No matter how well you prepare for it, when you receive your first breach from your auditor, it may very well come as a shock. We want to help before any potential meltdowns occur. So we have compiled a list if you have been found in breach from your auditor. It highlights the top 10 list of the most common ... read more >>
It’s audit time. You’ve just come up for air after EOFY and now the topic of audits are on everyone’s minds. There is nothing like an impending audit to raise the blood pressure levels and threaten the satisfaction of a full night’s, rested sleep. However fear not, as the reality is really not as bad as what your mind can ... read more >>
End of Financial Year You just got through the last one relatively unscathed, just a few bumps and bruises to show. You recovered… then you blinked and BOOM! It’s here again. And with it comes higher than normal stress levels, later nights, less sleep and a whole lot of thoughts about how you’ll do it better next year. Well, the ... read more >>
RENTAL BONDS ONLINE A New System to Reduce Misappropriation of Bond Money The misuse of trust money is still a hot topic in Real Estate. We have previously written about bond theft and how it is the most common cause of misappropriation of funds in the industry. Unfortunately the message seems to still have not gotten through with agents continuing ... read more >>
Keep it Clean As each day passes EOFY is getting closer and closer and our days of procrastinating on those niggling overdue admin tasks are limited. Let’s admit, we have all had those thoughts of doing a big spring clean on all our systems and procedures. To clear the clutter and make room for some organisation. A fresh start, and ... read more >>
As with many aspects of business, it is acceptable to believe there will be a steep learning curve, mistakes made, and lessons learned as you navigate your way through business. The same goes for your trust accounting. We have previously outlined 10 of the most common mistakes made by real estate agents in a previous blog, which you are invited ... read more >>
Sometimes the ‘set and forget’ tactic can be a blessing. Like setting your coffee machine for automatic brew, or your bread maker to auto bake to rise from slumber to the smells of fresh bread and brewing coffee. Bliss right? However, as an agent, this is definitely not one tactic to have in your repertoire when it comes to managing ... read more >>
Stealing from trust accounts is not just a plain bad idea – it’s illegal It would seem logic would prevail that stealing from your trust account would be a bad idea, yes? Unfortunately for some, this is not a clear-cut decision. Earlier this month, as reported by www.news.com.au, a Victorian Real Estate Agent, 43 years old from Huntingdale, was sentenced ... read more >>
There are some things we can turn a blind eye to. Sneaking in a 3pm sweet tooth chocolate break. Taking an extra biscuit from the staff room stash. Knocking off 5 minutes early to catch some of the last rays of sunshine on a Friday afternoon. But there are some things that you simply cannot ignore. Like your responsibilities as a ... read more >>
Get The Facts on Your Trust Accounting Responsibilities Trust money is any money you receive from a third party that is required to be held in a trust account on someones behalf. Unlike general business accounts, trust accounts accrue no interest and incur no charges. There are strict guidelines as to how to set up and manage your agency’s trust ... read more >>
