Owner reporting in Xero can be painful.
Let's use the example below for a trust with 10 beneficiaries.
Before you try it, here are some facts.
The process
1 - Determine WHO will be beneficiary 1,2,3 and so on.
Steve Jobs = Beneficiary 1
Bill Gates = Beneficiary 2
Michael Jordan = Beneficiary 3
2 - Set up the accounts as a liability or change the account type to liability.
Name the accounts in a way that makes sense.
We recommend using the beneficiary names, EG "Drawings - Steve Jobs".
3 - Go to report codes and map the accounts to the correct number.
4 - If needed, add in the balances, this does NOT include the distribution (DR appropriation amount) as this report does NOT include it.
5 - Your report should now look like this
6 - Record the income distributions
See this article.