# Trace Account Details
$TraceAccount = "DomainSPTrace"
$TraceAcctPWD = "Enter The password here"
$SecTraceAcctPWD = (ConvertTo-SecureString $TraceAcctPWD -AsPlainText -force)
 
# Formatting
$TraceAccountDomain,$TraceAccountUser = $TraceAccount -Split "\"
 
# Get the tracing service.
$farm = Get-SPFarm
$tracingService = $farm.Services | where {$_.Name -eq "SPTraceV4"}
 
$Cred_TraceAcct = New-Object System.Management.Automation.PsCredential $TraceAccount,$SecTraceAcctPWD
 
## Add Managed Account for Trace Account
$ManagedAccountTrace = Get-SPManagedAccount | Where-Object {$_.UserName -eq $TraceAccount}
If ($ManagedAccountTrace -eq $NULL) 
{ 
	Write-Host -ForegroundColor White "- Registering managed account" $TraceAccount
	New-SPManagedAccount -Credential $Cred_TraceAcct | Out-Null 
}
Else {Write-Host -ForegroundColor White "- Managed account $TraceAccount already exists, continuing."}
 
 
# Get the managed account.
$managedAccount = Get-SPManagedAccount "$TraceAccount"
If ($tracingService.ProcessIdentity.ManagedAccount -notlike "*$managedAccount*"){
 
# Set the tracing service to run under the managed account.
$tracingService.ProcessIdentity.CurrentIdentityType = "SpecificUser"
$tracingService.ProcessIdentity.ManagedAccount = $managedAccount
$tracingService.ProcessIdentity.Update()
 
# This actually changes the "Run As" account of the Windows service.
$tracingService.ProcessIdentity.Deploy()
}
 
Try{
([ADSI]"WinNT://$env:COMPUTERNAME/Performance Log Users,group").Add("WinNT://$TraceAccountDomain/$TraceAccountUser")
}
catch {Write-Host -ForegroundColor White " - $TraceAccount is already an in the Performance Log Users group, continuing."}
 
Write-Host "All Done"