Property Shell is excited to announce that we now support full trust accounting, a crucial feature for real estate professionals, project marketers, and agencies. This addition enhances our comprehensive PropTech solutions, ensuring you have everything you need in one place.

What is Trust Accounting?

Trust accounting refers to the accounting records and practices required under the Act to enable real estate agents to properly account for trust money in their possession. This involves keeping full and accurate accounting records that:

• Show the true position of all trust money received.
• Enable your trust accounts to be properly audited.
• Detail who is entitled to the trust money.
• Include details of each trust money transaction.
• Record the dates on which, or the period during which, each transaction took place.

Using estate agent trust accounting software can simplify compliance with these requirements.

When taking deposits into a trust account in Australia, real estate agencies are required by law to adhere to formal guidelines set forth by state consumer laws. Trust accounting involves bookkeeping, auditing, and reporting to keep your trust account compliant with all laws and regulations. Strict adherence to state legislation is a must.

Who is it for?

• Real estate agencies
• Project marketers
• Solicitors working on property projects

Property Shell Trust Accounting Module

Our Trust Accounting Module includes:

• Trust Ledger Accounts: Manage all your trust accounts efficiently.
• Trust Ledger Entries: Keep detailed records of all transactions.
• Bank Feed: Automatically import transactions from your bank.
• Bank Reconciliation: Perform monthly reconciliations.
• Import Bank Files: Easily import bank files for accurate record-keeping and reconciliations.
• Generate Trust Receipts

All-In-One Solution

In our effort to manage the end-to-end project marketing process, our latest release means any agency running a trust account needs one less solution in their tech stack. Property Shell offers an all-in-one sales, marketing, and project management software that simplifies workflows and makes it easier to have a single source of truth across marketing, sales, development, finance, and accounting teams.

Just as with the rest of Property Shell, our Trust Accounting feature is intuitive and easy to use. It is integrated with other payment features in Property Shell, providing a holistic view of deposits and commissions. Flexible permissions ensure that trust accounting can only be accessed by individuals with the right permissions, typically an accountant or the finance team.

How to Get Set Up with Trust Accounting or Find Out More

Contact your account manager to get trust accounting set up. Support and training are all-inclusive. However, like the rest of Property Shell, Trust Accounting is intuitive and super simple to begin using. Feel free to reach out to your Property Shell account manager to find out more.