Residential Sales Trust Accounting Fundamentals

* People new to residential trust accounting * Receptionists or Sales Administrators looking for career progression or to provide backup support * Self-taught Trust Accountants seeking to fill knowledge gaps * Managers and OIECs who oversee Sales Trust Accounting

* Understand the requirements for opening & closing real estate trust accounts, audits and OIEC responsibilities * Explain the Sales Transaction lifecycle and the touch points with Trust Accounting * Confidently use Trust Accounting terminology * Know the purpose and use of Ledgers, receipts, payments & journals * Understand why and how to perform a bank reconciliation * Know the contents of the End of Month report and where concerns might be found * Understand the purpose of the Account Sale * Describe the purpose and processing of a stakeholder release, early release of deposit and Settlement * Deal confidently with discrepancies, reversals, dishonours and unclaimed monies

None.