Trust Accounting, Nightmare Stories & More with Alicia McClurg
Peter Lohmann's Podcast
Navigating Trust Accounting in Property Management
This chapter explores the complexities and challenges of trust accounting within property management, focusing on mismanagement issues that can arise from self-management and third-party services. It emphasizes the importance of separation of duties to prevent fraud and highlights the impact of software limitations on effective accounting practices. Additionally, it discusses the critical need for accurate handling of security deposits and the role of regular audits to maintain financial integrity.
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