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Trust Management

Trust Management

GETTING STARTED WITH TRUSTS

Trusts Overview Video

IR Reporting for Trusts in Connectworks

Trust set up (individual trust - start to finish)

Importing a Trust from Xero Practice Manager

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

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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

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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)

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