DEE REALTY SYSTEMS

http://www.geedee.com.au

GEEDEE REALTY SYSTEMS

TRUST ACCOUNTING AND PROPERTY MANAGEMENT

TRAINING HANDBOOK

RESIDENTIAL MODULE

GEEDEE REALTY SYSTEMS PTY LTD 801 Canning Highway, Applecross WA 6153 Telephone: (08) 9364 6677 Fax: (08) 9364 7433

Email: [email protected]

http://www.geedee.com.au/

FOREWORD

This training handbook has been written, in the main, to assist students who undertake the Diploma in Property (Real Estate) or one of the Property Management courses conducted by TAFE. It is hoped that this handbook, together with the Commercial Training Handbook, will be used as a reference guide by all users of GeeDee Realty Systems, so that they become aware of, and fully utilise, the many features available in the system. MODULE PURPOSE: The purpose of this module is to enable the participants to explain and demonstrate the application of real estate accounting packages. ASSESSMENT CRITERIA: Case studies and practical demonstration. COMPETENCY STANDARDS: 1. Prepare formats for preparation and delivery of financial reports. 2. Manage agency disbursements. GeeDee Support Team GeeDee Realty Systems April 2008


Email: [email protected] i

WELCOME

Welcome to the GeeDee Realty System and congratulations on your selection for this specialised Real Estate Trust Accounting and Property Management System. GeeDee Realty Systems is the leading developer of Microsoft® Windows® Trust Accounting and Property Management software in Western Australia. At GeeDee we specialise in providing feature packed, secure, reliable and easy to use software systems for the Real Estate Industry. We also have excellent in-built Integrity System Checks and Safe Guards to protect the Licensee from potential fraudulent behaviour. GeeDee Realty Systems is a proven system to handle all your residential property management, trust accounting, strata management, commercial management and property sales needs. At GeeDee Realty Systems we have simplified the administration side of property management for the real estate industry for both the technical and non-technical users for ease of use. The objective of this GeeDee Handbook as with all of the GeeDee guides, is to assist you with the use and correct operation of GeeDee Realty Systems. The purpose of this Training Handbook is to transfer this experience to you. At GeeDee Realty Systems we are always complimented on having one of the easiest to use, understand and time efficient systems available for real estate businesses today. Having a user friendly system, complimented by outstanding software support services is the driving philosophy of GeeDee Realty Systems. We hope you enjoy the GeeDee Realty System.

GEEDEE REALTY SYSTEMS PTY LTD GeeDee Software Copyright © 1984 - 2008

Real Estate Software by Real Estate Professionals All rights reserved

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© Copyright GeeDee Realty Systems PTY LTD 2008 - Unauthorised copying prohibited.

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TASK LIST FOR LEARNERS:

You should be able to perform the following tasks to successfully use the system and be deemed competent in computer accounting.

a. Accounting Reports for Sales and Property Management b. Enter receipts for purchasers including the investment of the deposit in an interest

bearing account, receipt the initial investment and deposit, forward deposit less the commission to the settlement agent and remit commission to the agency.

c. Add a new trust account for each sales deposit made together with appropriate details. d. Accounting Reports for Property Management e. Add new owners, properties and tenants. f. Print out the existing owner, tenant and property master reports. g. Enter receipts for owners, properties, and tenants including new tenants with a bond,

letting fee and stamp duty. h. Print out a daily banking and close the banking. i. Carry out a daily backup and restore from a daily backup. j. Make property disbursements for maintenance items. k. Print a Trust Account Trial Balance. l. Receive and pay out funds from a trust account. m. View trust account current and history transactions on the trust maintenance and

enquiry screen. n. Reverse a tenant receipt which is:

in current banking a dishonoured cheque a previous day’s receipt to wrong tenant.

o. Make a trust account payment to the Bond Administrator for a bond that has been receipted.

p. Transfer tenants’ bonds in REBA Trust Bank A/c to the REBA Bond Trust Bank A/c q. Transfer tenants’ bonds in REBA Tenancy Bond Trust Bank A/c to the REBA Trust

Bank A/c. r. Print a list of bonds, which have been lodged and deposited with the REBA Tenancy

Bond Trust Account. s. Complete a bond refund. t. Enter charges to be recovered from an owner. u. Hold Funds back from the owner at the end of the month. v. Make a cheque payment to an individual owner and generate a current statement. w. Set up Vendor Paid Advertising account x. Enter and print out Bank Reconciliation. y. Carry out a complete end of period procedure.


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TABLE OF CONTENTS

FOREWORD & WELCOME i - ii TASK LIST FOR LEARNERS: ___________________________________________ III

SECTION 1 INTRODUCTION________________________________ 1-1

1.1 CALENDAR CONVENTION _____________________________________1-1

1.2 TRUST ACCOUNTING _________________________________________1-2

1.2.1 What is trust money?___________________________________________1-2

1.2.2 What is trust accounting? _______________________________________1-2

1.2.3 Trust Account Types ___________________________________________1-3

1.2.4 Titling of trust accounts _________________________________________1-4

1.2.5 Receiving and depositing trust money _____________________________1-5

1.2.6 Trust records to be maintained ___________________________________1-6

1.2.7 Retention of Trust Records ______________________________________1-7

1.2.8 Why records are retained _______________________________________1-7

1.2.9 Payment of commission, fees and expenses ________________________1-7

1.2.10 Action to be taken in event of overdrawn trust account_________________1-8

1.3 COMPUTERISED TRUST ACCOUNTING __________________________1-8

1.3.1 Data entry ___________________________________________________1-9

1.3.2 Data processing_______________________________________________1-9

1.3.3 Data storage _________________________________________________1-9

1.3.4 Output generation _____________________________________________1-9

1.4 COMPUTERS AND SOFTWARE REQUIREMENTS _________________1-10

1.4.1 Computers versus manual systems ______________________________1-10

1.4.2 Financial models and decision-making ____________________________1-10

1.4.3 Rental situation ______________________________________________1-10

1.4.4 Sales and bond situations ______________________________________1-10

1.4.5 Operating systems____________________________________________1-10

1.5 SYSTEM OVERVIEW _________________________________________1-11

1.5.1 Installation procedures ________________________________________1-11

1.6 AN INTRODUCTION TO GEEDEE FOR WINDOWS _________________1-11

1.6.1 The Trust account ____________________________________________1-12

1.6.2 Sales – Trust accounting______________________________________1-12


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1.6.3 Banking ____________________________________________________1-12

1.6.4 Record maintenance __________________________________________1-13

1.6.5 Period end procedure _________________________________________1-13

1.6.6 Particular features of the system_________________________________1-13

1.6.6.1 Lookups on all codes and reference numbers ______________________1-13

1.6.6.2 Automatic letter generation _____________________________________1-13

1.6.6.3 Warnings upon payment of rent _________________________________1-14

1.6.6.4 Disbursement codes __________________________________________1-14

1.6.6.5 Change of ownership__________________________________________1-14

1.6.6.6 Integrity checks ______________________________________________1-15

1.6.6.7 Rent calculator_______________________________________________1-16

1.6.6.8 Mixed payments _____________________________________________1-16

1.6.6.9 Rapid backup and restore ______________________________________1-17

1.6.6.10 On-line processing____________________________________________1-17

1.6.6.11 Audit report generation ________________________________________1-17

1.6.6.12 Management fees as a percentage or a fixed amount ________________1-17

1.6.6.13 Rent and maintenance invoicing _________________________________1-17

1.6.6.14 Standard letterhead printing ____________________________________1-17

1.6.6.15 Special menu________________________________________________1-18

1.6.6.16 Water consumption calculations _________________________________1-18

1.6.6.17 Split payments to joint owners___________________________________1-18

1.6.6.18 Commercial and strata title properties_____________________________1-18

1.6.6.19 Maintenance of transaction history _______________________________1-19

1.6.6.20 Income summary report________________________________________1-19

1.6.6.21 GST on agent’s rent commissions, fees and charges_________________1-19

1.6.6.22 E-mailing a copy of your backup to GeeDee Support _________________1-20

1.6.6.23 Transaction reports ___________________________________________1-20

1.7 HARDWARE AND OPERATING SYSTEMS________________________1-20

1.7.1 ADSL and pcAnywhere ________________________________________1-20

1.7.2 Upgrading to Windows XP?_____________________________________1-21

1.8 STARTING GEEDEE FOR WINDOWS ____________________________1-21

1.8.1 Logging on to the system ______________________________________1-21

1.8.2 The GeeDee Desktop _________________________________________1-22

1.8.3 The pull-down menu system ____________________________________1-22

1.8.4 The Owner, Property, Tenant and Trust account buttons ______________1-23

1.8.5 The navigator bar ____________________________________________1-23


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1.8.6 The tab system (or notebook) ___________________________________1-24

