Software companies

As a software company, you may be considering or are already implementing changes to ensure your clients are compliant with trust account legislation.

Each State has different legislative requirements, and it can be difficult to navigate and understand the nuances and details of Queensland’s trust account framework.

Currently no accounting software is compliant with the record keeping requirements and trustees are struggling to manage their trust accounts effectively. This is an excellent opportunity in the marketplace and way to service the needs of your Queensland customers.

Other states are likely to follow suit with similar versions of statutory trusts already required in New South Wales and Western Australia. Following six independent government reviews recommending statutory trusts and the issue being discussed at a national level, it is only a matter of time before other jurisdictions follow.

How we can help

Building Trusts provides a range of support options to help you understand and ensure your software meets the trust account requirements.

We can deliver detailed workshops, provide a comprehensive legislative requirements package or specialist advice and compliance testing for your proposed solution.

Our services can be scaled to hourly, weekly or monthly depending on your business needs and how much and what type of support you require.

Workshops

Gain an even clearer understanding of the trust accounts and potential risks and troubleshooting so you can consider the best development approach and solution for your clients. Workshops can be delivered face to face or online depending on your business needs.

Legislative requirements package

The package includes a comprehensive outline and translation of the legislative requirements, notification and record keeping templates and detailed scenarios to test your solution against.

Specialist advice

Once off or ongoing access to a trust account expert to give you advice, model scenarios, assess your functionality requirements and develop an approach to integrate new processes.

Compliance testing

We will conduct a detailed analysis of your current and proposed future trust account solutions and review proposed changes before go-live to ensure that your solution is compliant.

Custom implementation support

Get hands on assistance and intelligent resources to support your business through change. We’ll tailor our support to your business needs – from training staff, creating new templates, updating existing processes to embedding new procedures for your staff to follow. One size doesn’t fit all, and we’re there to help with those curly questions that are specific to your organization and clients.

“Laura was engaged by the MYOB Advanced Construction team to provide consultation on the Trust Accounts framework, including the development of high-level legislative, record-keeping, and reporting requirements. Her performance in this role was nothing short of outstanding.

Laura excelled in clearly outlining these requirements, effectively communicating them to all involved stakeholders. She seamlessly collaborated with our internal consulting and software engineering teams, offering valuable support in the development and testing phases, ultimately ensuring the successful delivery of the solution to the market, and making my job much easier.

Notably, Laura possesses exceptional documentation and communication skills and a deep understanding of the subject matter, making her a true asset to any project or organisation. I wholeheartedly recommend Laura’s services to companies seeking expertise, dedication and a strong commitment to results.”

Nick Baskakov, Senior Business Analyst, MYOB.

Where should we start?

Contact us today

To line up a free 30 min consultation or send us an email outlining your needs.