
  5. Choose whether to require independent reconciliation review (the person who signs a month-end check must differ from the person who prepared it). Solo practices can turn this off.
  6. Save Settings.
Your CICC trust model is set per audit year (July 1 – June 30) and locks the first time client money is received. Pick the model your firm actually operates under before your first deposit — it cannot be changed once locked.

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2. Open the trust account

An account is the record of your real trust bank account. Open one from the Trust Accounting home screen. For a CICC account you’ll provide:
  • Account name and type — pooled (shared across clients) or separate (opened for one named client).
  • Bank identity — bank name, address, and a masked account number (all but the last 3–4 digits hidden). A full account number is not accepted.
  • Opened date — the real date the bank account was opened (it can’t default to today).
  • Three CICC attestations — account title, institution eligibility, and no-lien.
The attestations are your confirmations as the licensee. VisaFlo does not inspect bank records or run a lien search, so never treat them as an external verification.

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What comes next

Once your account shows on the home screen with a balance, you’re ready to record a deposit.

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Troubleshooting

  • “CICC deposit classification required” or “received date required” later on — these come from the trust rules, not a bug. See Record a deposit.
  • Can’t change the model — it locked on the first client-money receipt for the audit year. A new audit year gets a fresh election.
  • Can’t close an account — the balance, firm funds, and any reserved funds must all be zero, and there must be no transactions or reconciliations dated after the close date.