Xero Integrations - Removing Trust Transactions from Express/Practice Pro existing systems

Created by Kylie Mitchell, Modified on Wed, 14 Dec 2022 at 03:41 PM by Kylie Mitchell

As you will be aware Express and Practice Pro systems that have already been implemented have trust transactions that replicate in Xero. Actionstep have now provided a way to turn these transactions off - please note that this only effects the TRUST transactions. 

Invoicing and payments will still replicate in Xero as intended. 

 

To turn off the trust transactions from being replicated in Xero. Go to:

  1. Admin
  2. Trust Accounting
  3. Additional Settings
  4. Additional system-wide preferences


On this page, you can now click the button picture below to turn off trust transactions in Xero. 



After this if you want to remove the balances of those trust accounts from Xero and all financial reporting - you can archive any trust related accounts in Xero. Please make sure to do this after you have turned OFF posting trust transactions to Xero. Also make sure to change the balance sheet date as at today's date to show this removal.


WARNINGS:

  • If you have concerns about archiving these accounts please speak to your accountant. 
  • If you want to delete these accounts you would need to remove all transactions associated with them, which may make your invoices appear unpaid as you would need to remove the payments. 
  • If you are making payments to firms interest in trust - your invoices will show as paid in Xero however depending on when/how this money is transferred to your business account you may difficulty reconciling the business account as those payments will need to add up to the invoices paid. For more advice regarding this please contact one of our Certified Consulting Partners or your accountant.

 

 

 

 For a demonstration video please see below.