#sales

Ace Your Trust Account Audit

2019-07-08T06:12:14+10:00

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 >>

Ace Your Trust Account Audit2019-07-08T06:12:14+10:00

Failures of Section 115 of the Property Stock & Business Agents Act 2002

2019-07-08T06:50:20+10:00

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 >>

Failures of Section 115 of the Property Stock & Business Agents Act 20022019-07-08T06:50:20+10:00

Overdrawn Trust Accounts – Notify or Face the Fine!

2019-07-08T06:54:16+10:00

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 >>

Overdrawn Trust Accounts – Notify or Face the Fine!2019-07-08T06:54:16+10:00

7 Things to Consider When Selecting the Right Bank for Running Your Real Estate Trust Accounts

2019-07-08T06:59:55+10:00

Are you a startup Real Estate office looking for the right bank to open your trust accounts with? Or are you an existing Real Estate office and considering switching banks? This post discusses the considerations that need to be made when selecting the right bank for running the trust account. Our Top 7 Banking Considerations There are many things to consider when selecting ... read more >>

7 Things to Consider When Selecting the Right Bank for Running Your Real Estate Trust Accounts2019-07-08T06:59:55+10:00

Surviving a Random NSW Fair Trading Inspection: 10 Things You Need to Put In Place

2019-07-08T07:01:20+10:00

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 >>

Surviving a Random NSW Fair Trading Inspection: 10 Things You Need to Put In Place2019-07-08T07:01:20+10:00

10 Questions to Ask When Considering a Trust Accounting Software Provider

2019-07-08T07:05:12+10:00

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 >>

10 Questions to Ask When Considering a Trust Accounting Software Provider2019-07-08T07:05:12+10:00

A deeper understanding of the new requirements for Trust Accounts in 2015

2019-03-28T06:25:12+10:00

In my previous post I explained in 10 easy steps the process for registering existing trust accounts under the new legislation which was effective 1st January 2015. The following is the process for closing an existing trust account in 8 easy steps which replaces the previous GREEN FORM requirement from Fair Trading. Go to the OneGov website. Hover on the services link ... read more >>

A deeper understanding of the new requirements for Trust Accounts in 20152019-03-28T06:25:12+10:00

10 Easy steps to meet the new requirements for trust accounts from January 1, 2015.

2019-03-28T06:25:12+10:00

Are you a property agent looking after general trust accounts? From January 1st, all general trust accounts need a Unique Identifying Number (referred to as UID), which can be obtained from the NSW OneGov Government Licensing Service website. This change under the Property, Stock and Business Agents Regulation 2014 supports NSW Fair Trading officers in monitoring accounts and safeguarding consumer funds. To be ... read more >>

10 Easy steps to meet the new requirements for trust accounts from January 1, 2015.2019-03-28T06:25:12+10:00

Best Practice in Sales Trust Accounting & Handling Interest Bearing Deposit Accounts

2019-07-08T07:18:06+10:00

What do you think when I say 'Pink Form'? Where do you use it in the sales trust accounting process? Do you know what it is? It does not surprise us if you answer no. Many people are not aware of their obligations when opening Interest Bearing Deposit accounts or the records they need to maintain. This article will therefore ... read more >>

Best Practice in Sales Trust Accounting & Handling Interest Bearing Deposit Accounts2019-07-08T07:18:06+10:00
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