Manage and report on a trust account in Xero
Manage a trust account by creating a new Xero organisation that is separate from the account used for day-to-day transactions. You can then report solely on the trust account.
Create a separate organisation and manage the trust account
Follow these steps:
- Add a new organisation for your trust account and choose a pricing plan or start a trial.
- Add current liability account for each client transacting through the trust account.
- Reconcile the statement lines against the relevant client liability account.
Report on the trust account
Use a combination of these reports:
- Balance Sheet to see non-zero balances
- Account Transactions Report to see an overview of trust account transactions
- Detailed Account Transactions Report to see greater details of trust account transactions
Alternatively, one of our App Partners may be more suitable for your trust account requirements. You can find more information about what is available on our App Marketplace (xero.com website).