Trust account report
John2020
Member Posts: 4
I have created a [mixed] trust account to record a retainer and disbursements/fees. There are two accounts, firstly a bank account called Trust Account and secondly a liability account called Trust Funds Held [under Customer Prepayments and Customer Credits]. When I receive a retainer I journal entry to the Trust Account and the Trust Funds Held account. But I need to keep track of each client's trust account balance, because there is only one trust account and it is a mix of all clients, that is, what is known as a client's trust account ledger. Is this possible in Wave?
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Hey @John2020 , thanks for getting in touch. If I'm understanding correctly, this isn't currently possible in Wave. What you could do to make it work would be to create a different account per client so that you can track their balance at all times.