1.8.7 GST _______________________________________________________1-25

1.8.8 Powerfind button _____________________________________________1-25

1.8.9 Cheque and receipt numbers cannot go backwards __________________1-25

1.8.10 Editable remittance slip ________________________________________1-26

1.8.11 New bank___________________________________________________1-26

1.9 SYSTEM SETUP _____________________________________________1-27

SECTION 2 PROPERTY MANAGEMENT PART 1 _______________ 2-1

2.1 ENTERING NEW OWNERS, PROPERTIES AND TENANTS ___________2-1

2.1.1 Owner ---- > Property ---- > Tenant ________________________________2-1

2.1.2 ABNs for residential owners _____________________________________2-2

2.2 ENTERING TENANT, PROPERTY AND OWNER RECEIPTS___________2-3

2.2.1 Tenant receipts _______________________________________________2-3

2.2.1.1 Tenant credits/accounts in advance and Ledger 32001 ________________2-4

2.2.1.2 Allocate credits button __________________________________________2-4

2.2.1.3 Amounts allocated to Other______________________________________2-5

2.2.1.4 Other information related to tenant receipts _________________________2-7

2.2.1.5 Direct payment receipts_________________________________________2-7

2.2.1.6 Receipts for odd amounts _______________________________________2-7

2.2.1.7 Tenant direct payments_________________________________________2-7

2.2.1.8 Unidentified deposits ___________________________________________2-8

2.2.2 Owner receipts _______________________________________________2-8

2.2.3 Property receipts ______________________________________________2-9

2.3 REVERSING RECEIPTS ________________________________________2-9

2.3.1 Reversing a receipt in the current banking __________________________2-9

2.3.2 Reversing a receipt from a previous banking _______________________2-10

2.3.3 Rent refund _________________________________________________2-11

2.4 DAILY BANKING_____________________________________________2-11

2.4.1 Daily banking not balanced _____________________________________2-12

2.5 TENANT ACCOUNTS _________________________________________2-12

2.6 TENANT WATER CONSUMPTION_______________________________2-14

2.7 TENANT STAMP DUTY _______________________________________2-15

2.8 BONDS ____________________________________________________2-15

2.8.1 Bonds deposited in a Bond trust account __________________________2-16

2.8.2 Bonds deposited with the Bond Administrator or the old system ________2-16


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2.9 BOND TRANSFERS - TO BOND T/A - RECEIVED ONLY BOX ________2-17

2.9.1 Commercial bonds____________________________________________2-17

SECTION 3 PROPERTY MANAGEMENT PART 2 _______________ 3-1

3.1 INDIVIDUAL OWNER PAYMENTS________________________________3-1

3.2 OWNER STATEMENTS ________________________________________3-2

3.2.1 Current statement _____________________________________________3-2

3.2.2 History statement______________________________________________3-2

3.2.3 Summary statement ___________________________________________3-2

3.3 RENT ARREARS AND OTHER ALERTS___________________________3-2

3.3.1 Rent arrears control____________________________________________3-3

3.3.2 Leases expiring, Inspections due, Authorities expiring and Rent reviews due3-3

3.3.3 Mail-merge and mailing labels____________________________________3-3

3.4 LETTERS ____________________________________________________3-4

3.4.1 Editing letters in GeeDee for Windows _____________________________3-5

3.5 NOTES, REMINDERS AND CHECK-LISTS _________________________3-5

3.5.1 Notes _______________________________________________________3-5

3.5.2 Reminders/Diary system ________________________________________3-5

3.5.3 Check-lists___________________________________________________3-5

3.6 WORK ORDERS AND CREDITORS_______________________________3-6

3.6.1 Work orders__________________________________________________3-6

3.6.1.1 To enter a new work order_______________________________________3-6

3.6.1.2 To modify an existing order ______________________________________3-6

3.6.1.3 To print an order ______________________________________________3-6

3.6.1.4 To cancel an order_____________________________________________3-7

3.6.2 Creditors ____________________________________________________3-7

3.6.2.1 Adding new creditors___________________________________________3-7

3.6.2.2 Adding Creditor accounts _______________________________________3-7

3.7 OWNER CHARGES____________________________________________3-9

3.8 END OF DAY PROCEDURE ____________________________________3-10

3.8.1 Daily backup ________________________________________________3-10

3.8.2 Restore ____________________________________________________3-11

SECTION 4 TRUST ACCOUNTING AND SALES ________________ 4-1

4.1 REVERSING AND REISSUING CHEQUES _________________________4-1

4.2 BANK STATEMENT RECONCILIATION ___________________________4-2

4.2.1 Correction journals ____________________________________________4-3


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4.3 THE TRUST ACCOUNT SYSTEM AND TRUST ACCOUNT LEDGERS ___4-3

4.4 SALES TRUST ACCOUNTING___________________________________4-5

4.4.1 New Sales trust ledgers_________________________________________4-5

4.5 SALE DETAILS _______________________________________________4-6

4.5.1 Dishonoured cheques (Sales deposits)_____________________________4-8

4.6 VENDOR PAID EXPENSES _____________________________________4-9

4.6.1 Vendor advertising receipts______________________________________4-9

4.6.2 Vendor expense reports _______________________________________4-10

4.7 INTEREST BEARING DEPOSITS________________________________4-11

4.8 TRUST ACCOUNT REPORTS __________________________________4-11

4.9 PERIOD END PROCESSING ___________________________________4-12

4.9.1 Owner processing ____________________________________________4-13

4.9.2 Fees and electronic payments __________________________________4-13

4.9.3 End of month audit reporting requirements _________________________4-14

SECTION 5 TRUST ACCOUNT AUDITS_______________________ 5-1

5.1.1 Annual duties of an agent regarding trust account audits _______________5-1

5.1.2 Appointing an auditor___________________________________________5-1

5.1.3 Responsibilities to the auditor ____________________________________5-1

5.1.4 Duties of an auditor ____________________________________________5-2

5.1.5 How to respond to an auditor’s recommendations ____________________5-3

5.1.6 Changing an auditor ___________________________________________5-3

5.2 CLOSING A REAL ESTATE AGENCY_____________________________5-3

5.3 UNCLAIMED TRUST MONIES ___________________________________5-4

SECTION 6 PREVENTING THEFT AND FRAUD ________________ 6-1

6.1 INDICATORS OF THEFT AND FRAUD ____________________________6-1

6.2 COMPUTER SYSTEMS_________________________________________6-2

6.2.1 Areas to watch: _______________________________________________6-2

6.2.2 Main problems to emerge from some computer based systems__________6-2

6.2.3 Examples of internal controls ____________________________________6-3

6.3 BANK RECONCILIATIONS______________________________________6-3

6.3.1 Transfer journal _______________________________________________6-3

6.3.2 Receipt books ________________________________________________6-3

6.3.3 Agency management___________________________________________6-4

6.3.4 Cash payments or cheque payments ______________________________6-4

6.3.5 Trust account management______________________________________6-4


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6.4 FRAUD OR THEFT - PROCEDURE _______________________________6-5

SECTION 7 PRACTICAL EXERCISES ________________________ 7-1

7.1 NEW OWNER, PROPERTY AND TENANT _________________________7-1

7.2 TENANT RECEIPTS ___________________________________________7-1

7.3 OWNER RECEIPTS____________________________________________7-1

7.4 PROPERTY RECEIPTS_________________________________________7-2

7.5 REVERSING RECEIPTS ________________________________________7-2

7.6 DAILY BANKING______________________________________________7-2

7.7 TENANT ACCOUNTS __________________________________________7-2

7.8 TENANT WATER CONSUMPTION________________________________7-2

7.9 TENANT STAMP DUTY ________________________________________7-3

7.10 TENANCY BONDS ____________________________________________7-3

7.11 OWNER STATEMENTS ________________________________________7-3

7.12 RENT ARREARS AND OTHER ALERTS___________________________7-3

7.13 REMINDERS AND CHECK-LISTS ________________________________7-3

7.14 WORK ORDERS AND CREDITORS_______________________________7-3

7.15 OWNER CHARGES____________________________________________7-4

7.16 END OF DAY PROCEDURE _____________________________________7-4

7.17 REVERSING/REISSUING CHEQUES______________________________7-4

7.18 BANK RECONCILIATION_______________________________________7-4

7.18.1 RESPONSIBILITIES OF A TRUST ACCOUNT MANAGER _____________7-4

7.19 SALES TRUST ACCOUNTING___________________________________7-4

7.20 SALES DETAILS AND VENDOR PAID ADVERTISING________________7-5

7.21 PERIOD END PROCESSING ____________________________________7-5

SECTION 8 ASSOCIATED SAMPLE DOCUMENTATION _________ 8-1

8.1 STATUTORY AUDIT REPORTS__________________________________8-1

8.2 OTHER DOCUMENTS__________________________________________8-1


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SECTION 1 INTRODUCTION

1.1 CALENDAR CONVENTION

It is most important that everyone who uses, or is responsible for the operation of the GeeDee Realty Systems PTY LTD Property Management and Trust Accounting System, clearly understands this system’s important calendar convention. The GeeDee System uses two calendars: the Gregorian calendar and the GeeDee calendar. We all know the Gregorian calendar which is divided into 12 segments we call months. These 12 months have a set number of days ranging from 28 to 31. They run sequentially from 1 to 12 and then start again at 1 at the beginning of each year. The GeeDee calendar also has 12 segments, but these are known as periods. Although these periods are given the same name as the months, they have no set number of days. The number of days in a period is determined by each individual real estate agency, based on its requirements and convenience. (Convenience means taking into account who is on holidays, who is away sick, public holidays, etc.) The periods are numbered sequentially, but unlike months they are not reset back to 1 at the beginning of a year. A period can involve transactions which are recorded in just the one month (1 - 31 January, which would be known as the January period); over two months (31 December – 31 January, which would also be known as the January period); and over 3 months (31 December – 2 February, which would also be known as the January period). A period could cover from 4 - 25 February, a matter of only three weeks. There are two very important accounting functions that occur every month and every period. These functions are controlled by the two calendars referred to previously. The first function, and the one that agents would consider to be the most important, is period end processing. This process, which is normally carried out towards the end of a month, can in fact be undertaken on any day of a month. This period end processing involves the payments to owners, the payment of your fees, (I said it was the most important), and the roll-over of your data ready for the next period. The second function, and the one that the REBA Board and your auditor consider to be the most important, is the printing of your end of month audit reports. These detailed reports substantiate the fact that your trust account was in balance as at the end of the month, which is a requirement under the REBA Act. Under the Act, the end of the month literally means midnight on the last day of the month. These two functions produce two separate sets of documents: the end of period documents and the end of month audit documents. These documents must be filed separately, otherwise confusion will reign. It is most important for everyone to understand the calendar convention so that they can clearly distinguish between the end of period processing (sometimes referred to as end of month owner processing), and the end of month audit report processing. Note: Every transaction that is entered in the Geedee System contains the initials of the operator, the date and time of the entry and the current period number.


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1.2 TRUST ACCOUNTING

1.2.1 What is trust money?

Trust money is money that is received or held by an agent or any member of an agent’s staff on behalf of another person in relation to a real estate or business sales transaction or property management transaction. Deposits on sales, tenancy bonds, rents and pre-paid advertising are all examples of trust money. REBA requires that money received by a licensed agent in the course of strata management work should be paid into a trust account. Money held on behalf of property owners for variable outgoings (eg. repairs and maintenance funds) should also be held in a trust account. Money received in the course of other businesses conducted by an agent is not money received in the course of acting as an agent and is not considered to be trust money under the Act. Such money does not therefore fall within the trust accounting requirements of the Act. Funds of this type, however, may be included as part of an agent’s trust account where it is best practice to do so. REBA strongly recommends that if an agent has any doubts about how to treat any money, they should err on the side of caution and treat it as trust money. It is extremely important to have a thorough understanding of exactly what constitutes trust money. Under no circumstances can trust money be accounted for in conjunction with general agency funds or personal funds. An agent’s fiduciary responsibilities in relation to trust account management are very high. It is essential to remember that the trust account money belongs to other people. The removal of the money from the trust account for a reason other than a lawful and appropriate purpose is a very serious matter. Trust funds must be kept separate from the agent’s general business funds at all times. A separate set of accounting records must be kept for each trust account. Refer: Real Estate and Business Agents Act 1978 section 67

1.2.2 What is trust accounting?

Trust accounting is the general term used to cover the accounting records and practices required under the Act to enable agents to properly account for trust money in their possession. Every agent who holds a current Triennial Certificate shall maintain one or more trust accounts. All trust money must be held in a trust account in the agent’s name in a prescribed financial institution. Prescribed financial institutions include all banks, permanent building societies and credit unions. Refer: Real Estate and Business Agents Act 1978 section 68


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Special requirements regarding the control of trust money Agents have a significant position of trust within the community. They also hold large sums of clients’ money. The trust money accounting system aims to ensure that all trust money held by agents can be accurately accounted for at all times. Trust account and auditing requirements increase public confidence in the services of agents. Interest on trust accounts Financial institutions which hold agents’ general trust accounts are required under the Act to pay a portion of the interest on these funds, as prescribed by the Act, to REBA. The interest earned on trust accounts funds REBA’s services including education, advice, conciliation and investigations of real estate issues for industry members and consumers. In the case of tenancy bond trust accounts, financial institutions which hold these accounts are required under the Residential Tenancies Act 1987 to pay the interest on the funds to the Rental Accommodation Fund administered by the Bond Administrator at the Department of Consumer and Employment Protection. Interest earned assists in the administration of the Residential Tenancies Act 1987 and in providing educational or advisory services to tenants.

