Trust Accounting

Functions of an Assistant Agent & Trust Accounting


Deciphering the legislation changes As of 23rd March 2020, we saw changes to the legislation which meant that Certificate of Registration Holders transitioned to Assistant Agents. The new legislation brought about some changes to the daily functions of a person working in a trust accounting role. They can no longer perform all of the same duties as prior to 23rd ... read more >>

Functions of an Assistant Agent & Trust Accounting2020-09-15T14:22:29+10:00

End of Month Angels COVID-19 Message


As COVID-19 (coronavirus) continues to impact people and businesses across the world, we want to share an update on the steps that End of Month Angels is taking to ensure business continuity for our clients here in Australia. Safety of our Angels and clients is paramount, as such, we are taking prompt actions to minimise risk as much as possible. ... read more >>

End of Month Angels COVID-19 Message2020-03-22T22:57:11+10:00

Top 10 Trust Accounting Mistakes to Avoid in 2020


As we discussed in our latest blog, people in business make mistakes. From the rookies through to those who have been in the industry for over 10, or even 20 years, can still make monumental errors. Yet, it never ceases to amaze the extent of the trust accounting mistakes we see on a daily basis. So it prompted us to ... read more >>

Top 10 Trust Accounting Mistakes to Avoid in 20202020-01-31T01:11:36+10:00

Responding to Fair Trading Over a Trust Breach


Trust Breach. Fair Trading. Two simple phrases that are enough to send most agents into a panicked frenzy. Yet, similarly, like calls from the ATO, there is a rhyme and reason. Fair Trading has the purpose to ensure that agents are doing the right thing. That members of the public are not being disadvantaged financially as a result of a ... read more >>

Responding to Fair Trading Over a Trust Breach2019-11-26T00:05:27+10:00

Top 4 Common Receipting Errors


Please Explain... This year, more than ever, we are seeing Fair Trading follow through on agents with qualified audits with a polite, 'please explain'. At the EOMA office, we come across common receipting errors which are at the heart of these qualified audits. One of the biggest and most frequent receipting error, is the timing between receiving and the receipting ... read more >>

Top 4 Common Receipting Errors2019-11-08T03:37:34+10:00

Tenant Dishonoured Rent Payments ~ Best Practice Tips


What is a dishonoured rent payment? A dishonoured rent payment occurs when a rental payment made by the tenant bounces in the trust account. As a result, it is shown on the debit column of the bank statement. So when this happens, what do you do? We detail the best practice solution you can implement when a dishonoured tenant rent ... read more >>

Tenant Dishonoured Rent Payments ~ Best Practice Tips2019-10-10T02:39:21+10:00

How to Avoid Making Rookie Trust Accounting Errors


We understand people make mistakes, especially in business. Let's say it is all part of the learning curve. However, when we see the same mistakes occur day in, day out, then we think we need to do something about it. There is no doubt there are common errors agencies make within their trust accounts on a daily basis. Through our ... read more >>

How to Avoid Making Rookie Trust Accounting Errors2019-09-27T01:37:50+10:00

When Mum is Always Right


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 >>

When Mum is Always Right2019-05-24T05:40:31+10:00

The Art of Tidying Up Before End of Financial Year


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 >>

The Art of Tidying Up Before End of Financial Year2019-05-20T22:17:16+10:00

New Management Checklist for Cloud-Based Software


In our previous blog, we discussed the beauty of checklists and how they can save us from making a mountain mistake out of a molehill. The creation of a simple checklist can quickly and efficiently take your agency from one that makes countless small errors to one that runs seamlessly. So at this point you have your agency checklists in ... read more >>

New Management Checklist for Cloud-Based Software2019-04-30T03:19:48+10:00