When handling trust accounts, it's recommended that you establish two separate accounts; one handling security deposit transactions and the other handling rents collected and bills paid. While this may prove difficult on some occasions, there are heavy advantages in doing so. Match the below terms to their defining advantage:

For each definition, select an option from the dropdown below it.

1)BETTER ACCURACY

2) IMPROVED PERFOMANCE TRACKING

3) MORE ACCURATE AUDIT TRAILS

For each definition, select an option from the dropdown below it Though managing separate The creation and maintenance Property managers can use trust accounts, you may be of trust accounts can markedly trusts to get a more accurate able to provide your clients reduce the chances of view of property performance more accurate reconciliation commingle funds, which can based on the activities reports at the end of each be a serious issue for trust maintained for each individual month, including detailed account audits. When using a client. Transactions that may accounts of all income, single trust account for your be disputed can more readily expenses, and account activity clients, it will be essential that be tracked down and verified you ensure it is properly by the property manager or reconciled. Through multiple their staff. Select an option trust accounts, you can reduce the chances of an audit being necessary, and should you be Select an option audited, it will make the process easier and more clear. Select an option