1.2.3 Trust Account Types

General Trust Accounts The Act requires that a licensed agent holding a current Triennial Certificate maintain one or more trust accounts. All monies held for a person in relation to a real estate or business transaction, such as sales, property management and strata management, must be paid into a specially titled REBA Trust Account. It should be noted that variable outgoings accounts are trust accounts and are required to be treated as such. If agents hold tenancy bonds they must be kept in a separate Tenancy Bond Trust Account. Therefore, agents who handle sales, as well as maintain a rent roll and hold tenancy bonds are required to have a minimum of 2 trust accounts (i.e. General Trust Account and REBA Bond Trust Account). Agents may choose to open separate trust accounts for example one for Sales and one for Rentals. However, multiple trust accounts may increase bank fees, audit fees and additional administrative overheads and may lead to a greater potential for errors. REBA Tenancy Bond Trust Accounts The Residential Tenancies Act 1987 has specific requirements concerning the payment of tenancy bonds into trust accounts. Under clause 2 of Part A of Schedule 1, to the Residential Tenancies Act 1987, a tenancy bond received by an agent must be paid into a specially titled REBA Tenancy Bond Trust Account or deposited with the Bond Administrator, at the Department of Consumer and Employment Protection, as soon as practicable after the agent’s receipt of the bond. All audit and accounting requirements of the Act and the Regulations apply to trust accounts opened under the Residential Tenancies Act 1987. Refer: Residential Tenancies Act 1987 Schedule 1Real Estate and Business Agents Act 1978 section 68


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Interest Bearing Trust Accounts Section 68A(1) of the Act provides that a person may request that money paid by that person in respect of a transaction be deposited to the credit of a separate interest bearing trust account if the following prescribed requirements are met:

• the deposit exceeds $20,000; or • the transaction will not be settled within 60 days.

Interest earned on interest bearing trust accounts is not payable to REBA but to the person requesting the account. Requests from buyers to open an interest bearing trust account must be in writing and agents are obliged to comply with such requests. The request must be kept by the agent and be made available to the agent’s auditor.

1.2.4 Titling of trust accounts

The titling of trust accounts enables an easy identification of real estate trust accounts for agents, auditors, financial institutions and REBA. Examples of the titling of various categories of trust accounts are provided below. Titling of General Trust Accounts (Eg. Sales, Rentals) Agents are required to include the following information in the title of a General Trust Account:

• business and entity name as recorded on the Triennial Certificate. • REBA TRUST A/C (the word ‘Account’ can be abbreviated or in full). • “TC” followed by Triennial Certificate number (up to five digits).

Example GeeDee Realty Pty Ltd (ACN 987666789) T/A ABC Real Estate REBA TRUST A/C TC 98766 When there is more than one trust account (eg. Sales, Rentals), the account identifier should appear after the words REBA TRUST A/C. Examples GeeDee Realty Pty Ltd (ACN 987666789) T/A ABC Real Estate REBA TRUST A/C Sales TC 98766 GeeDee Realty Pty Ltd (ACN 22930) T/A ABC Real Estate REBA TRUST A/C Rentals TC 98766


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Titling of Interest Bearing Trust Accounts Agents are required to include the following information in the titling of an interest bearing trust account:

• business and entity name as recorded on the Triennial Certificate in trust for the buyer making the request; • REBA TRUST A/C - IB; and • “TC” followed by the Triennial Certificate number (up to five digits).

Example GeeDee Realty Pty Ltd (ACN 987666789) T/A ABC Real Estate in trust for Graham Darcy REBA TRUST A/C - IB TC 98766

Quotation of Tax File Number (TFN) When opening an interest bearing account in trust for a client, the client’s tax file number should be recorded to avoid tax being withheld. Titling of a Tenancy Bond Trust Account The Tenancy Bond Trust Account must be a separate account. Agents are required to include the following information when titling Tenancy Bond Trust Accounts:

• entity name and business name as recorded on the Triennial Certificate; • REBA TENANCY BOND TRUST A/C; and • “TC” followed by the Triennial Certificate number.

Example GeeDee Realty Pty Ltd (ACN 987666789) T/A ABC Real Estate REBA TENANCY BOND TRUST A/C TC 98766 Private landlords are also required to open a Tenancy Bond Account in the names of the owner(s) and the tenant(s) titled TENANCY BOND A/C which should appear after the name(s) of the tenant(s). Example E Presley (Owner) and P Keating (Tenant) TENANCY BOND A/C

1.2.5 Receiving and depositing trust money

All trust money must be deposited in a trust account in an approved financial institution as soon as is practicable after it is received. Tenancy bonds must be deposited with either the bond administrator or an approved financial institution as soon as is practicable after the agent’s receipt of the bond. Refer: Real Estate and Business Agents Act 1978 section 68(1) Residential Tenancies Act 1987, Schedule 1


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Opening, closing and amending trust accounts Whenever a trust account is opened, closed or amended, an agent must advise REBA in writing as soon as practicable. The notification should provide the name and number of the trust account and the name and address of the prescribed financial institution with which the trust account is maintained. The date on which the change was made should also be included. The notification requirement applies to general trust accounts, as well as any tenancy bond trust accounts established. REBA does not need to be advised about the opening, closing or amending of interest bearing trust accounts. Refer: Real Estate and Business Agents Act 1978 section 68C

1.2.6 Trust records to be maintained

It is essential that hard copies of the following records can be produced at the request of the agent’s auditor or a REBA inspector. Trust documents and records that must be maintained include:

• a record of money received for or on behalf of any other person; • duplicates of every completed trust account deposit form; • trust account journals; • trust ledgers; • trust cheque books register; • records of trust money payments; • statement of trust money; • register of securities; • trust account reconciliation statements; and • any other books, accounts or records kept by an agent relating to trust money.

It is strongly recommended that daily electronic copies of computer trust records are kept offsite. This measure will ensure that you have access to the records in the event of error, falsification of records by an employee or physical damage to the system. Refer: Real Estate and Business Agents Act 1978 section 77(1)


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1.2.7 Retention of Trust Records

When an agent receives money for or on behalf of any other person, an agent must keep a record of the money received. All trust records and documents are required to be retained for a minimum period of 6 years from the date on which the money was received. In the case where an agent acts as trustee for superannuation fund records must be maintained for a minimum period of 10 years. Refer: Real Estate and Business Agents Act 1978 section 69(1)(b) and regulation 6H

1.2.8 Why records are retained

Documents and records enable the tracking of trust money held by an agent at any time, to verify that the money has been dealt with as required under the Act and the Regulations. The verification takes the form of an annual audit of the records required. As well as the annual audit, REBA may order an inspection of trust account records or an interim audit of an agent’s trust accounts. An audit is an examination of the accounts held by an agent by an independent person. Unless REBA approves otherwise, the audit must be conducted by a registered company auditor. An agent must maintain all documents and records relating to a trust account in a manner that enables them to be conveniently and properly audited by the agency’s auditor. Refer: Real Estate and Business Agents Act 1978 section 68(6)

1.2.9 Payment of commission, fees and expenses

In relation to a sales transaction, the commission can only be drawn after settlement of the property, or where the failure to settle is the fault of the agent’s principal (the seller). In addition, an agent is only entitled to a fee if all of the following requirements have been met:

• the agent is licensed and held a current Triennial Certificate when the services were provided [section 60(1)(a)];

• the agent has a valid appointment to act in writing signed by the person for whom the services are being provided [section 60(1)(b)];

• the appointment to act complies with the requirements of section 60(2) and regulation 6BA; and • the client is provided with a true copy of the appointment to act immediately after they sign [section 60(2)(c)].

If all of the above requirements have not been met, then an agent can only obtain the commission if they have the seller’s authority to do so. If the agent does not have the seller’s authority, then the dispute is a civil matter between the parties.


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When an agent is requested to transfer the buyer’s deposit to the settlement agent/solicitor, the agent generally retains a portion of the deposit to cover the commission payable and other approved costs. The agent may only retain the money if the appointment signed by the seller allows the agent to deduct commission and approved expenses from the deposit. The portion of the deposit that comprises the agent’s fee should not be paid out from the trust account until settlement has taken place. Refer: Real Estate and Business Agents Act 1978 section 60, section 61.

1.2.10 Action to be taken in event of overdrawn trust account

The Act requires financial institutions to inform REBA whenever a trust account is overdrawn. The Act also requires an agent to notify REBA immediately on becoming aware that a trust account is overdrawn, regardless of the amount of the overdraw. The notification must include the date on which the overdraw occurred, the amount involved, the reason it occurred and full details of the corrective action being taken. “Principles of Trust Account Practice”. Refer: Real Estate and Business Agents Act 1978 section 68C(3)

1.3 COMPUTERISED TRUST ACCOUNTING

The requirements of the Act and the Regulations apply to all trust accounting systems. It is important that before a contract to purchase or lease a Trust Accounting software package is entered into, that it is confirmed that the software is capable of producing trust records that comply with the requirements of the Act and the Regulations as promulgated under Western Australian legislation. If an agent is not familiar with computerised systems, and is contemplating the purchase of a system, the appraisal and selection of the computerised system should be discussed with the agent’s auditor. Although in many agencies the day to day upkeep of trust account records is delegated to office staff, the person in bona fide control of the agency is held responsible under the Act for all trust account records. For this reason, it is essential that the person in bona fide control of the agency is fully conversant with the computer software package installed. Full use should be made of the checks and controls that are integrated into the computerised system. REBA suggests systems that will automatically generate a daily report so that records are monitored on a daily basis for discrepancies and errors. The person in bona fide control of the agency should personally check these daily reports and immediately address any problems.


