Bookkeeper Laura Dion walks through her general procedures for doing trust accounting in QuickBooks.
[S]pecific procedures (see below) need to be followed and reports need to be created to meet the required standards. Trust accounting in QuickBooks is a little tricky and needs to be tracked using specific procedures in order to get good reporting for the Funds Held in Trust (escrow) detail by client. Here is my general procedure for tracking trust accounts in QuickBooks
This is pretty much how my accountant taught me to do it. Maybe Laura will do a tutorial with screenshots for those who have trouble figuring out her method from her detailed comment.