EOFY is fast approaching. No doubt it is gleaming out bright and clear in your diary like a beacon lost at sea. Well, we are taking it one step further and helping you to think about avoiding an audit breach post EOFY. Yep, we are thinking about beyond 30 June already. Even we cannot believe it. We have touched on ... read more >>
How My Mums Advice Is Scarily Applicable to Trust Accounting May is the month for Mums. So in light all things mothers, we thought we’d ask our staff what annoying things their Mums used to say when they were growing up. Susan was quick to respond with ‘Don’t pull faces or the wind will change’. Well we guess she took ... read more >>
How to KonMarie Your Trust Account at EOFY Are you obsessed like us and an avid follower of the #konmarie method of tidying up? If so, then you’ll have probably watched Marie Kondo’s series in full on Netflix – Tidying Up with Marie Kondo. For those of you not on the tidying movement (for the uninitiated you should really give ... read more >>
Getting to the Bottom of Batch File Payments An aba file is an Australian Bankers Association electronic payment file format. These batch files are generated from your Real Estate trust accounting software when disbursing funds from your rental trust and can be read by your bank. Batch files are typically used in Property Management for paying Landlords and Suppliers and offer great ... read more >>
The yearly audit is a must-do of every real estate agency. Your annual audit is up there on the yearly to-do list along with your staff performance reviews and the planning of your annual staff party. Yet, your annual review may not cause as much excitement as your Christmas Party… although there could be beverages involved in the aftermath… So ... read more >>
Choosing the Right Trust Account Auditor Strap yourselves in for what is going to be an epic blog of epic proportions. Yet as we may joke about the dry nature of our audit topic this month, it is one to actually be taken quite seriously. Yes we are talking about the importance of using a qualified real estate trust account ... read more >>
Australia thrives on small business. It is what makes our country go round. So the reality of the number of small business that fail to succeed is definitely a cause for concern. According to the Australian Bureau of Statistics, more than 60% of small businesses cease operating within the first three years of opening their doors. How Can You Reduce ... read more >>
Despite this regulation being in place since January 1st, 2015, it was evident in this years audit that some agencies are still being reprimanded for not complying with the legislation of having a Unique Identification Number (UIN) for all their existing trust accounts. So if you've had a trust account prior to January 1st, 2015 and you're still not sure what the ... read more >>
Going completely paperless in trust accounting is not always a feasible expectation. As an agency there are documents that must be available in hardcopy, however, we can all work towards ensuring we only print those documents that are necessary, and make a conscious effort to minimise our amount of unnecessary printing – both for ourselves and for the environment. NSW ... read more >>
No matter how well you prepare for it, when you receive your first breach from your auditor, it may very well come as a shock. We want to help before any potential meltdowns occur. So we have compiled a list if you have been found in breach from your auditor. It highlights the top 10 list of the most common ... read more >>