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1.3.1 Data entry

The benefit of a computerised system is that the data is entered once only and stored in the computer storage devices. Entry can be made either manually, through the keyboard and mouse operations, or automatically, if data is in machine-readable form, by way of a file or on-line input via a modem. Data can be:

• Stored on the 'hard drive' inside the computer and then copied onto a floppy or zip disk, this should be stored off site for safe keeping as a backup.

• Retrieved and displayed visually on the computer screen or a 'hard copy' can be printed by the on-line printer.

• Produced in a variety of business reports which can be stored for reference or audit purposes.

Computers have revolutionised accounting in that it is now extremely quick, relevant and informative. It has enhanced business recording systems and introduced other sub-systems or sub-routines, which can produce a full range of information with a single click of the mouse.

1.3.2 Data processing

This is the manipulation of records and data stored in an electronic filing system for everything from customer records to inventories. It can be sorted into any form desired by the user. The database can be used to count, calculate and summarise information into reports which can be organised and analysed to get the total story into a printed or visual form.

1.3.3 Data storage

The data to be used is stored on the computer’s hard disk. It is always wise to keep a copy of the data on a separate floppy or zip disk, called the 'backup', in case the computer’s data is damaged or destroyed accidentally.

1.3.4 Output generation

Output from the computer can be gained by simply viewing it on the screen for quick reference, or a hard copy may be printed for analysis or as a record for the future. The output can also be transferred electronically via a modem over a telephone line.


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1.4 COMPUTERS AND SOFTWARE REQUIREMENTS

You should: • Look at your needs for computers and associated hardware. • Test the software (program) and check on the suitability and reliability with current users

of the proposed system.

1.4.1 Computers versus manual systems

You will see from the following that a source document is still used to input data in a manual and a computerised system. It must also be processed to obtain an output. However, note that although the source document is used as input, the processing and storage of data is much different. The manual output is obtained by slowly gathering information from a number of books and various documents, whereas, the computerised method is instantaneous and on call at any time.

PROCESS MANUAL COMPUTERISED Input Source documents Source documents Processing Journals and ledgers Data processing and storage Output Manual reports Visual on-screen or printed reports

1.4.2 Financial models and decision-making

A single entry on the keyboard should result in a number of entries being made, all at the same time. By giving instructions to the computer to issue a printed receipt, the program should also enter data simultaneously to the following areas:

1.4.3 Rental situation

• Update or credit the owner’s ledger account by recording the receipt. • Record the payment on the tenant’s record file by updating the Paid to date field. • Update or debit the cash at bank account. • Make provision for the agent’s management fees and charges to be earmarked for

collection at month’s end. This does not transfer the commission, but records the fact that the commission will be deducted from the current balance.

1.4.4 Sales and bond situations

• Updates the cash at bank. • Updates the client on whose behalf the funds are held and money paid out.

1.4.5 Operating systems

Most trust accounting packages are written in a 32-bit Windows language for use in the Windows operating systems (95/98/2000/ME/XP/NT).


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1.5 SYSTEM OVERVIEW

Real estate management and trust accounting systems are required to cater for: • Landlords • Properties • Tenants • Bonds • Sales • Trust accounting

Other facilities that would be beneficial if used in conjunction with a trust accounting system are:

• An integrated word processor for producing letters. • Database to select, organise and group information to create reports and to print

information in different ways for specific purposes. • Communication module, used through a modem, to connect to on-line information

services to exchange information with other computers. • General or business accounting module to record the non-trust transactions of the

agency.

1.5.1 Installation procedures

Installation instructions and procedures for the GeeDee Realty System are provided with the software on a CD-ROM as well as directly from the internet @ http://www.geedee.com.au/.

1.6 AN INTRODUCTION TO GEEDEE FOR WINDOWS

The GeeDee Realty System is a comprehensive ‘Windows based’ system written in a modern 32-bit Windows language. Simple mouse selections display all relevant information and achieve complex operations. They eliminate the need for difficult to remember personalised codes and long training periods to grasp individual functions. Instant search routines make it simple to find tenants, owners, etc. without reference to complicated code numbers. The system is a complete management and documentation entity. Extra clerical work or facilities outside the system are unnecessary, e.g. typing letters, ledgers, files, calculators and records. The system handles the issue of receipts, cheques, invoices, statements and electronic banking transactions. A job analysis revealed that property management and trust accounting comprise of four major entities: the owner, the property, the tenant and the trust account ledgers. The GeeDee Realty System is designed to administer these entities.


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1.6.1 The Trust account

Probably the most consequential aspect of this issue is the overall financial management. The agent is responsible for the collection, control and disbursement of trust funds relative to property sales and property management. Trust funds are controlled by the operation of a Trust account in which all relevant accounts are updated as transactions are effected. A trial balance, individual ledger accounts and audit trail reports can be displayed or printed by simply clicking on the relevant button. In a manual system the reconciling of the Trust account with the Trust bank account can be a frustrating and tedious exercise. This reconciliation procedure is automated by this system. The cheque numbers and deposit dates, as recorded on the bank statement, are tagged on the computer screen using the mouse. When reconciled a printed copy of the balanced Reconciliation statement is produced. Note that this report should be read and signed by the licensee.

1.6.2 Sales – Trust accounting

The Trust account system that is used for property management also handles all aspects of sales trust accounting, thus negating the need to operate two trust bank accounts. Daily bank deposit slips (original and duplicate) are produced from data that has been entered during receipting. An easy to use, full bank reconciliation system ensures that the trust account is readily balanced and maintained for audit purposes. Page balance protection ensures that the operator cannot continue until the account has been reconciled.

1.6.3 Banking

The practice of maintaining multiple trust accounts can be considered a practice that evolved before computerised accounting systems and should be avoided at all costs. The GeeDee Realty System is specifically designed for use with one trust bank account and one bond trust account. The reasons for this are:

• Lack of confusion. It means that there is only one set of cheques and only one deposit book.

• Computer printed cheques can stay in a printer and there is no excuse for handwriting a cheque.

• Only one set of statements to collect and reconcile. • Only one set of accounts to audit.

Reconciliation of the account can be carried out as soon as the statement is received. Management may believe that some specialist staff should do it, which can result in delays and postponements until the systems become an enormous mess. It is good policy to have an independent controller, who may check the printouts periodically. The more regularly and frequently reconciliations are done, the sooner errors are found and can be corrected. With the advent of on-line banking software these reconciliations are now normally performed daily.


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1.6.4 Record maintenance

As well as the recording of the property management and trust account activities there is a need to have readily accessible supporting information. This maintains the required level of operational efficiency.

1.6.5 Period end procedure

This involves the monthly pay out to landlords, together with the balancing of all accounts and the production of the relevant reports, tax invoices and statements. This is a very simple process which only involves the sequential selection of the buttons contained in the Period end processing screen. This is a separate program that is accessed from the Period end icon on the Windows desktop.

1.6.6 Particular features of the system

1.6.6.1 Lookups on all codes and reference numbers

It is not necessary to memorise codes for finding a tenant, owner, property or trust account. Instant access is available via the Search function on either a name or an address. There is no need to refer to printed lists.

1.6.6.2 Automatic letter generation

From within the system, the user can automatically generate standard letters to tenants, landlords, vendors or purchasers on any subject matter related to property management or sales. These sent letters are stored in the database and can be viewed or reprinted at any time. When printing letters the number of copies will always default to 1. When printing documents such as breaches or terminations the default number will be 2. These two default settings can be increased or decreased at the time of printing from within the printing dialog box.


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1.6.6.3 Warnings upon payment of rent

When a Tenant receipt for Rent is entered, the system checks for and warns of: • Overdue rent payment. • Outstanding tenant accounts. • Outstanding tenant water accounts. • A User entered warning to cover other circumstances.

1.6.6.4 Disbursement codes

We have noticed that many clients have a number of disbursement codes in their systems that are quite unnecessary. Codes should be in generalised categories such as ‘Plumbing maintenance’, with further information such as ‘unblock drains’ inserted in the Details section when the account is entered into creditors. Please remember that the system allows for only 99 residential disbursement codes and once they are used the items cannot be changed. When entering Creditor accounts, Tenant accounts and Standing accounts, the disbursement code name will be entered in the Comments field by default. The comments can then be amended as required.

1.6.6.5 Change of ownership

This function is found in the Property drop-down menu and is used when an existing property that belongs to one owner is sold to another owner and you will still be managing the property. The tenant remains in the property and is also transferred to the new owner. Steps for carrying out the transfer procedure are as follows:

• Create the new owner record. • Using the Search button, find the property you wish to transfer. The existing owner

will be displayed. • Then, using the second Search button, find the new owner for the property. • Enter the transfer date. If this is before the Paid to date of the tenant, and there are

sufficient funds available, transfer this amount to the new owner. This figure can be overridden to any value that is less than the current balance.

Note: Available funds only include current rent, not brought forward balances. Two equal transactions are created, one debiting the old owner, and one crediting the new owner. This creates a new property record with a new unique ID number attached to the new owner. The old property ID remains connected to the old owner. It appends the word Transferred to the first line of its address. The current tenant is connected to the new property. Owner statements can be printed for both the new and the old owners. Note that this procedure is NOT reversible. Ensure that the owners, properties and amounts are correct before confirmation. More importantly, confirm that settlement has actually taken place before proceeding. It can be a good precaution to make a backup of the database beforehand.


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When a change of ownership is made for a property without a tenant, a warning will appear on the screen. As per Section 6.6 of the ‘Joint Form of General Conditions’, GeeDee will calculate rent due to the new owner from and including the date of settlement entered. It is not possible to carry out a change of ownership for properties that are entered as Holiday type. Note: DO NOT process a change of ownership until you have been officially notified that settlement has taken place.

1.6.6.6 Integrity checks

The integrity check automatically runs when the first user logs on each day. The data in the system is contained in many separate files and under normal operation the integrity of the data in the system will normally pass the check. When a transaction is posted, several files in the database are updated. Power cuts, network errors and other seemingly insignificant things can cause an interruption in this process and sometimes produce an inconsistent set of data and therefore an integrity error. The daily integrity check is an important feature of the program and all staff in your office should be aware of this. Whoever is first to start up the system each day should allow the check to run. Do not say ‘NO’ when the system asks if you wish to run the integrity check as a problem may go unnoticed for some time making it much more difficult to resolve. An automatic integrity check will be run as part of the backup when End of period (EOP) processing is commenced. Should an error be found, the operator will have the option to either abort EOP (GeeDee support staff should be called to fix the error for you), or ignore the error and proceed. If the operator chooses to ignore the error he/she must still contact GeeDee support staff who will, at their discretion issue a Proceed code. Note: A Proceed code will only be issued where the error will not compromise the running of EOP. After roll-over and prior to the completion of EOP, an integrity check will be run automatically. This will ensure that any problems that may have occurred in the EOP process are discovered and can be attended to before commencing any transactions in the new period. Finally, remember that no other user should be operating GeeDee while the integrity check runs as this may produce a false error.


