We are officially in the lead up to the End of Financial Year (drumroll). This trust accounting EOFY leadup has been unlike any other we have seen in our lifetime. With the impact of COVID still too fresh, throwing EOFY into the mix might be enough to tip some over the edge. So we want to step in and help ... read more >>
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 >>
Trust Accounting and Bookkeeping are very different entities. Yet despite being in different worlds, it is important that bookkeeping and trust accounting operate in succinct harmony. Some agencies may have one staff member managing the trust account and reconciling the general account. This is completely acceptable. Other agencies may keep the roles completely separate. Also acceptable. What is important is ... read more >>
This month we are revisiting our oldest friend, reconciliation. Because, no matter how much love and attention we give this friend of ours, they seem to be the one that requires the most attention. It is a commonplace to receive last minute calls at EOFY from clients who have not reconciled their accounts for the entire year. Hence the need ... read more >>
We love software at End of Month Angels. If you haven't noticed, it is something we are very passionate about! We love that software can help to simplify our lives. It makes things easier - instead of harder. Now who wouldn't love that? Over the years we frequently discuss the importance of software compliance. Just check out a few of ... read more >>
Weak passwords are a hacker's dream and everyone else's nightmare. The reality is that the online world is far from safe. Hackers are on the constant look out for weak passwords and systems they can breach quickly and easily. Unfortunately, people are still failing to secure their online information and despite the warnings, online accounts are protected by common and ... 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 >>
The day our Director transferred $100,000 instead of $1,000…and how you can avoid the same mistake. Before you think, no - that can’t be right! Think again. Yes these mistakes can, and do happen (even to the best of us). Major mistakes can happen in the blink of an eye – whether from a momentary lapse in concentration or simple ... read more >>
Are You Guilty of These Trust Accounting Mistakes? We understand in life, mistakes happen. Like leaving an open tin of milo in the house unsupervised or leaving your washing out on a rainy day. Yep – those are passable mistakes. Unfortunately, the mistakes we see on a daily basis with agents and their trust accounts are not on this list. ... read more >>
