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External GL Workflow: Recording Trust Cash and Liabilities in QuickBooks (VRTrust)

General setup to maintaining Trust Account in QBO combined with posting PM Statement from VRTrust using our Daily/Monthly Journal workflows

Overview

When using VRTrust alongside QuickBooks, your goal is to:

  • Track trust cash activity

  • Track trust liabilities

  • Avoid duplicating accounting between systems

🧾 Best Practice

Record All Trust Activity in QuickBooks As:

1. Trust Cash

  • Use your trust bank account

2. Trust Liabilities

  • Post to a:
    ➤ Trust Liability Account

💡 Example

If you receive a $1,000 payout:

  • Debit: Trust Bank Account

  • Credit: Trust Liability Account

Hint: Use bank rules to accomplish this!

✅ Result

  • QuickBooks reflects:

    • Total trust cash

    • Total trust obligations

  • VRTrust remains the system of record for detailed accounting (i.e. the Trust Account Subledger)

🚫 What NOT to Do

  • Do not attempt to recreate full trust accounting workflows in QuickBooks

  • Do not push detailed transaction-level data unnecessarily

  • Do not try to map and post complete account/TB from VRT to QBO

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