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financialteddy
New Member
July 2, 2026
Question

Property Management Fund Movement

  • July 2, 2026
  • 2 replies
  • 91 views

Hi -

We are a property management company with an operating bank account *1234 in our name and address.

However due to Hawaii laws, the rents we collect must flow into a trust bank account *5678 in the name of our broker. This account is setup under their legal entity and address.

At the beginning of each month we need to move funds from trust account *5678 to our clients bank accounts (rent payments) AND to our operating account. 

Is this possible in QB?

2 replies

R
RusimyhrQuickBooks Team
QuickBooks Team
July 2, 2026

Are you trying to physically move money, or just record the transfer in QuickBooks Online (QBO)? QBO only handles the tracking. If you need to record these transfers in QBO, simply set up the broker's trust account as a separate bank account next to your operating account.

 

Here’s how:

 

  1. Add the trust account as a bank account with the detail type set to Trust Accounts - Liabilities.
  2. Add the operating account as a standard bank account.
  3. For each property owner, create an Other Current Liability account to track how much money you're holding for them and keep each owner's funds separate.


Once that's set up, when rent is received, record it as a deposit into the trust account and assign it to the correct owner's account so every dollar is properly tracked.

 

Then, at the start of each month, for client rent payments, go to +Create, select Check or Expense from the trust account, and select the owner's account as the category. This marks the payment as sent and clears their balance.

 

For your management fees, record a Check or Expense out of the trust account under your management fees account, then record a deposit into the operating account using that same account.

 

Lastly, you'll need to reconcile your trust account’s bank statement, your trust account records in QBO, and the total of all owner balances, and all three should match.

 

On top of that, we also recommend consulting with your accountant or a property management finance specialist to make sure everything meets Hawaii's requirements.

 

Comment down below if you have additional questions.

F
financialteddyAuthor
New Member
July 3, 2026

Thank you. This is helpful. I was actually referring to physically moving money from the trust account owned by our broker to our clients and us using QB. I know QB can connect to all bank accounts, but can we move funds out of an account owned by another entity and not us?

D
Dandie_AQuickBooks Team
QuickBooks Team
July 4, 2026

QuickBooks cannot directly move funds from a bank account that is owned by another entity, as it is designed for recording transactions only.

 

To properly reflect these transactions in QuickBooks, you should record them after the actual transfer occurs outside of QuickBooks. For example, you can record an expense or liability when funds leave your control, and a deposit or asset when you receive funds.

 

For detailed guidance, please follow the steps provided by my colleague above.

 

Feel free to reply if you have any additional questions.

B
BonJulius_GQuickBooks Team
QuickBooks Team
July 4, 2026

While setting up clients as vendors and using QuickBooks Bill Pay is a logical approach, unfortunately it can't transfer funds from a bank account owned by a separate legal entity. The feature only supports standard business or personal checking and savings accounts.

 

To handle physical trust distributions, you can visit our app market to search for a third-party provider that best suits your business needs.

 

If you have other questions, feel free to reply. We’re here to help.

F
financialteddyAuthor
New Member
July 5, 2026

So if we have ACH debit authorizations from our clients, we cannot debit their bank accounts for any invoices?

J
Jessavell_AQuickBooks Team
QuickBooks Team
July 5, 2026

You can't use QuickBooks Bill Pay to debit your clients' bank accounts for invoices.  

 

QuickBooks Bill Pay is designed exclusively for your accounts payable, meaning it's only used to send money out to pay your vendors. It can't pull or collect funds from your client's bank account.  

 

To pull money using the ACH authorizations you have on file, you'd need to use our accounts receivable service, QuickBooks Payments. However, QuickBooks Payments will only deposit collected funds into the specific bank account linked to your merchant profile, not a third-party trust account owned by a different legal entity.  

 

If you need a system that can collect payments and deposit them directly into your broker's trust account, it's best to explore a third-party app that specializes in property management. You can find these solutions by visiting our app market to search for a provider that best meets your business needs.

 

If you have any additional questions, please feel free to return to this thread.

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