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 >>
Merry Christmas from all of us at End of Month Angels. Merry Christmas! Our office will close for Christmas from 3pm, 23rd December 2016 and will re-open at 9am on the 28th December 2016 through till 5pm, 30th December 2016 for End of Month processing and compliance. The Angels will be resting from 1st January 2017 and returning 9am, 9th ... read more >>
Retaining good people is essential in business. No matter how good you are or your product or service may be, without key personnel, they are worth nada. Which brings us to the topic of staff retention. Your first thoughts on staff retention strategies may drift initially to your key sales staff. Those who bring in the bread and butter to ... 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 >>
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 >>
Going completely paperless in trust accounting is not always a feasible expectation. As an agency there are documents that must be available in hardcopy, however, we can all work towards ensuring we only print those documents that are necessary, and make a conscious effort to minimise our amount of unnecessary printing – both for ourselves and for the environment. NSW ... read more >>
No one wants to be ‘that client’. The one that nearing tax time, is sent into a spin to find the hundreds of receipts and invoices, trying to rectify a year of haphazard record keeping with a massive pile of unordered receipts and invoices. Yes, that client. Don’t get us wrong, this is more common than not, and for reasons ... read more >>
The Australasian Residential Property Management Conference (ARPM) is the leading property management event in Australasia. Delegates benefit from the latest industry information, exposure to new business ideas and networking opportunities from industry colleagues. The theme at this year’s APRM conference was Connect, Engage, Empower. It was all about combining old fashion values with a new techno feel to build great ... read more >>
