Trust Accounting Simple

Hi,

I am assuming that you are not an attorney who
is accounting for his trust account. Instead you
have a trust where you have to report the income and expenses of the trust.

It really does not matter which format. The partnership will give you 2 capital/draw accounts.
Your CPA will help you fine tune the equity section
when you provide him/her with the QB file for tax preparation.

Hope this helps,

Linda Saltz, CPA

Advanced Certified QuickBooks Advisor

If you do happen to be in a law office, I suggest you check out the Law Firms forum.  There is a wide variety of posts there re: trust accounting.
Dennis

If you are trying to prepare an accounting for an estate, trust, or conservatorship (or a similar court accounting), then ....

It can be done by setting up a special chart of accounts, and running special "memorized reports".

I have been able to do the court accounting (from posting trasactions through producing the court schedules), and produce 95% of what the court [or other attornies, or the beneficaries] require without exporting to Excel to do any editing.

I would be happy to show what I have done, if some will show me how to upload a company file, and the written instructions I have developed. (I have shared this information with accountants and attorneys over the years - but clearly with the caveat that I am not a QuickBooks consultant and am unable to provide support.)

Robert, I am very interested in your instructions and a sample company file for preparing an accounting for an estate, trust, or conservatorship!

Word to Robert: sorry, at this point we still have not the ability to add attachments to posts, hopefully, that will be coming soon.

Word to the Community: please do not add email addresses or other business contact info outside the classified forums other than a url. You should be putting that kind of info in your profile if you want it publicly available. Otherwise, that info will be edited out.

Thanks,

Deni