Trust Management

GETTING STARTED WITH TRUSTS

• Trust set up (individual trust - start to finish)
• Trust set up (Importing from Xero Practice Manager)
• IR Reporting for Trusts in Connectworks
• Set up the Trust Profile
• How to Edit Trust Profiles
• Meeting the Trust Act 2019 record-keeping requirements with Connectworks
• Trusts Act 2019 - Trust record keeping requirements

ASSOCIATED PARTIES (TRUSTS)

• Adding associated parties to entity profiles
• Roles within a Trust
• Retiring a trustee or beneficiary
• Correcting a trustee or beneficiary appointment date
• Delete an associated party added in error
• Setting an Entitlement (Sui Juris) Date
• Beneficiary Disclosure Tracking

ASSETS & LIABILITIES

• Managing a trust ledger (Video)
• Add an Account
• Managing Trust Ledger Accounts
• Buying or acquiring assets
• Revalue an Asset
• Capital additions and removals
• Selling an asset
• Recording and repaying mortgages or other loans
• Debt & Gifting
• Making distributions
• Trust Ledger - Reports
• Account Transfers
• Advancing and recovering loans to third parties
• Editing Account Movements
• Editing transactions
• Creating custom transactions
• Recording trust expenditures
• Recording trust income
• Pay/Receive Money
• Reconcile the suspense account (Editing account movements)