There are legitimate reasons to worry about your Trust Account. Compared to most businesses, Property Management companies have a much higher volume of funds flowing through their Bank Account. This means that any accounting errors are magnified.
When the State audits your account, any Trust Account shortages are ultimately your responsibility.
That means that a simple mistake, or in the worst case, out-right fraud, can cost your business Thousands of Dollars.
On top of that, Trust Account violations can lead to large fines from the State and possibly the suspension of your brokerage license.
The most important preventative step you can take is to have your Bank Account reconciled by an expert third party.
Kynetic Consulting’s goal is to have audits become simple, quick and clean instead of a threat to your business. Peace of mind is knowing that your Trust Account is correctly reconciled and that your business is protected.