Real Estate Agent Accounting Services
Our hastings + co representatives have been working with prominent real estate agents for over thirty years, providing invaluable advice and offering cost-effective, yet specialised accounting solutions.
The real estate market in Australia and New Zealand is booming. In such a fast-paced environment, the potential for errors in accounting teams can increase.
Countless real estate professionals decide to outsource their accounting and bookkeeping tasks to a team of dedicated professionals in order to streamline their accounting systems, reduce operational costs, maximise efficiency, and minimise the risk of non-compliance.
What do we do?
Outsourced Trust Accounting
General Account Bookkeeping and Payroll
Outsourced Trust Accounting
Trust accounting in real estate can be a complicated business. Add to that the responsibilities and financial stress associated with managing large sums of money and dealing with contracts, and it can become a colossal task for real estate agents.
Trust accounting is heavily regulated in Australia and New Zealand and requires specialist knowledge of the unique set of laws that govern them. It’s crucial that real estate professionals seek specialised accounting services from experts with real industry experience, especially when their resources are stretched to capacity.
At hastings + co, our team of dedicated professionals specialise in remote access trust accounting for real estate agents across Australia and New Zealand wide. Our team has proven, high-level technical knowledge of real estate, as well as accounting and banking software specifically tailored to the industry.
Our virtual trust accounting real estate services empower our clients by providing technologically savvy solutions that work around their existing systems and processes.
Our Trust Accounting Software Experience
When you outsource to hastings + co, we will maximise your existing real estate accounting software as much as possible.
Our aim is to optimise your existing business practices in the most cost-efficient manner.
However, we can also upgrade your trust accounting software to optimise efficiency, if necessary. When we do recommend upgrading your software, we have adequate resources to provide full software training where necessary.
hastings + co ensures their fully qualified team is always up to date and highly trained across a broad range of speciality real estate software programs including PropertyTree, PropertyMe, Console, Cirrus8, Re-Leased, Vault RE, Box & Dice, REX, Xero, MYOB, Quickbooks, RP Data & Multi-Array.
Our real estate accounting services are customised to blend with your specific business needs. hastings + co’s strong training background and flexible working style will ensure that your team benefits from an efficient, supportive and collaborative working relationship.
When you outsource your Trust Accounting to hastings + co’s industry-educated specialists you can be confident that your team has the qualified support to deliver a seamless and professional service to all landlords, tenants, vendors and buyers.
This back-end support provides your office with the confidence to function without disruption if a team member takes leave or unexpectedly resigns.
General Account Bookkeeping And Payroll
hastings + co works closely with your accountant to provide an up-to-date and efficient general account bookkeeping service.
- General Bookkeeping
- Accounts payable and accounts receivable
- Weekly bank reconciliations
- Employee payroll
- Agent commissions
- Staff leave and other entitlements
- Work cover
- Child support payments
- Payroll tax deductions
- Single-touch payroll filing to the ATO
- Weekly creditor payments
- Franchise reporting (if required)
- Quarterly onsite meetings
- Monthly Zoom board meeting attendance (if required)
- Internal liaison with agent’s accountant or auditor
Whatever your needs, we can customise a tailored bookkeeping and payroll package to suit your unique requirements. Simply contact us today to learn more.
At hastings + co, we have worked with hundreds of real estate offices across Australia and New Zealand. We have a vast array of experience when it comes to trust account bookkeeping and have encountered a range of scenarios. In some situations, previous accountants or bookkeepers may have reconciled client accounts incorrectly or made errors. We can help assess your accounts and reconcile them swiftly.
Do you know if your trust account is compliant? Are you carrying any adjustments? Or perhaps your annual audit is just around the corner?
Reconcile your books with hastings + co
hastings + co can help you get back on track. We understand just how imperative accurate bookkeeping is and will take all the necessary steps to help get your accounts in order and meet your looming deadlines. If required, we can also assist with a real estate audit.
We can reconcile the previous months to date and provide you with a comprehensive report and a letter of recommendation. We will assist you with all the necessary support and documentation so that you can provide this to your auditor.
What people are saying about us
“We had some very thoughtful words shared with us last night I wanted to pass on! From one of our Investors, “Since changing to Ranges FN, this is the first full year of you having our properties under management and the first time in 27 years of owning our investment that the financial year statement is 100% correct! The biggest compliments to your accounts team!” Have a great weekend. Thanks for supporting us and providing excellent care to what you do.“
“I would like to take this opportunity, on behalf of our staff & management, to pass our heartfelt thanks & appreciation for your assistance with regard to engaging your services for our trust accounting. This could not have come at a better time for both the businesses. The professionalism, expertise & knowledge that has been demonstrated by both yourself & your team has ensured a very smooth transition & implementation.“
Tracy Temperton – Executive Assistant
Raywhite Taylor & Partners
“I just wanted to quickly reach out and just say what an amazing job our trust account manager does for our Property Management Department. She is quick and responsive.
