Trust Accounting Courses

Important Dates

During April       

During April of each year, the law practice must give the Society written notice of the associates (including their names and addresses) who are authorised as at 31 March of that year – see regulation 33(3)9b):

  • To sign cheques drawn on a general trust account of the practice; or
  • Otherwise to effect, direct or give authority for the withdrawal of money from a general trust account of the practice.

31 May               

End of Combined Trust Account calculation period. See Section 53 of the Act.

14 June               

Last date on which to make a deposit to the Combined Trust Account or lodge a written Notice of Withholding.  See Section 53 of the Act.

30 June               

End of Financial Year. Appoint external examiner, if not already done so.  Complete Statement Regarding Receipt or Holding of Trust Money.  Arrange external examination of accounts and records if Statement completion determines applicable.

During July         

Furnish trust account statements unless exempted by Regulation 40(7).

31 August            

Last date on which to provide Statement Regarding Receipt or Holding of Trust Money to external examiner; or Statement A only, to Society.

31 October        

Last date on which the external examiner should submit their report to Society.

30 November    

End of Combined Trust Account calculation period.  See Section 53 of the Act.

14 December     

Last date on which to make a deposit to the Combined Trust Account or lodge a written Notice of Withholding.  See Section 53 of the Act.

Trust Accounting I

Course Information

This course is designed for practitioners and accounts staff who are new to trust accounting or who simply need to refresh their knowledge of trust accounting. The course consists of five modules covering:

Module One
- Trust accounts and the definition of trust money
- Significant cash transactions of $10,000 or more

Module Two
- Establishing a general trust account
- Trust records that are required to be kept (source documents: receipts, deposits and payments)

Module Three
- Trust records that are required to be kept (primary records: cash books, trust ledgers and transfer journals)
- Reconciliations

Module Four
- The withdrawal of legal costs
- Transit money
- Trust account statements

Module Five
- The reporting of irregularities
- What to do at the conclusion of a matter
- The combined trust account

- Miscellaneous items

Duration 90 mins (allow more time to complete exercises)

CPD Units: 1.5 Units in Practice Management / Business Skills*

Cost: $110.00

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Trust Accounting II

Course Information

This course is designed for practitioners and accounts staff who have completed Trust Accounting I or have knowledge of the subjects covered in Trust Accounting I.  The course consists of three modules covering:

Module One
- Fiduciary Duties and the Trust Account
- Supervision
- Authorities to Withdraw
- Billing and Potential Intermixing

Module Two
- Controlled Money
- Investments
- Power Money

Module Three
- Receiving Trust Money and Associated Risks
- When Things Go Wrong

Duration 80 mins

CPD Units: 1.3 Units in Practice Management / Business Skills*

Cost: $110.00


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Combined Trust Account

Course Information

Learn about the Legal Practitioners Combined Trust Account and what you are required to do to comply with the Legal Practitioners Act 1981 in relation to deposits for the periods ending 30 November and 31 May each year, which require your action by the time critical dates of 14 June and 14 December in each year.

Duration 50 mins

CPD Units: 0.8 Units in Practice Management / Business Skills*

Cost: $110.00

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On purchase of a course, you will receive a confirmation email including a link directly to the course content. You may also return to this page to access the content within 60 days of purchase.
* please note that a maximum of 5 CPD units of recorded content per CPD year can be claimed for MCPD compliance.

Rule 15 - Trust Accounting Refresher Course 

If you are required to complete the Rule 15 Refresher Course you can purchase all three above courses, and the required Assessment here.