HiRUM

Trust Accounting Software

Fast, accurate and compliant trust accounting software you can trust. Know your business is in the best hands!
cartoon depiction of the functions of trust accounting software

Your property is our business

HiRUM is renowned in the property management industry for our Trust Accounting software capabilities.

Not only does our system provide precision accounting and transparent record keeping, but our accounting wizards ensure lightning fast speed.

Built for those that need to keep accurate records to report to their owners i.e. Strata properties, Real Estate agents, those that manage holiday homes or simply let multiple properties.

Key trust accounting software features include

End of Month & Rollover Wizards make your job easier

Our simple to use wizards ensure accurate and fast end of month processing every time. Ensuring you are on your way and ready to go every month.

Strict compliance with statutory legislation

HiRUM software is fully compliant with all property management legislation both in Australia and in New Zealand.

Leading bank reconciliation function on the market today

Accurate 3 way balancing with cross checks to ensure compliance. Reconcile individual receipts or bulk deposits, your choice, your way.

Complete audit trail and log
reports

Our log reports keep track of all activities, ensuring complete security compliance and ability to track activities.

Transparent Developer

We expertly handle developer/rental guarantees, providing full auditability and transparency for all parties.

Fully integrated within PMS

Our Trust accounting software is inbuilt into our HiRUM PMS eliminating additional costs, third-party products or needless add-ons.

Flexible income pooling

We can handle pooled income in a variety of different ways, don’t be restricted by your software.

Easy to understand reports

Auditors often tell us how easy our reports are to follow and understand, which means you can too!

Scheduled Auto backups

Schedule your back-ups for a time that suits you, not when dictated by your software. Your time, your choice!

Security level access

Ensure the security of your information, restricting access to users, based on their role/requirements.

‘One Click’ batch reporting

Simply select the reports you wish to print with one click, saving you time.

Full bank journals

Track bank journals with ease

Why Choose HiRUM for your
Trust Accounting Software?

We make Trust Accounting easy

Renowned in the property management industry for comprehensive Trust Accounting software capabilities, HIRUM not only provided precision accounting and transparent record keeping but the accounting wizard ensures lighting-fast speed. 

Frequently Asked Questions About Trust Accounting Software

Trust accounting is a specific form of accounting that involves managing and tracking the funds held in trust on behalf of property owners and tenants. This accounting practice is critical in the real estate and property management industries, ensuring that all financial transactions related to property management are handled with integrity and transparency.

Take a read of ‘What Exactly Is Trust Accounting Anyway?’ to get a detailed insight into how it works.

Trust accounting software is a specialised type of financial management software designed to help businesses, particularly those in the property management and real estate sectors, manage and track funds that are held in trust for clients. It should include a range of features designed to ensure compliance with regulatory requirements, enhance operational efficiency, and deliver transparency to both the business and its clients.

Trust accounting software should streamline and secure the management of trust funds and adheres to all compliance regulations. The key functions you should look for include:

  • Compliance Management: Ensures all financial transactions comply with legal and industry-specific regulations. 
  • Easy Bank Reconciliations: Offers tools for reconciling bank statements with trust account records, ensuring accuracy and integrity of financial data.
  • Automated Audit Trail: Automatically records all transactions involving trust funds, including deposits, withdrawals, and transfers. 
  • Detailed Reporting: Generates comprehensive but easy to understand reports for both internal use and regulatory purposes. 
  • PMS Integration: Ensures a seamless approach to managing all of your properties.
  • Secure Access Controls: Protects sensitive financial data with robust security measures.

There are significant benefits to integrating trust accounting software into your property management solution including:

  • Reduced Errors: Automates complex calculations and transactions, minimising the risk of human error.
  • Time Savings: Streamlines trust account management processes, freeing up time for other business activities.
  • Regulatory Compliance: Keeps your business compliant with legal requirements, avoiding potential fines and legal issues.
  • Enhanced Transparency: Provides clients with clear, detailed accounts of their funds, building trust and confidence in your services.

HiRUM enables you to remain Trust Compliant because you can:

  • Report to your owners correctly – The PMC needs to show how they break up the amount they earn vs what the owners get. 
  • Set up your own commission structures on EVERYTHING, breaking each deduction down clearly on the owner statements.  
  • Have an audit log for each transaction, detailing what was changed and by whom. 
  • Track reversed or cancelled receipts
  • Track all refunds and bonds

HiRUM has several reports for auditors to cross check, ensuring all funds have been accurately dispersed. In addition, the detail we provide on all receipts (where there are different legislative requirements for every state) ensures trust accounting compliance.

 

Don't just take our word for it

Mango House Resort

“The support we have had from the friendly team at Hirum has been so valuable. After being thrown into the deep end, we have received outstanding, reliable and fabulous support from the HIRUM team. HIRUM has made our business run smoother and created such a seamless experience for bookings and business reporting. We are so grateful to be using HIRUM to make our everyday office lives so much more enjoyable.”

- Kellie

The Noosa Apartments

"Hirum have been awesome! Very glad we changed from RMS who appear to be cost effective until you don't understand something, (which aside from the Trust Accounting) is always complicated and then they charge you extra (a substantial hourly rate), to assist you! Be warned. Go Hirum!!!!."

- Colette

Ravensbourne Escape

"Ravensbourne Escape is a small boutique operator with 11 luxury houses set high in the Great Dividing Range in Southern Queensland High Country. HiRUM's team have always been knowledgeable and responsive to our needs and their attitude is second to none. We enjoy the product and hope to be customers for the long run."

- Rob

Oshen Apartments Yeppoon

“We have been using HiRUM for 5 years now and I have always said if you follow the daily reconcile banking steps you won't have too many issues, if any. I check the Cross Reference Report & Managers Summary regularly as this makes for a very simple EOM and EOM Roll. The most important thing is the support team. I am blown away by their professionalism and complete knowledge of HiRUM. Nothing is too much trouble. Great team!”

- Bill Stokje

Beachfront Apartments Trinity Beach

“We use HiRUM Property Management Software and HiSITE Channel Manager, which has a two way interface which updates our availability across all online booking sites. This prevents the risk of overbooking and cuts down our admin time dramatically…”

- Bradley

Ivory Palms Resort

“…We are soooo happy with HiRUM and it has made a huge difference to our business, even in only one month. Apart from your software being far superior, getting a response from your help-desk immediately or within the hour is wonderful….”

- Geoff