Trust Accounting, Nightmare Stories & More with Alicia McClurg
Peter Lohmann's Podcast
Mastering Trust Accounting in Property Management
This chapter explores the critical differences between trust accounting and traditional business accounting within property management. It emphasizes the importance of meticulous financial practices, maintaining separate accounts for owner funds, and the need for qualified personnel to manage these complexities. Highlighting common pitfalls and the necessity for thorough reconciliations, the chapter underlines the ethical responsibilities involved in handling client funds.
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