General trust Receipts Trust Receipts Trust trial balance • • • money Initiating record for withdrawal (cheque butts cashbook Reconciliation • • or cheque requisitions or EFT requisitions) Trust Payments statements • cashbook (bank & Deposit records • Trust Ledgers cashbook) statements • • ADI Trust Account Trust Transfer Journals • • Statement Trust Account authorisations • Bills of costs • Invoices • Correspondence • Controlled Written direction Controlled Money Controlled Money • • • Money Controlled money receipts Register made up of Accounts • Listing Initiating record for withdrawal Controlled Money • Trust Account Deposit records Movement records. • • statement ADI statements • Invoices • Correspondence • Bills of costs • Transit Money Copies of cheques Nil Nil • Settlement sheet • Written direction (if any) • Written Written direction Nil Nil • Direction Copies of cheques • Money Power Money Power of attorney or other power document Power Money Record Trust Account • • • Bank statements Register of Statement • • Initiating record for withdrawal Powers & • All supporting documents in relation to the Estates • dealings Investment of Written direction authorising the investment Register of Investments Trust Account • • • trust money Statement Initiating record for withdrawal • Bank statements • General trust account payments • cashbook General trust account receipts • cashbook Requirements: each receipt must be in duplicate and show (r 34 LPR): The date it is made and date of receiving the money (if different eg a transfer / DD & ADI informs – later) Amount of money received Form in which money was received Name of person from whom money was received Details clearly identifying name of client Matter description and reference Purpose for which money was received Name of law practice or Expression “trust account” “t/a” Name of person who made out receipt Number of receipt Receipt must be issued immediately upon receiving trust money (r 34(2) LPR)
General trust money • Receipts • Initiating record for withdrawal (cheque butts or cheque requisitions or EFT requisitions) • Deposit records • ADI statements • Trust Transfer Journals • Trust Account authorisations • Bills of costs • Invoices • Correspondence • Trust Receipts cashbook • Trust Payments cashbook • Trust Ledgers • Trust trial balance • Reconciliation statements (bank & cashbook) • Trust Account Statement Controlled Money • Written direction • Controlled money receipts • Initiating record for withdrawal • Deposit records • ADI statements • Invoices • Correspondence • Bills of costs • Controlled Money Register made up of Controlled Money Movement records. • Controlled Money Accounts Listing • Trust Account statement Transit Money • Copies of cheques • Settlement sheet • Written direction (if any) Nil Nil Written Direction Money • Written direction • Copies of cheques Nil Nil Power Money • Power of attorney or other power document • Bank statements • Initiating record for withdrawal • All supporting documents in relation to the dealings • Power Money Record • Register of Powers & Estates • Trust Account Statement Investment of trust money • Written direction authorising the investment • Initiating record for withdrawal • Bank statements • General trust account payments cashbook • General trust account receipts cashbook • Register of Investments • Trust Account Statement Requirements: each receipt must be in duplicate and show (r 34 LPR): The date it is made and date of receiving the money (if different – eg a transfer / DD & ADI informs later) Amount of money received Form in which money was received Name of person from whom money was received Details clearly identifying name of client Matter description and reference Purpose for which money was received Name of law practice Expression “trust account” or “t/a” Name of person who made out receipt Number of receipt Receipt must be issued immediately upon receiving trust money (r 34(2) LPR)