The mere mention of the word ‘strata’ is enough to have some agents running for the hills. But with the increase of apartment living in Australia, agents may wish to start looking at strata as another area to expand their business. So what is different between strata trust accounting vs normal real estate trust accounting? When it boils down to ... read more >>
Is the concept of an interest bearing account as foreign as snapchat? Have you been requested to open an interest bearing deposit account and are breaking out in a cold sweat? Is the process as intimidating as visiting the dentist for the first time in 5 years? You are not alone (insert collective sigh of relief). So what is an Interest ... read more >>
When you love something let it go. Yes, all very well and good in the world of romance. Just not for your trust accountant. That is why we dedicate this blog on keeping your trust accountant for good. When you find a good trust accountant, you grab that baby, hold on tight and don't let go! You see your trust ... read more >>
With the ups and downs naturally associated with the real estate sales market, it is important to take care of your rental roll clients. Your rental roll clients are the ones that will (hopefully) be there through the thick and thin of the sales cycles. When sales times are low, the rental roll keeps clicking along. Just the same, when ... read more >>
Getting to the Bottom of Batch File Payments An aba file is an Australian Bankers Association electronic payment file format. These batch files are generated from your Real Estate trust accounting software when disbursing funds from your rental trust and can be read by your bank. Batch files are typically used in Property Management for paying Landlords and Suppliers and offer great ... 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 >>
I've Gone Live.... Now What? Last month we took you through the steps to successfully migrate your software in-house before the July 1st deadline. So at this point, you have successfully migrated your old software on a system-based server to a cloud-based server. Success! As an added bonus, you have maintained all your hair and not extracted a Coles week's ... read more >>
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 >>
Oh how times have changed. Rewind the clock back to 1997 when the Spice Girls were on every tape player and double denim was a big hit. I was also entering the industry as a fresh-faced real estate newbie. Back then, everything was done via cheque = a major labour intensive process. At the end of every month, I would have ... read more >>
Getting to Know the New Industry Qualifications Discussions surrounding the reform of Property Licensing NSW started in 2016. Fast forward to 2018 and we are now looking at the implementation of these reforms, likely to be later this year. Of note is the introduction of three categories of qualifications as opposed to the existing two. Certificate of Registration Licensed Real Estate ... read more >>
