Document ID: chunk:federal_register_of_legislation:F2023C00203:clause:6_36:p1
Version: federal_register_of_legislation:F2023C00203
Segment Type: clause
Provision Reference: sch 6 cl 36 (pt 1/2)
Character Range: 94441–96981

36  Cash books—paragraph 125(1)(c)
 (1) For the purposes of paragraph 125(1)(c), the detailed accounts of receipts and disbursements of trust money to be compiled by a manager must comply with the following requirements:
 (a) a cash receipts book must be kept in which the manager records the following information in respect of each receipt of trust money:
 (i) the date and reference number of the receipt;
 (ii) the name of the person from whom the money is received;
 (iii) the name of the body corporate or reference to which the transaction relates;
 (iv) brief particulars of the purpose of the receipt;
 (v) the amount of the receipt;
 (b) a cash payments book must be kept in which the manager records the following information in respect of each payment of trust money:
 (i) the date and reference number of the cheque or electronic transfer of funds by which the payment was made;
 (ii) the name of the payee;
 (iii) the body corporate's name or reference to which the transaction relates;
 (iv) brief particulars of the purpose of the payment;
 (v) the amount of the cheque or electronic transfer of funds.
 (2) However, a manager need not keep a cash receipts book or a cash payments book as required by subclause (1) if the manager uses a computer program to record the information referred to in that subclause in respect of each receipt or payment of trust money and the program:
 (a) requires input in each field of a data entry screen intended to receive information in respect of a receipt or payment so that all of the information referred to in subclause (1) is recorded in respect of each receipt and payment; and
 (b) is capable, at any time, of producing:
 (i) a report of the information in respect of receipts of trust money in the order in which they were received; and
 (ii) a report of the information in respect of payments of trust money in the order in which they were made.
 (3) A manager who uses a computer program as referred to in subclause (2) must ensure that:
 (a) at the end of each month, hard copies of each of the following reports are produced:
 (i) a report of the information in respect of receipts of trust money received during that month in the order in which they were received;
 (ii) a report of the information in respect of payments of trust money made during that month in the order in which they were made; and
 (b) those hard copies are kept as part of the manager's records.
 (4) The records of receipts and payments must be made by the manager in accordance with this clause in the