HELPFUL TIPS FOR YOUR PSRA LICENCE RENEWAL
Reminder that 31 December is almost upon us – for a lot of estate agents, this is one of the two dates in the year where you will need to be able to produce a breakdown of your client bank account for your PSRA licence renewal.
Just a few pointers to keep the stress levels down!
- Be mindful of cut-off issues over the last days of the month – ensure that you record your transactions on your accounting system (or Acquaint) so that they match the actual bank dates
- Run your final 2020 bank reconciliation up to 31 December – and ensure it’s fully reconciled
- Check the bank account balance report looks accurate and correct any errors
- On your first day back in 2021 – run any back-up reports you may need for the breakdown. Export them and save down an Excel version – e.g. Deposit Account Transfers, Overseas Tax, Fees to Transfer, Aged Debtors.
- Keep a record of any other adjustments that may need to be made, e.g. cheques paid not yet cashed, cash/cheques received that have not yet been lodged to the bank, etc.
Producing a breakdown of your client bank account for your PSRA licence renewal, is one of the many ways Acquaint helps keep you compliant and reduces stress!
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