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1.6.6.7 Rent calculator

The Rent calculator shown on the right is available in the Tenant receipt screen and is accessed by clicking on the Rent calculator button. Three different calculations can be performed: • Rent up to end date - the amount due

between two dates selected by the operator.

• Rent up to vacate date - the amount due up to the vacate date, which will appear if entered on the system.

• End date for rent credit…- the date that the paid to date will be, based on the amount paid, plus any rent credits.

Additionally, where there is a rent increase (New rent and To start after are both specified) in the period between the old and the end dates, it will be included in the selected calculation.

1.6.6.8 Mixed payments

Rental and other payments may be receipted by a combination of cash and/or cheques on a single receipt. The printed receipt will show the total cash and/or cheque value of a payment. Receipt transactions can also be generated for all direct electronic payments.


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1.6.6.9 Rapid backup and restore

Using compression techniques, a backup of all data can be made on a floppy or Zip disk. Within minutes, data can be restored from these disks to the point at which the backup was made. These daily and monthly disk backups must be made even if the whole system is backed up daily onto a tape drive. For security purposes, these backup disks should be stored off site to enable restoration of data in the case of theft, fire or some other calamity.

1.6.6.10 On-line processing

The system is an on-line accounting system, which automatically updates and recalculates all relevant files with each input of information, e.g. a computer generated rent receipt automatically updates all relevant files including the Tenant file, the Property file, the Owner file, the related trust accounts, the Trust transaction file, the Bank deposit file, the Bank reconciliation file and the Tenant receipt history file.

1.6.6.11 Audit report generation

All End of month and December 31st audit reports are automatically generated by the system. All reports in the system are designed to meet the auditing requirements of the Act.

1.6.6.12 Management fees as a percentage or a fixed amount

The fees are set up and entered for each landlord. Management fees may be fixed or on a percentage basis. They may be based on all, or rent-only transactions. Additional fees and charges can be set for sundries, cheques issued, GST and BAD tax.

1.6.6.13 Rent and maintenance invoicing

For commercial and strata title managements, the system will print out standard invoices, tax invoices and standing invoices.

1.6.6.14 Standard letterhead printing

All letters, statements, invoices, etc., are formatted so that they can be printed on either your standard pre-printed letterhead or onto plain paper with a computer generated logo and letterhead. This option saves in printing costs. All these printed documents are also formatted for window envelopes.


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1.6.6.15 Special menu

Right-clicking on your GeeDee desktop will display a drop-down menu of the most commonly used procedures.

1.6.6.16 Water consumption calculations

The database stores the scales of water consumption charges. It is the responsibility of the user to ensure that these scales are updated from the information provided by the relevant water authorities. By entering the date and meter reading, the system will automatically calculate and post the water charges and generate a tenant invoice and charge sheet.

1.6.6.17 Split payments to joint owners

When more than one company or individual owns a property, the Owner record can contain the details of a second payee to whom payment can be made. Payment may be by cheque or electronic bank transfer.

1.6.6.18 Commercial and strata title properties

The system supports the management of commercial and strata properties. These additions are included as part of the standard package, not as an optional module/extra.


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1.6.6.19 Maintenance of transaction history

The History file maintains a record of every transaction for a nominated period, normally 36 months. These details can be displayed or printed at any time.

1.6.6.20 Income summary report

This feature allows you to see, at a glance, the income for each property manager for the past 12 months. It can be found as an option under the Trust account drop-down menu.

1.6.6.21 GST on agent’s rent commissions, fees and charges

When the GeeDee program was updated to accommodate the introduction of GST, two options were provided for Non-commercial type properties. The first option was to increase the commission rates, sundries, cheque charges and the inspection fees by 10% and to make all owner charges GST inclusive. The owner’s monthly statement would then contain the following statement: ‘Where applicable, all fees, charges and sundries are inclusive of GST.’ The second option was to tick the Add GST box on the Owner screen. This action calculated the GST on each relevant transaction as an accumulated separate amount. This amount, which was recorded on the owner’s monthly statement, was credited as a fee type income in the BAD/GST collection Trust account. Many agents chose the second option, due to its ease of implementation. However, this second option confused, and continues to confuse, many agents and owners. If this situation applies to you, then it is recommended that you change to option one. GeeDee has written a program that will automatically convert your records from option two to option one. This program is available free of charge from GeeDee Realty Systems PTY LTD. This conversion program must be processed immediately after the completion of End of period processing for June so that transactions in the new financial year are carried out using the new method. Please note that all new Owner charges must then be entered as GST inclusive amounts. The file can be saved to any folder and onto any computer on your network. Once the download is complete, double-click on the file ‘FixGST.exe’, then click on Continue and then


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Convert. A log file is generated and if you wish to see the changes made by the program you can print this out.

1.6.6.22 E-mailing a copy of your backup to GeeDee Support

Some time ago the option to send an e-mail to GeeDee Support and attach a copy of your data as a backup file was introduced into the program. It is probably not something you would need to do very often, and generally it would be at our request. However, if you do send us an e-mail copy of your data for any reason; please be sure to include a short message detailing the exact nature of the problem. It would also be useful to note the name of the contact person in your office that we should speak to when we call back.

1.6.6.23 Transaction reports

Transaction reports for owners, properties, tenants and trust account ledgers give users a choice of what transactions the report will contain. Reports can be printed to include current transactions only, transactions between certain dates or transactions for selected periods. Reports can also be printed in three formats: either compact portrait style, a more detailed landscape style or landscape including running balances.

1.7 HARDWARE AND OPERATING SYSTEMS

Configuration of your network and software installation is a job for your computer/hardware technical support person. Ensure that your technician is familiar with the requirements for setting permissions, (especially those related to the Borland Database Engine) when updating or installing Windows XP or Windows 2000. Please note that we have received advice that only Windows XP Professional should be used in a business network situation. Due to certain limitations, Windows XP Home edition should not be used on your business network. BEFORE PROCEEDING it is imperative that your technician has a copy of our latest installation instructions. These must be carefully followed and if you do not have a current copy of these instructions, then your technician should call our office to obtain a copy before commencing any work. These instructions can also be down-loaded from our web site by following the links from the software page. If you are re-installing GeeDee from one of our CDs, it is important that the disk is current. If in doubt, please contact our office for clarification. New CDs are available from GeeDee Realty Systems PTY LTD.

1.7.1 ADSL and pcAnywhere

Does your office now have internet access via a high-speed ADSL connection? If so, please contact our office, as your pcAnywhere connection speed may be able to be improved greatly by using this facility.


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1.7.2 Upgrading to Windows XP?

Please note that if you are upgrading your operating system to Windows XP you should also upgrade your version of pcAnywhere. We have been advised that only pcAnywhere Version 10.5 is completely compatible with Windows XP and this is what should be used if you are upgrading. Note: If required, pcAnywhere version 10.5 is available from GeeDee Realty Systems PTY LTD at a cost of $170.00, plus postage and handling.

1.8 STARTING GEEDEE FOR WINDOWS

When the computer is switched on, the GeeDee for Windows icon will be displayed on-screen on your computer’s desktop. To open the system and launch the program, simply double-click your left mouse button on the GeeDee for Windows icon.

1.8.1 Logging on to the system

When the system is started the log-on screen will be displayed. This initial screen also shows the following: • The current date and time. • The date and time of the last

backup. • The name (month and year) of

the current processing period. Enter your initials into the box and click on the OK button to launch the main program.

Note: There is no password control on the log-on and any three initials may be entered.

These initials together with the date and time are stamped onto each transaction that is entered.


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1.8.2 The GeeDee Desktop

After logging onto the system, the GeeDee Desktop is displayed. This is the main screen and the central operating point of the whole system. The main features and work areas of the desktop are as follows: • The pull-down or drop-

down menu system. • The Owner, Property,

Tenant and Trust account buttons located below the menus.

• The navigator bar. • The tab system which

changes the display of information on the desktop.

1.8.3 The pull-down menu system

The pull-down menu system at the top of the GeeDee Desktop is used to access all of the other features and program windows. The items are categorised into the topics shown along the top of the screen. The pull-down menus available are: File items such as letters, reminders and backups Owner items related to owners Property items related to properties Tenant items related to tenants Trust account items related to trust account ledgers Creditors items related to creditors Bonds items related to bond transactions Banking items related to banking Commercial items related to the Commercial system (not covered here) Help the Help system and other miscellaneous items Click on the category heading and the pull-down menu will be displayed. Then click on the item you wish to access.


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1.8.4 The Owner, Property, Tenant and Trust account buttons

There are four main sections in the GeeDee System: Owner, Property, Tenant and Trust Account ledgers. The GeeDee Desktop is set up as a tabbed notebook. For example, when the Owner button has been selected, the Details and other tabs for the owner are shown. When switching between the Owner, Property and Tenant buttons, connected records are displayed. Moving from Owner to Property, the first property of the owner will be displayed and when moving from Property to Tenant, the current tenant of the property is displayed. If there is no property for an owner, or no tenant for a property, while changing buttons, the user will be asked if a new record is required, and the system will automatically open to the New property or the New tenant Form.

1.8.5 The navigator bar

When the user chooses one of the navigator buttons, the appropriate action occurs in the record that is currently displayed on the screen. The function of each button from left to right is described below: Search (lookup) is the first button and it is used as follows: • Click on the button. A scrolling lookup list of names (or addresses) will appear. • Find the record you are looking for in the list. • The record you have chosen will be highlighted. • Click on the OK button and the details of the chosen record will appear on the screen. Searches are normally performed on records in alphabetical order (name or address). To search by other indexes such as ID number or name, click on the drop-down arrow and make your choice from the list shown. The other buttons on the navigator bar are used for moving through and making changes to the data. Their uses are as follows: First: This button moves the display back to the first record in the dataset. Prior: This button moves the display back to the previous record in the dataset. Next: This button moves the display forward to the next record in the dataset. Last: This button moves the display forward to the last record in the dataset. Edit: This button puts the dataset into Edit mode so that the current record can be

modified. Post: This button saves the changes you have made to the current record. Cancel: This button cancels any changes you have made and restores the record.


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Refresh: This button refreshes the screen to reflect any changes that have been made.

Bookmark: This button ‘bookmarks’ the current record so it can be easily located later. Go To: This button returns the display to the record set in the bookmark function.

1.8.6 The tab system (or notebook)

The notebook pages display various data, arranged for quick and easy access. The main buttons on the GeeDee Desktop control the notebook. Depending on the button selected (Owner, Property, Tenant or Trust account), a number of notebook pages can be seen along the bottom of the desktop. These notebook pages are shown as tabs.

