Trust Accountant
What Does a Trust Accountant Do?
A Trust Accountant is a vital professional within the real estate and property management sector, tasked with maintaining and safeguarding trust account transactions. These accounts often hold client funds, and as such, Trust Accountants ensure that every transaction is conducted transparently and in compliance with industry standards and government regulations.
They manage the full spectrum of trust account operations—ranging from recording daily financial activity and preparing detailed statements to reconciling discrepancies and ensuring tax obligations are met. By ensuring funds are handled accurately and reports are prepared on time, they help build confidence between landlords, tenants, and management.
Trust Accountants are also key to helping agencies avoid financial mismanagement or compliance violations. Their attention to detail and deep understanding of real estate legislation make them indispensable to any firm handling client funds.
Key responsibilities
Download and balance trust account statements
Prepare landlord statements and process creditor payments
Manage accounts receivable and payable
Handle tenant and landlord reconciliations
Prepare receipts, expenditure statements, and rental adjustments
Oversee end-of-month rollovers and generate reports
Conduct cash flow analysis and manage arrear
Why Hire a Trust Accountant?
Hiring a qualified Trust Accountant can greatly reduce risk, improve financial transparency, and ensure seamless operations in real estate management. Their role not only supports compliance but also enables better decision-making through accurate financial reporting.