The countdown is on as we cross off the numbers of working days left. Along with the majority of other businesses across Australia, most agencies shut their doors over the Christmas period. So it may or may not come as a surprise, but your clients, as well as also enjoying their own Christmas cheer, will also expect their regular payments to ... read more >>
There are times when we just want an easy fix, there are times when an easy fix is OK and legitimate, but there times when it isn’t. There will be times in your trust accounting travels that you will receive unidentified funds and the process is pretty clear on how to treat these type of transactions. The Easy Fix Create an ... read more >>
Unclaimed trust funds can cause some serious unwanted headaches and financial penalties. Unfortunately, receiving unknown money into your trust account is a common occurrence. We need well organised plans and systems in place with our tenants to educate them on using the correct reference. However, every now and then you will need to deal with unclaimed trust funds. So what to ... read more >>
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 >>
THE KEY TO A SUCCESSFUL SWITCH So you have made the big call to switch your trust accounting software provider. Congratulations on making the decision to out with the old and in with the new! It can be a tough decision as switching providers may mean short-term pain – but one that will invariably lead to long-term gain. Now that ... 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 >>