The various tabs (notebook pages) are as follows: Details This page displays the main details of the currently selected record. Transactions This page displays the transactions that have been entered for the

record. A radio button allows you to view either current or historytransactions.

Notes This page displays text based notes that have been entered for theselected record. When a letter or breach notice is generated and printedby the system, a note is automatically appended and will contain thereference and date the letter was sent.

Letters This page displays any letters that have been generated by the systemfor the currently selected item. Here you can issue a new letter or viewand reprint letters previously sent.

Reminders/ Diary system

This page displays reminders that have been posted for the currentlyselected record. Reminders can be attached to any record to remind theuser of an event due to occur in the future. They may be viewed in thecalendar system (accessed from the File menu).

Properties (owners only)

This page displays all the properties that are attached to the owner thatis currently displayed.

Payment (owners only)

This page displays end of period payment details for the currently selected owner. Here you can enter the receiver’s name for the cheque,the bank account details, and the form of payment to the owner. Anowner may be paid by cheque, bank transfer, or as part of a bulk bankingcheque. Alternatively, part or all of the owner’s funds may be held in the Trust account. The details of payments to a second payee are also kepton this form. Note that the second payee must have the same form ofpayment.

Accounts (owners/tenants)

This page displays the details of unpaid creditors’ accounts and charges held against the currently selected owner. If a tenant is currently selectedany unpaid accounts that have been invoiced will be shown.


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Work orders (property only)

This page displays a history and details of all work orders that have been entered for the currently selected property.

Bond (tenants only)

This page displays details of the tenancy bond held for the currentlyselected tenant. Details are automatically updated as they are receipted,and transferred.

Check-lists This page displays a list of items to be done without having to resort tomany pieces of paper. Reports of all check-lists can be printed as a hard copy reference.

Sale details This page will only appear if the currently selected record is a Sale type Trust account ledger. Here you can enter details of the vendor, thepurchaser, conjunctional agent, settlement agent and other informationrelevant to the sale of the selected property.

Commercial This page will only appear on the screen where the currently selected record is a commercial owner, property or tenant. The page will containdetails that are only pertinent to the Commercial system.

Holiday This page will only appear on the screen where the currently selectedowner has a property that has been set up for holiday lettings.

1.8.7 GST

The system is compatible and compliant with current GST legislation. The Goods and Services Tax on fees and charges is automatically calculated by the system and shown on monthly owner statements. GST charged on creditor payments is also shown if entered; and where required the system will generate tax invoices for strata companies and commercial owners.

1.8.8 Powerfind button

Powerfind allows you to quickly locate any owner, property, tenant, trust account, creditor or disbursement code by simply entering the name or part name of the item. There is an option that allows you to include archived records in your search. Details of cheques, receipts and journals can also be located by entering the reference number in question. History records can also be included in your search. This facility also includes electronic payments. The use of this feature requires the payment number and the exact amount of a particular payment. Any records found using Powerfind can be better viewed if you click on the Spectacles. If a number of records have been found then you can use the navigator bar in the Spectacles option. Disbursement code details are now included where relevant.

1.8.9 Cheque and receipt numbers cannot go backwards

In order to avoid potential problems, and to comply with the requirements of the REBA Act, the system prevents cheque and receipt numbers from being altered and re-set back to an earlier number.


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1.8.10 Editable remittance slip

The remittance slip information that is printed at the bottom of tenant statements and all invoices can be edited to suit your own preferences. The file that contains this information can be found in C:\Program Files\GeeDee\Proman\Trust\Slip.txt (server) or G:\Program Files\GeeDee\Proman\Trust\Slip.txt (workstation). If you have a system that runs more than one set of data, the slip.txt file will be in the related Data Alias folder for each.

If you open the file in Windows Notepad it will display similar information to that shown on the right. You may change the wording of the text and/or alter other settings to the right of the = signs but text to the left of the = signs will not be printed and must stay intact. Margins are specified in inches and should be sensible or a print failure may result.

Slip Details to Print on Tenant Accounts 1: Bottom Margin=1.000 2: Left Margin =1.000 3: Line1 Left =Please Make Payment to: 4: Line1 Center =GeeDee Realty Systems 5: Line2 Left =BSB No: 000-111 6: Line2 Center =801 Canning Highway 7: Line3 Left =Acc No: 123456789 8: Line3 Center =Applecross WA 6153 9: Line4 Left =Ref No: A: Line4 Center = B: Ref=1

The last line assigns the method that will be used to generate the reference number. • If Ref=0 is specified, then the Tenant ID will be used. • If Ref=1 is specified then the tenant’s Bank ID will be used. (If the tenant does not have a

Bank ID the reference will be the tenant ID prefixed by a ‘T’.) • If Ref=2 is specified then no reference number will be printed.

1.8.11 New bank

Each owner record can be connected to a bank. As installed, there is a database of commonly used Australian banks, with their abbreviated initials. It can happen that it is necessary to create a new bank, which is not included in the database. From the Banking drop-down menu, select New bank. This program item then displays the list of existing banks in a grid. To create a new bank, click the Append button and enter the bank’s initials (three uppercase characters) and full name.


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1.9 SYSTEM SETUP

All users must exit from the normal GeeDee System before opening the System Setup. The System Setup is a separate icon on the main desktop. There are twelve different areas of system information relating to your particular company. These areas are shown as tabs at the top of the System Setup screen (seen on the right). Each area should be viewed so that you are aware of the contents.


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SECTION 2 PROPERTY MANAGEMENT PART 1

SECTION OUTLINE

In this section we will look at common functions of the Owner, Property, Tenant and Banking menus of the GeeDee Desktop. Emphasis will be placed on the following ‘everyday’ situations: • Entering a new owner, property and tenant • Entering receipts for tenant, property and owner payments • Reversing receipts • Daily banking • Tenant accounts • Tenant water consumption • Tenant stamp duty • Transferring bonds • Distributing bonds • Bond refund cheques

2.1 ENTERING NEW OWNERS, PROPERTIES AND TENANTS

As with most computer systems and accounting programs, record keeping follows a logical sequence. In the case of property management when you acquire a new property to manage, the relevant information needs to be entered into the system in the following order.

2.1.1 Owner ---- > Property ---- > Tenant

From the Owner pull-down menu, select New. A New owner form will pop up for completion. After the owner’s details have been entered and posted, the system will then ask if you wish to enter a property for this owner. Once the Property details have been entered and posted, the system will then ask if you wish to create a tenant for this property. You may enter New tenant details for the property at this time if the property has been let, or, select ‘No’ and choose to enter the details once they become available. Enter the data into the fields on the form. Read the hints or press the Help button if more information is needed. Click on the Post button and the record will be saved in the database. Note: When entering names, e.g. owners or tenants, be sure that the surname is entered first (with a comma after the surname). This will ensure that names will be listed alphabetically by surname. When the program uses the name in a letter or a statement, the name will be transposed back to its correct position. To cancel the creation of a new record, close the form before posting. As this form only contains minimum information, you are required to input additional information, e.g. emergency contact, maintenance requirements, etc. into the other fields of the desktop once you have set up the new records. Additional useful information should be entered into the Notes, Reminders and Check-list tabs.


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To set up a block of Stratas, proceed as follows: • Create a record for a new owner with the name of the strata company as the name of the

owner, e.g. ‘Murray Mews, The Owners of’. Set the Type to Strata. • Create a record for a new property connected to the owner for each unit in the strata. The

levy amount and period are entered. • Create one additional master property named something like ‘Murray Mews – Master’.

Set the management fee against this property. All other properties are set at zero management fees.

• Create a record for the tenant connected to each property, with the name of the unit owner as the name of the tenant. In some cases, the address may be that of the managing rental agent for the property.

If a unit is also being managed as a rental property, then this is handled as a separate entity to collect the rent. Levies are receipted as rent on the Tenant receipt. Owner levy statements are generated as Tenant statements. Interest on overdue amounts will be automatically charged. The Summary and History statements for the owner are designed as financial statements for the strata company. To be able to differentiate between rental and strata properties, it can be useful to prefix the name with a full stop, e.g. ‘.1/Murray Mews’. In this way, there is less room for confusion if properties are being handled as rentals as well as stratas. In this case, there can be two property records with the same address. Note: The penalty interest rate for late payment of strata levies is 15% by default. Should you wish to change or delete this, go into GeeDee System Setup and across to the Misc. tab. The % rate can then be edited in the bottom left hand corner. At the time of generating invoices the user is given the option to amend the interest rate for an individual strata.

2.1.2 ABNs for residential owners

Owners are not able to claim GST credits on residential properties. Therefore, even if an owner has an ABN you should not enter it onto GeeDee if the property under management is residential. Entering these details onto the system when not required may result in misleading and/or confusing information appearing on the owner’s statement. If your residential owner does have an ABN and you wish to record it, we recommend storing it in the owner’s Notes tab.


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2.2 ENTERING TENANT, PROPERTY AND OWNER RECEIPTS

NOTE: When entering receipts you must TAB through every field on the form.

2.2.1 Tenant receipts

• Find the property record using the Search or Navigator buttons. The current tenant for

the property will be displayed. If the tenant for the receipt is not the current tenant, then use the Tenant search button.

• The Acct credit field shows the total of any/all amounts/credits (towards accounts) paid in advance. Account credits only apply to Residential type properties. The Acct credit button is used to refresh/recalculate the total if/when changes are made.

• The Accounts field shows the balance of all outstanding tenant accounts that have been raised.

• There are two small edit buttons - one above the Pays to field and one above the Rent credit field. Clicking on either of these buttons will ask the operator to enter their password. Once this is done the operator will then be able to edit the Paid to date that will apply and/or the amount of any rent credits shown.

• Enter the total amount being receipted then enter the amount being receipted as rent. When the cursor exits the rent field, the Paid to date is automatically calculated. Normally, the amount will be an even rent amount and the Paid to date will be advanced by the rent period.


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• Enter any other amount applicable. This may be bond, letting fee, stamp duty, water, or other amounts due. For more details see Amounts allocated to Other (2.2.1.3).

• Enter the amount you wish to allocate to a trust account into the Direct to a trust account field (if applicable). Amounts transferred directly to their own special trust accounts do not appear on the Owner statement. It can be useful to be able to receipt other amounts to special trust accounts for various purposes. If an amount is entered in this field, then another grid will appear containing all the credit and fee accounts in the trust system.

• Check on the appropriate Pay by method, which may be cash, cheque, cash/cheque, or direct credit. If payment is to be made by cheque, then a grid will appear for the cheque details and amount to be entered.

• Once the receipt has been completed and all funds have been allocated, the message, Select Payment Method and Tab to Activate OK Button will appear.

