Are Server Based Trust Accounting Systems Dead? We are always scared of things we don't know. What one day terrifies us because of the newness and unfamiliarity, soon becomes second nature over time. Cast your mind back to 2015 where the development of new age Trust Accounting & Property Management systems in the cloud began. Skepticism was rife with agencies ... read more >>
Earlier this month we discussed the upcoming 2018 trust accounting reforms as outlined by NSW Fair Trading. Of significance in these reforms was the introduction of the need for a separate sales and rental trust account. For those who already operate with separate accounts, you can pat yourself on the back, close this tab and grab a cup of tea, safe ... read more >>
Christmas Planning for a Guaranteed Restful Break... Christmas break is just around the corner. And for those who have worked hard all year, the idea of kicking your heels up for at least a couple of weeks is highly anticipated. So how can you ensure your clients are well-informed and happy to be left to their own devices so you ... read more >>
Earlier this month we spoke about the importance of setting up a tenant payment system and the key things to avoid to ensure the system runs smoothly. When it comes to tenant payment systems, apart from ensuring you have a system in place, the next key thing is to limit the payment options available. We have previously discussed why agencies ... read more >>
Ask any trust accountant and they will tell you that the bane of their life is when tenants transfer funds to the rental trust account with the reference “Rent”… Never before can one word cause so much pain. We surveyed our office and these were our top 5 funny rent references we have come across for rental payment references: RENT ... 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 >>
Working like a boss on holidays. Working and holiday are generally two words that should never go together in the same sentence. Unfortunately, as many Real Estate agency owners know, finding that right work/life balance can often prove difficult. As discussed in our earlier months blog 'Being a Licensee & Taking Holidays', good planning and modern technology make working remotely a ... read more >>
Data entry is one of the necessary evils of our job. No matter what way you look at it, it is the #1 priority on our daily agenda. Why do we continue to falter when it comes to keeping consistent, well-maintained data entry policies and procedures? Time. Creating effective data entry policies is a time intensive task. Implementing effective procedures ... read more >>
Despite this regulation being in place since January 1st, 2015, it was evident in this years audit that some agencies are still being reprimanded for not complying with the legislation of having a Unique Identification Number (UIN) for all their existing trust accounts. So if you've had a trust account prior to January 1st, 2015 and you're still not sure what the ... read more >>
We understand that by mid December, part of you may check out. Or be on the way the way to checking out. Focus turns from end of month reporting and reconciliations to Christmas parties and fun with friends and colleagues. After a hard year’s work we can see how this can happen… Yet, it is best to not let the ... read more >>
