Trust Accounting Courses

The Society has three Trust Accounting courses available for both Members and Non-Members, which are delivered online and are eligible for CPD units in Practice Management/Business Skills. For more information on each of the courses, please click through the accordions below.

On purchase of any of the courses available below, 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.

Trust Accounting I

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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*please note that a maximum of 5 CPD units of recorded content per CPD year can be claimed for MCPD compliance.

Trust Accounting II

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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*please note that a maximum of 5 CPD units of recorded content per CPD year can be claimed for MCPD compliance.

Combined Trust Account

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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Click here to start course

*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 the package including all three courses below, and the required Assessment here.