2.2.1.1 Tenant credits/accounts in advance and Ledger 32001

In order to streamline the handling of amounts paid in advance by tenants against future accounts, a new system was introduced. In the past, amounts paid as ‘credits’ for a particular disbursement would be paid out to the owner immediately. Now, when a tenant pays an amount in addition to rent, where there is no account raised, the system will raise a ‘general credit’ and the funds will be posted to Ledger 32001 (the kitty). This system will stop multiple credits from being raised for different disbursement codes, thereby complicating the receipting process. The ‘general credit’ funds stored in the kitty can be put towards any account that may be raised in the future. Funds stored in Ledger 32001 are not credited to the owner until they have been allocated against an account. A new report is now included in the Statutory Audit Reports detailing the amounts held as credits on behalf of tenants. The total shown on this report will substantiate the total of Ledger 32001 as shown on the Trust account trial balance report. Please note: Where a tenant has an existing ‘credit’ account that has been previously created and the amount has been credited to the owner, then action will be required to retire these negative accounts. The Tenant outstanding accounts report will show any credits that have been receipted under the old system and therefore require attention. The options would be as follows: (1) If the account has been created in the current period and the owner has sufficient funds then reverse the receipt and re-enter the amount under the new system, or (2) If there are insufficient funds or the credit was created in a previous period, then accounts will need to be manually adjusted, or a property disbursement made against the original disbursement code. The cheque from this payment is to be receipted to the tenant and allocated as a credit under the new system.

2.2.1.2 Allocate credits button

This function is used when an account is raised and you wish to pay the account using the ‘general credit’ funds held in the kitty (Ledger 32001). This works in a similar manner to distribute bond funds, in that you are using existing funds held (Ledger 32001) to clear an account and pay the funds to the owner. Go into the Tenant receipt screen, and ensure that the total amount received shows $0.00. Click on the Allocate credits button and a report showing the Statement of credits for tenant will be displayed. Close the report and you will then be asked if you wish to allocate the credits.


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Note: Ledger 32001 is a ‘system’ type account, which means that trust account receipts and/or payments cannot be processed directly from the ledger (as with the bond and stamp duty ledgers).

2.2.1.3 Amounts allocated to Other

The Other screen is divided into two sections. The top section shows the property address and tenant details, as well as the total of any credits held in the kitty (Ledger 32001) and the total of any outstanding accounts. As on the main receipt screen, the Acct Credit button is used to refresh/recalculate the total if/when changes are made.

When the amount paid is less than or equal to any accounts that have been raised using Tenant accounts system, the displayed window will look like this:

Any outstanding account is displayed with its current Due amount. The Pay amount can be entered either manually or by selecting the Allocate button. If Allocate is selected then the system will automatically allocate the funds to the oldest. Should you wish to change the allocation of funds, simply edit the amounts as required. Once Pay amounts have been allocated, it is simply a matter of clicking the Accept allocation button in the bottom right hand corner. You will then be returned to the main receipt window to complete the transaction.

When no account has been raised, but the tenant is paying an amount other than rent for a Residential type property the displayed window will look like this.

This window will look similar to the one opposite and show the amount to be allocated. The operator must then decide whether to create an Instant account (funds are allocated and posted) or Make credit (funds are allocated to the kitty – Ledger 32001). Except for stamp duty, instant payments can only be created for Non-commercial type tenants, ie, Residential tenants. Commercial type tenants are those where the owner or strata company has an ABN entered, regardless of whether there is a GST on rent from date.


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If Instant payment is selected, a disbursement window will open, allowing the operator to select/enter the funds as required. There is no need to scroll through a list of all disbursements. Simply begin typing the name of the appropriate category (e.g. ‘W’ for Water consumption, ‘B’ for Bond, ‘S’ for Stamp duty) and then tab through the remaining fields, completing the required details. If the funds are to be allocated to more than one category, simply repeat the procedure. Once all funds have been allocated, click the Accept allocation and continue button in the bottom right hand corner. You will then be returned to the main Receipt window to complete the transaction. When an amount has been entered and processed as an Instant account, then the details in the transaction field will be prefixed with ‘IA’ to denote that it has been processed as an Instant account. Note: Except for stamp duty, Instant payment accounts cannot be raised for Commercial type tenants (where the owner has an ABN entered in the system).

Where do I see the amount a tenant has in credit (Ledger 32001)?

The Accounts/Credits fields on the tenant’s Details and Accounts screens show the total of credits held and the total of any outstanding accounts. The Calc button next to these field is used to recalculate/refresh the amount shown if required.

Note: Clicking on the red question mark will display the message box, shown opposite, which has details on how the receipting system operates.


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2.2.1.4 Other information related to tenant receipts

• When amounts are entered in the Direct to a trust account field then the Details field in the Transaction table will be prefixed with DTT to denote it as being Direct to trust.

• Amounts entered as Other. Make credit and Instant accounts can only be created from within the Tenant receipt module for Non-commercial type tenants, i.e., residential tenants. Commercial type tenants are those where the owner or strata company has an ABN entered, regardless of whether there is a GST on rent from date entered or not. If a Non-residential tenant pays an amount for a non-invoiced account then you must exit the Tenant receipt module and raise the required invoice before returning to the Tenant receipt module. The tenant will require the tax invoice for his records, regardless of whether the owner is registered for GST or not.

• All Tenant invoices, including invoices for electricity and gas consumption, will only show a GST amount where the owner has an ABN entered and the related property has a GST on rent from date entered.

• Receipts can be re-printed, regardless of the transaction date. The limit will normally be 3 years, or the time-limit set in your System Setup.

• GeeDee will automatically calculate the correct rent amount due where a rent change has occurred mid-period.

2.2.1.5 Direct payment receipts

When receipting money that the tenant paid directly into the bank (DEFT) a pop-up window will ask you to enter the day and month date of the transaction (in the format: dd/mm) as shown on the bank statement. The date of processing is not the same as the date the payment was actually made and by requiring this input, the program will note the actual payment date on the Transaction details screen. This will help to avoid potential problems should a dispute arise over payment dates.

2.2.1.6 Receipts for odd amounts

A selection box will be displayed when dealing with a receipt that is for an odd rent amount. All you need to do is choose which option you prefer and click OK. You should choose the Treat extra funds as rent credit option, unless there is a special reason for wanting to modify the rent cycle dates.

2.2.1.7 Tenant direct payments

If your tenants pay their rent electronically it is important that you read the following information as changes have been made in the GeeDee System. Users of the DEFT (Direct Electronic Funds Transfer) numbering system: (This means that your tenants pay their rent electronically through BPAY, Quickrent, Rentcard, etc.) • If your bank issues the DEFT numbers then NOTHING has changed.


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• The number still has to be entered manually into the Bank ID field on the Tenant screen. This number will now show on the Tenant DEFT Report and override the numbers that would be generated by the system as described below.

2.2.1.8 Unidentified deposits

Credits may appear on your bank statement without sufficient information to identify the person who made the payment. A Credit type Trust ledger should be created titled ‘Unidentified deposits’. If these payments occur frequently it is recommended that you create a new Ledger account for each month or each quarter. Receipt these amounts as a Trust receipt and record the bank statement date together with any other information that was provided. Additional relevant information can be recorded on the Notes tab for the Ledger account. When the source of the funds has been identified, make a DEFT Trust account payment from the Trust ledger and then issue a Tenant receipt as a DEFT amount. It is not necessary to actually transfer these transactions through your bank as the two items in the Bank reconciliation system can be flagged one against the other. A set of reports is available from the Tenant menu that will give the operator a listing of Tenant payment methods (how each tenant pays his rent). The reports are as follows: (1) Tenant direct depositors. (2) Other payment types (e.g. cash/cheque). Note: In order to use this report it will be necessary to include an asterisk at the start of the Bank ID field on the Tenant screen (e.g. *CASH). (3) Tenant direct debit rents. The How field at the end of each report denotes the method of the tenant’s last payment. The codes are as follows: C = Cash, Q = Cheque, B = Both (cash and cheque) and D = DEFT.

2.2.2 Owner receipts

Owner receipts are issued when funds are received directly from an owner. The most frequent case is when an owner is providing funds so that maintenance can be done and there are insufficient funds in the account. • Use the Search button to locate the

owner’s record. • Enter the amount of the receipt. • Select the form of payment. • Edit the Comments field and enter a

description. These details will appear on the statement.

• If the payment is made by cheque, enter the cheque details. These will appear on the Daily banking and Daily transaction list.

• If the payment has been received directly into the Trust bank account, then the amount will not appear in the Daily banking and a record will be inserted directly into the Bank reconciliation system.

• Once all the details above have been entered, press Enter, or click on the OK button.


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2.2.3 Property receipts

Property receipts are used when funds are received from a third party for an owner. The most frequent use is to receipt funds from an insurance claim. • Using the Search button, locate the property for the receipt. • Enter the receipt amount. • Nominate whether the funds receipted are cheque, cash or a direct credit. • The dissection categories will appear in the grid. Enter the amount against the

appropriate category (-ies). • Enter the Drawer/Paid by name. • If the funds have been received by cheque, enter the bank’s name and branch. These will

appear in the Daily banking. • If the funds have been received directly into the Trust bank account, then the amount will

not appear in the Daily banking. A record will be inserted directly into the Bank reconciliation system.

• Once all the details above have been entered, press Enter, or click on the OK button.

2.3 REVERSING RECEIPTS

If a receipt has been issued incorrectly, the error can be corrected by reversing the receipt. A receipt can be reversed provided the receipt is in the current period and the owner has not been paid the funds. Once the funds have been paid to the owner, you cannot reverse the receipt.

2.3.1 Reversing a receipt in the current banking

If the receipt is in the current banking, it can be reversed easily. • From the Banking pull-down menu, select Reverse receipt.


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• Enter a descriptive reason why the receipt is being reversed. There is a pull-down list of reasons that can be used, but any other text may be entered.

• The receipt numbers from the current period that can be reversed are displayed in the scroll box. Select the receipt number from the box.

• Press the Reverse button and the receipt will be removed from the current banking.

2.3.2 Reversing a receipt from a previous banking

Receipt reversals

When reversing a receipt that is not in the current banking you will be presented with a message asking you to choose between Negative cash in Daily banking or Treat as dishonoured cheque. Remember that if you reverse a receipt as negative cash, it must be re-receipted as cash, for the same amount, in the current banking.

Treat the reversal as a dishonoured payment

This will treat the reversal as a dishonoured payment. The receipt will be reversed and a dishonoured payment entry will be placed in the Bank reconciliation. The dishonoured payment must appear on the Bank statement at some date to reconcile the amount.

