This workshop is suitable for bookkeepers new to trust account recording and anyone wanting a detailed understanding of the changes brought about by the Legal Profession Uniform General Rules 2015, which commenced 1 July 2015. It will also be useful for anyone who has varied their practising certificate to receive trust money and support staff responsible for processing or maintaining trust account transactions/records.
The following questions will be covered:
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Do you know how to record an EFT payment if it is banked in one month but not receipted until the next?
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Do you understand all the recording requirements for controlled money?
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Do you know the difference between controlled money and investment money?
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Do you know how to withdraw costs under rule 42 (four methods)?
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Are you still running a buffer account?
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Aggregating costs – what steps are involved?
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What are the details required in the cash payments book for payments by EFT?
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How much detail should the trust ledger carry?
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When should statements of account be forwarded to clients under rule 52(4)?