Trust Accounting Compliance
Real estate trust accounting compliance — organised and audit-ready
Trust accounting is the area of real estate compliance most likely to result in licence action. REA Hub keeps your reconciliation records, monthly reports, and annual audit documentation in one structured, always-accessible place.
Start free 14-day trial →Trust accounting compliance features
Trust account mismanagement is the most common cause of real estate licence cancellation in Australia. REA Hub doesn't replace your property management software — it manages the compliance documentation around your trust account, so your records are complete and defensible.
Monthly reconciliation log
Record and date-stamp each monthly reconciliation. Attach your reconciliation report and flag any discrepancies with notes. Full audit trail per month.
Annual audit documentation
Upload and store your annual trust account audit report with the auditor's details and the date lodged with your state regulator.
Trust account register
Maintain a structured trust account register with all deposits and disbursements — organised by client and transaction for easy inspection.
Regulator deadline tracking
Track state-specific lodgement deadlines for trust account audits. Automated alerts before deadlines so late lodgement is never a risk.
Discrepancy documentation
When a discrepancy is identified, log it with the investigation, outcome, and resolution. Demonstrates active oversight to regulators.
Multi-account support
Manage compliance records for multiple trust accounts — sales, rental, and bond — separately within the same platform.
Trust accounting compliance — frequently asked questions
What are the trust accounting obligations for Australian real estate agencies?
Real estate agencies that hold money on behalf of clients — including rental income, sales deposits, and bond money — must maintain a trust account. Obligations vary by state but typically include: holding trust money in a dedicated trust account with an authorised deposit-taking institution, reconciling the account monthly, maintaining a trust account ledger per client, and having the account audited annually by an approved auditor.
How often must a real estate trust account be reconciled?
In most Australian states, real estate trust accounts must be reconciled at least monthly. The reconciliation must be documented and retained. In NSW, reconciliations must be performed within 5 days of the end of each month. Failure to reconcile is a serious compliance breach that can result in licence action.
What must a real estate trust account audit cover?
An annual trust account audit must be conducted by an approved auditor and covers: whether all trust money received was deposited promptly, whether reconciliations were performed, whether the ledger balances match the bank balance, whether trust money was disbursed correctly, and whether required records were maintained. The audit report must be lodged with the relevant regulator.
What happens if a real estate trust account is not audited?
Failure to have a trust account audited is a serious breach in every Australian state. Consequences can include disciplinary action against the licence holder, financial penalties, and mandatory repayment of any shortfalls from the regulator's statutory compensation scheme. In NSW, failure to lodge an audit within 3 months of year end can result in licence suspension.
Does REA Hub replace trust accounting software?
No. REA Hub is a compliance management platform — it manages the compliance records around trust accounting, including reconciliation documentation, audit reports, and statutory registers. For the accounting transactions themselves, agencies continue to use their existing property management software (such as PropertyMe, Console, or MRI). REA Hub and your PM software work alongside each other.