How to Record Trust Administration Fees
Accounting for the recurring fees charged for the management and oversight of client trust structures.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Client Cash Account | Asset | 5,000.00 | - |
| Trust Fee Income | Revenue | - | 5,000.00 |
💡 Accountant's Note
The bank debits the client's internal cash account to collect the fee and credits the trust service revenue account.
Practitioner & Systems Framework
💻 ERP Architecture
Automated billing module within the Wealth Management Suite.
⚠️ Audit Flags
Discrepancies between trust deed fee schedules and actual billings.
📄 Required Documentation
Trust Deed, Fee Schedule, and Monthly Billing Statement.
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Discussion & Community Questions
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