From the day we started, Trust Accounting has been our pièce de résistance.

The cherry on our French cheesecake.

The icing on our cupcake.

It’s what makes us get up in the morning.

(That and a very strong coffee.)

You get the drift. It’s what we do and it’s what we are damn good at.

So in turn, we outsource our expertise to you – our clients, in a bid to make your life easier.

Why struggle with the mundane world of Trust Accounting when you can outsource it to the best?

So what exactly is Outsourced Trust Accounting?

Outsourced Trust Accounting is the day-to-day management of the financial data in your Trust Account.

What tasks can we take off your hands?

The day starts early – (post-coffee, as above).

  1. The team log into your bank and download your bank report and statement for the previous day (or from the last reconciliation if it’s over a weekend or public holiday).
  2. We then reconcile your accounts.
  3. We send you an SMS if there is nothing out of the ordinary on your accounts.
  4. If you have something that stands out and doesn’t 100% match, we send you a daily email requesting a heads up on what is happening.
  5. We request you come back to us within 24 hours.
  6. It is worth noting, certain states do not allow items to sit in unknown. They must be allocated a certain way to ensure the legislation is followed.
  7. We enter creditor invoices.
  8. In some cases, we will also enter your tenant water bills (depending on the service you request).
  9. We provide you with a mid-month cut-off time and end of month for invoice management.
  10. We process your landlord and creditor payments, both mid month and end of month. We will discuss with you the interval you prefer as some agencies like every week, whereas others prefer daily or monthly.
  11. We process disbursements from the Trust as required.

You can choose to select a short-term solution which may be suitable for agencies experiencing staffing issues or need to correct a short-term problem with the trust account. Or, for agencies looking for a more permanent solution, we also offer full outsourcing where our team of highly experienced staff will manage your Trust Account from our Rozelle office.

If you’d like to find out more about our outsourced Trust Accounting service, simply email us at support@endofmonthangels.com.au and a member of our Trust Accounting team will be in touch.