There are times when some of the team are clueless as to how adjustments have occured, or just have general accounting questions and she goes above and beyond. She has never pushed back on any requests we have had. She has helped us grow as a property management team, teaching us tasks that we did not know Property Me could do.
She really is a team player and has helped us on so many levels.“
Corey Rotunno-Grant – Head of Property Management
Harcourts West Realty
“We are very happy with our Trust Account Manager and excited to have him look after all our accounts. No dramas on our end. Thank you for all your hard work to date. “
P. Di Natale
“Making the decision to outsource our trust account to hastings + co , it pleases me to say that it was definitely the best decision we ever made.“
“Just wanted to give a quick feedback that our trust account manger spotted something quite important that we missed to charge one of our landlords a management fee since 2021. It’s a human error. One of our property managers forgot to enter this fee in 2021 and your team spotted it today while he was helping to set up the new invoice handling fees on PT. I just wanted to thank him and pass you this positive news on his behalf. We really enjoy dealing with him.“
Raine & Horne Commercial
“We highly regard hastings + co, who completed both our trust accounting and payroll. hastings + co did a fantastic job in reviewing our systems not only as trust accountants but as they are experts in the programs, they suggested better procedures, which we often took on board. They are also up to date with current trust accounting regulations and procedures.”
Geraldton Property Team
“One of my employees passed this email below to me praising our trust account mananger. We can all reiterate how marvellous our time with hastings and co has been through the great work done by out trust account manager, and the people who replace them when they are on leave.“
Mairi Quinn – Licensee/Managing Director
“I had to take the time to email you because you need to know just how amazing our trust account manager is.
I’m sure it’s no secret at hastings + co that I’m high maintenance and that in general, we are a unique client, but I can honestly say as much as I loved and still loved working with our previous trust account manager, our new one is a gun. We have had ZERO issues with accounting from the minute she started and her efficiency and work ethic is like no other.”
Team Leader, Melbourne
“We are continually delighted at the outstanding feedback we receive from clients who work with Natalie. She is eagerly sought after for her technical knowledge, training techniques and communication style. Her customer service standards are second to none!
When complicated things need fixing fast, I want Natalie working for our customers and MRI.”
Heywood Property Management
“I just wanted to say a big thank you!! I have just been audited and the officer (Consumer Affairs – VIC) remarked how great and comprehensive our systems are.
I was told we are running the most compliant and ‘smart’ management firm this officer has seen”
Director & OIEC
Geraldton Property Team
“I just wanted to take a quick moment to thank hastings + co for everything they do for our team. I know that I alone set them countless tasks every day, and hastings + co gets them done within the hour every time. Our trust account manager is someone I know I can always count on to ask for help and advice without even being here in our office.
Best. Trust. Accountant. Ever.
Anyway, I just wanted to express my gratitude as she really does make my job a lot less stressful. Thank you!“
Amber Towndrow – Real Estate Agent
Ray White South Bank
“I just wanted to reach out and let you know how fantastic our trust account manager has been on our account. She is so efficient, diligent and generous with her time whenever we have a question. A breath of fresh air – I hope we have her forever!! Thanks so much!“
Alex Mees – Head of Department – Property Management
Harcourts West Realty
“Our trust account manager has been extremely wonderful. It has been a real pleasure working with him and now looking forward to working with him in the future. I have kept your team really busy with my account sales. You are wonderful Mohammad, thank you so much for all your assistance.“
Ray White Carnegie
“I just wanted to let you know we love working with Yianni, he’s doing a great job and is always so lovely to work with and talk to. He’s always so happy to help. Often in business we only hear the negatives so I wanted to pass on our gratitude for you guys and Yianni being part of our team.“
“Can I please just say how efficient your team is. My trust account manager always gets back to me/us so quickly and always helps us out. She deserves a big pat on her back! I just hope she knows how much we appreciate all of her help & I just wanted to pass that onto you as well.“
Senior Property Manager
Your Property Manager
“I would encourage any PM Department Manager or Principal to invite hastings + co in to their office for a Business Health Check. I highly recommend their service.”
Carolyn Wright – Cheltenham
Ready to optimise your accounting or get your books into shape?
Learn more about our services or get a tailored quote today.