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.

Trust accounts sometimes carry particular legal requirements. We strongly recommend you consult with your accountant or bookkeeper about the best method for your organisation.

Create a separate organisation and manage the trust account

Follow these steps:

  1. Add a new organisation for your trust account and choose a pricing plan or start a trial.
  2. Add current liability account for each client transacting through the trust account.
  3. Reconcile the statement lines against the relevant client liability account.

Report on the trust account

Use a combination of these reports:

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).

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