8 Ugly Truths About Trust Accounting Software Compliance


Software Compliance One Size Fits all Approach When it comes to trust accounting software compliance we believe that one size does not fit all. Just because one product is compliant in one state, does not make it compliant across Australia. There are many Trust Accounting software products offered on the market that skate a fine line between compliance and non compliance. Some are really good at meeting the regulations and most could be better. As agents, this is something that we need to be mindful of as this could be the difference between passing or failing our trust account audit. Yes, you can be breached for something that your software allows and it is up to you to maintain compliance within your state’s Regulations. It is wrong to put your faith entirely in a software, you need to do necessary research. The question is, why do these big software companies fail in this area? Surely if it’s offered on the market as a 'Real Estate Trust Accounting' software product then it must be compliant right? Wrong! As many ... read more >>