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| getting started | back to forums | back to Trust Accounting | ||||||||||
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| Cancelled Trust Account Cheque? 4 replies 4 voices |
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Kassandra Duvall
on Nov 16, 2010 11:39pm
Principal Gold Key Real Estate Gold Coast Queensland |
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Do we have to keep the Trust cheque if it is cancelled?? I have photocopied it for the file as proof of it’s existence. I then thought that best practice would be to shred it?? I have not had this before. |
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Michael Kilroy
on Nov 17, 2010 1:41am
Senior Property Manager Chevron Realty (formerly Mona Kennedy Realty) Gold Coast Queensland |
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Hi Kassandra, you should be guided by your auditors in this. We generally write the word “Cancelled” in bold letters across the front of the cheque and staple it into the cheque book to the corresponding butt. This way the auditor can see that the cheque is accounted for. A quick phone call to your auditors would be the best thing to do. |
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Kassandra Duvall
on Nov 17, 2010 4:30am
Principal Gold Key Real Estate Gold Coast Queensland |
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Thank you Michael. That is what I do with my checking account. I will do the same. |
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Margaret Fogarty
on Nov 17, 2010 5:59am
Principal DM Realty-- www.dmrealty.com.au Pimlico Townsville QLD |
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We do the same as Michael Margaret www.dmrealty.com.au
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Tammy Cleland
on Nov 17, 2010 9:21am
Property Manager Brock Harcourts Semaphore South Australia |
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We do the same as Michael and Margaret. Trust accounting, oh joy!! |
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