Master trust accounting. Avoid breaches. Protect your business.
Important advice for law firms in Australia and New Zealand
Should your clients trust you with their trust funds?
With the Lawyers Trust Accounting Guidelines and Lawyers and Conveyancers Act Regulations 2008 in force, compliance with trust accounting obligations in Australia and New Zealand is not optional – it’s mandatory. Failure to comply can lead to audits, disciplinary action and reputational harm.
The good news? With the proper mechanisms in place, compliance is straightforward
At Jayva, we work with law firms across the APAC region to ensure their trust accounting systems and processes meet regulatory requirements while delivering peace of mind for their teams and clients.
Are you compliant with your regulatory obligations?
To help assess where your law office stands right now, ask yourself the following:
Regular reconciliation: Are your trust accounts being reconciled monthly, with three-way reconciliation matching your bank balance, client ledger and trust ledger?
Accurate record keeping: Do you have clear procedures in place to track all deposits, disbursements and balances for each client?
Segregation of funds: Are all trust monies kept separate from your operating or personal accounts?
Timely disbursements: Are trust monies being paid out without undue delay and in accordance with authorisations?
Proper documentation: Are your records, receipts and authorisations complete and stored in line with obligations?
Regular reviews: Are you internally reviewing your trust accounting practices to identify and fix potential gaps?
If you’re unsure about any of the above, now’s the time to act – before regulators come knocking.
How can Jayva help?
Our APAC team specialises in legal accounting and compliance support tailored to the Australian and New Zealand legal sector. Our services to help keep your trust accounting in shape include:
Trust account health check and accounts rescue: We’ll assess the health of your trust accounts, identify non-compliant routines and provide a roadmap for rectification.
Legal accounting training: Customised MYOB and Xero training, covering trust account demands and daily compliance using your accounting software integrated with LEAP.
Bookkeeping best practice consultancy: Hands-on advice and practical steps for accurate, compliant bookkeeping that makes you audit ready.
System review, data migration and tidy-up: Whether you're switching to LEAP or need to clean up legacy data, we ensure smooth system transition and proper financial alignment.
What's next?
Schedule a confidential consultation with our legal accounting expert trainers and consultants by calling +61 2790 85495 (Australia) or +64 9802 2158 (New Zealand), emailing info@jayvaglobal.com or visiting www.jayvaglobal.com/contact-us.
Thank you for your continued dedication to professional excellence. We’re here to support you in safeguarding your clients – and your licence – through reliable, compliant systems.