As Licensee, Property Manager or Trust Accountant in a Real Estate office in NSW you cannot afford to ignore this explanation. The importance in having a delegation of authority. Failure to have the appropriate delegation in writing carries penalties of up to $4,400 for a corporation and $2,200 in any other case. A ‘delegate' is someone who has the authority ... read more >>
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. ... read more >>
Section 115 of the PSBA Act 2002 Yawn. Your eyes glaze at the mention of legislation. Everyones least favourite topic. However some of you may appreciate and share my frustrations in this Section of the PSBA Act after reading this article. I'm of the opinion that recent changes to this part of the legislation have opened a floodgate for compliance ... read more >>
The idea of an overdrawn trust account is is amusing to some agents. It seems odd that a trust account can become overdrawn given the level of funds sitting in the trust account at any one time. How Does an Overdrawn Trust Account Happen? So just how is it possible you may ask? There are many ways that a trust ... read more >>
Wouldn’t it be lovely to receive notification from the NSW Fair Trading Office that your Real Estate agency was undergoing an audit? It would give you time to ensure documents were up to date, training completed and trust accounts reconciled! NSW Fair Trading doesn’t give you a heads up as many agencies have found over recent weeks. In recent articles ... read more >>
Are you new to the Real Estate industry and looking for the right trust accounting software or have you ever questioned if the software you’re currently running is the best software for you? This month’s blog posts are all about technology and how it relates to running the trust account. Having the right technology in place is imperative. The functionality ... read more >>
