Trust Accounting Compliance for Australian Real Estate Agencies and Business Brokers

Keep track of trust accounts and ledgers directly within MantisProperty

No need for third party trust accounting software!

MantisProperty includes a fully functional trust accounting system specifically built for real estate and business sales plus trust accounting for commercial and residential leasing

Easily keep track of all money coming in and out of your trust accounts for each sales contract and/or tenancy and disburse funds at the click of a button

Reconcile Trust Accounts and permanently store archived reconciliation reports which can be accessed easily, at any time in case of an Audit

Trust Accounting in MantisProperty has been fine tuned to make record keeping and reporting a breeze!

Support for both sales and rental/leasing trust accounting
Set up unlimited trust accounts and ledgers without any restrictions or extra fees
Automatic tracking of transactions across sales contracts
Automatic tracking of transactions across leases for property managers
Extensive reporting and auditing facilities
Everything you need for trust accounting for offices
Built in invoicing to keep track of payments, pay invoices from trust accounts, etc.

State-by-State Trust Accounting Requirements

Trust accounting obligations for real estate and business broking agencies are set at state level, not nationally, and each state's rules differ on reconciliation frequency, record retention and reporting to the regulator. MantisProperty's trust accounting is designed to support the record keeping and reconciliation practices agencies need to meet these requirements wherever they operate.

State/Territory	Governing Legislation	Key Trust Accounting Requirement
New South Wales	Property and Stock Agents Act 2002	Monthly trust account reconciliations, with records retained for audit by NSW Fair Trading
Victoria	Estate Agents Act 1980	Monthly reconciliation of trust ledgers, independently audited each financial year
Queensland	Agents Financial Administration Act 2014	Monthly reconciliations and an annual audit report lodged with the Office of Fair Trading
Western Australia	Real Estate and Business Agents Act 1978	Monthly trust account reconciliations, subject to annual audit and inspection
South Australia	Land and Business (Sale and Conveyancing) Act 1994	Trust accounts reconciled monthly and audited annually by a registered auditor
Tasmania, ACT and Northern Territory	Respective state/territory agents legislation	Regular reconciliation and annual independent audit, consistent with the pattern set by the other states

Audit compliance: Whichever state your agency operates in, MantisProperty keeps a permanent, easily accessible archive of every reconciliation report, so when your annual audit comes around, or your regulator asks for records, everything is already in one place, in the format your auditor needs.

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