Account Receivables for Trust Accounts

In Toronto - 2021 · ‎July 19, 2021

I have QB Pro online and I am using 4 income accounts:

- 2 operating accounts (USD and CAD)

- 2 trust accounts (USD and CAD)

I need to be able to keep operating and trust funds separate, including when issuing an invoice and recording the Account Receivable.

I was having a similar issue with Accounts Payable, and upgraded to QB Pro to be able to remove the centralized A/P account, and are looking to do something similar with the A/R account.

Can I direct entries (invoices) to the particular revenue accounts to particular Trust A/Rs?

Or can I add sub-accounts to the main A/R account and separate out that way?

Thanks

Tammy_H · ‎July 19, 2021

Hello In Toronto - 2021,

Welcome to the QuickBooks Community, where you'll find a lot of great information and allows you to connect with other users. You can create Accounts receivable subaccounts; however, you're unable to direct invoices or sales receipts to a particular A/R account. You can create a journal entry that records the sale and the A/R subaccount. If having the option to map the sales to a specific A/R account is important to you, I can explain how to send the suggestion to our amazing team of product developers.

To provide feedback for these easy steps:

Go to the Gear Icon.
Select Feedback.
Input all your ideas, and click Submit feedback.

If you have any other questions, let me know. Take care.

In Toronto - 2021 · ‎July 20, 2021

Thanks Tammy. If I speak with the proiduct development team, is this something they could customize or is it something they make take into account for future updates?

Also, is this particular A/R behaviour specific to the online software, or does the desktop version also deal with A/Rs in a similar manner?

Thanks again.

JamesM4 · ‎July 20, 2021

Hi there. You can contact our product development team using the details shared by Tammy above. Our product developers will be notified by the feedback you send them and they'll work on incoorporating the feature requests in the upcoming updates. The Desktop version of QuickBooks also behaves the same way as described above. Let me know if you have other questions, I've got your back.

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Account Receivables for Trust Accounts