Reversing a dishonoured cheque from a previous period

At some stage, the funds must be received to cover the dishonoured cheque. The tenant may pay with a new cheque or a cash payment. When this payment is received, proceed as follows:


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• Do not receipt the cheque payment into the computer. It is a good idea to place a warning note on the tenant’s record to ensure this does not happen again.

• Make out a separate manual deposit for the cheque and bank it as a separate deposit. • On your Bank statement, you will have a debit for the dishonoured cheque and a credit for

the direct deposit. As these two entries will cancel each other out, no further action is necessary. If they appear on different pages of the statement, you may need to use a correction journal in order to make each page balance.

2.3.3 Rent refund

If ever you have a tenant that has paid beyond their vacating date, you will need to do a rent refund.

These are the steps required to produce the correct result:

Step 1 Calculate the amount of rent to be refunded. You will need to calculate this on a daily basis.

Step 2 Using the Creditor pull-down menu, process a Property disbursement for rent refund. (If necessary, first go into System Setup codes and create (insert) the Rent refund category.)

Step 3 Refund the owner the management fee on the extra rent using a negative owner charge.

2.4 DAILY BANKING

All cheque and cash receipt details are automatically added to the Daily banking file. The contents of the file can be printed or viewed at any time to check on the funds that are available for banking. When the file is closed, an entry will be posted in the Bank reconciliation that must correspond to an entry on the statement. The funds can then be taken to the bank with the printed deposit slip. In the Trust account, there is a Trust account ledger (2) called Daily banking that is debited when all cash or cheque receipts are saved in the database. The balance of this account is equal to the current daily banking amount. When the banking is closed, a transaction is generated and the balance returns to zero.

The form shows the total amount of cash and cheques that are currently in the Daily banking. Previous bankings may be viewed and printed by changing the banking number in the top right corner of the form. To close the banking, click the Close banking button. It is possible, if necessary, to make some changes to the banking regarding the form of a receipt.


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The cheque column indicates which items are cheques. The receipt can be changed from cash to cheque and vice versa by clicking on this check-box. The drawer’s name, bank, and branch can also be amended. The amount of the receipt cannot be changed, so if there is an error in a receipt amount, the whole receipt must be reversed. For a copy of a previous banking, change the banking number in the top right corner and press Print banking.

2.4.1 Daily banking not balanced

Problems can occur with a bank reconciliation where the amount shown for a Daily banking deposit differs from the amount shown in GeeDee. The main reason this occurs is that the Daily banking was closed despite the fact that it did not balance correctly with the cash/cheques actually held. The Daily banking deposit sheets should be printed off before the banking is closed. The cash and cheques should be checked to ensure that everything balances with the printout. Closing the banking if it does not balance will cause a bank reconciliation error that may be difficult to correct further down the track. If there is a problem balancing the banking it should be investigated and solved before proceeding. If necessary, make a manual deposit into the bank, but NEVER CLOSE THE BANKING IF IT DOESN’T ACTUALLY BALANCE with the funds that are held.

If your bank requires you to allocate the DEFT numbers

The numbers generated by the Tenant DEFT report have been changed recently to accommodate banks that require at least 6-digit numbers (including the check digit). Adding 10,000 to the GeeDee Tenant ID number and then adding the check digit at the end now generates the numbers. When you applied for your BPAY Biller Code, you probably had to state the number of digits (including the check digit) that would be used. Please ensure that your bank will also accept the new 6-digit number. The banks will only accept this instruction directly from you, their customers, and may take more than a month to implement it. If you tell them that it is only the acceptance of another length of number and not of the formula by which the check digit is calculated, the period may be reduced to 4 days in some cases. Even though the old numbers might still work for some time, you should advise your tenants of the new number as soon as you have ensured that your bank accepts it.

2.5 TENANT ACCOUNTS

The GeeDee System has the facility for issuing, invoicing and receipting payment for various tenant accounts. Generally tenant accounts would be raised for items such as maintenance, cleaning costs, gardening, etc. Items such as water consumption and electricity consumption are handled and calculated by GeeDee in their own sections, however, the amount due is still posted to the outstanding Tenant accounts section of the program. The Tenant accounts facility is accessed from the Tenant pull-down menu. This form shows a list of tenant account items. Here new items can be added and outstanding items can be edited, or cancelled. There are no invoice or statement numbers in the system. Invoices can


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be raised for individual accounts and a statement can be issued to show all outstanding items. The statement will always produce an up-to-date list of unpaid account items. The payment of tenant accounts is made through the Tenant receipt. Once paid, the details are retained, but they are no longer printed on the statement or outstanding accounts list.

When entering Creditor, Tenant and Standing accounts the disbursement code name will be entered in the Comments field by default. The comments can then be amended as required. GST can only be included in Tenant and Standing accounts where the owner has an ABN entered and the related property has a GST on rent start date entered. All tenant invoices, including invoices for electricity and gas consumption will only show a GST amount where the owner has an ABN entered and the related property has a GST on rent from date entered. NOTE: A date in the GST on rent from field indicates that the owner is registered for GST. If the owner is registered for GST, and the property is not residential, then a date must be entered in the GST on rent from field on the Property screen. This should be the date when the tenant becomes liable for GST on rent.

Water consumption, electricity and gas

All of the above functions operate in a slightly different manner in the new version of the program. Details of the changes are noted below: Water The Post button will not be available until all fields have been completed.

Please note that the Charge date must be greater than, or equal to the current date, and greater than, or equal to the To reading date.

Electricity The grid and all the buttons along the bottom of the form will not be available until all items have been completed along the top of the form.


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Gas The grid will not appear on the screen until all items have been completed along the top of the form. The Invoice button will not be available until the Calculate function has been performed.

2.6 TENANT WATER CONSUMPTION

The Water Corporation as a rule, charges water consumption to the owner of a property and not the tenant. Therefore, it is the responsibility of the owner to pay the account. Water consumption accounts for the owner should be entered into and paid using the Creditor system. The funds will then be debited from the owner’s account and appear on his statement. Depending on the lease agreement, an owner, via the real estate

agent, can then recover funds from the tenant for water consumed. Unfortunately, due to the way in which the Water Corporation charges for water, the charge to a tenant who is paying for 100% of water consumption is not necessarily the same amount as on the bill. The GeeDee System’s water consumption calculator follows the method of calculation as set out by the Ministry of Fair Trading. This method allows for consumption to be charged to the tenant based on a usage by period basis. The Tenant water calculation facility can be accessed from the Tenant pull-down menu. It is the responsibility of the user to ensure that the current consumption rates are maintained in the GeeDee System.


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2.7 TENANT STAMP DUTY

The initial receipt of stamp duty is processed as a Tenant receipt item. The funds are received from the tenant and are credited to Trust account 9 (Stamp duty) where they are held until they are deposited with the Commissioner of State Revenue. To pay out stamp duty to the Commissioner of State Revenue, proceed as follows: • Select Stamp duty from the Tenant

pull-down menu. • The grid shows the tenants you are

currently holding stamp duty for. Click on the Select column to select

which tenant’s stamp duty you wish to pay. • Click on the Cheque button to print the Stamp duty assessment form and cheque. This item can also be used to return stamp duty to a tenant that has decided not to go through with a lease. Use the same procedure as above, but change the name in the payment box to the tenant’s name.

2.8 BONDS

The GeeDee System maintains a complete record of tenancy bonds from initial collection from the tenant to final disbursement upon vacating. There are two systems of retaining bonds. The licensee can elect to deposit it either in the Bond trust account or with the Bond Administrator. Bonds held under the old system of having separate accounts with the bank for each tenant are treated in the same manner as those with the Bond Administrator. The Tenant bond details page shows the location and amount of bond funds for the currently selected tenant. The amount held in the Trust account will appear when the bond is receipted through the Tenant receipt and indicates that the amount has not yet been transferred.


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2.8.1 Bonds deposited in a Bond trust account

Tenant receipt The bond is initially receipted from the tenant. The receipt will go into the Daily banking and will be deposited into the main Trust account.

Bond to bond T/A The bond is transferred to the Bond trust account. A fax will be generated and sent to the bank requesting the funds be transferred. GeeDee will place a debit journal into the bank reconciliation, which will correspond with the transfer on your bank statement.

Bond from bond T/A When the tenant vacates, a fax will be generated requesting that the funds be transferred back to the main Trust account. GeeDee will place a credit journal in the bank reconciliation, which will correspond with the transfer on your bank statement.

Bond refund cheque When the tenant vacates, use this function to draw a refund cheque for the tenant. This function can also be used to make out a cheque to a contractor for work carried out, however, it is preferable to use the Distribute bond function.

Distribute bonds This function is a variation of the normal Tenant receipt, with the receipt amount being drawn from the tenant’s bond funds. The receipt does not appear in the banking as GeeDee makes all the necessary journals. Use this function when rent is to be paid from the bond and to transfer funds for damages, carpet cleaning, etc. The accounts must then be paid out of the owner funds using the Creditor system or the Property disbursement item.

Tenant bond statement This function prints a statement showing when and how funds were receipted, transferred, and disbursed and can be forwarded with the bond refund cheque.

2.8.2 Bonds deposited with the Bond Administrator or the old system

Tenant receipt The bond is initially receipted from the tenant. The receipt will go into the Daily banking and will be deposited into the main Trust account.

Bond to Administrator A cheque is drawn for the amount, and sent to the Administrator, together with the necessary forms. It is no longer the liability of the Trust account. When the account or reference number is received, enter it into the Tenant bond page.

The tenant vacates Generally the Bond Administrator will provide two cheques, or will forward the refund cheque directly to the tenant. If there are any deductions the Bond Administrator will forward a second cheque for the owner’s portion. Forward the tenant’s cheque directly, together with all the documentation. Update the Tenant bond page with the bond return date and delete the amount shown as with Administrator.

Receipt the cheque Receipt the cheque received as a Tenant receipt for bond and then proceed as above to distribute the bond and issue a bond statement.


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2.9 BOND TRANSFERS - TO BOND T/A - RECEIVED ONLY BOX

Normally, only new bonds that have been receipted, but not yet deposited, are displayed. To view any additional amounts and/or bonds that may have been received or returned to the Trust account, uncheck the Received only check-box in the lower left corner of the form.

2.9.1 Commercial bonds

If you have a new Commercial tenant and they will be paying a bond, follow the steps below to ensure that it is set up correctly in GeeDee. • For each new commercial tenant that will be paying a bond, set up a new Credit type

Trust account, e.g. ‘ABC Pty Ltd Bond’. • Receipt the bond as part of a Tenant receipt and allocate/direct it to the newly created

Trust account. • Add a note to the Tenant file detailing the name of the Trust account. • Commercial bonds are not handled in the same way as residential bonds and are not to

be sent to the Bond Administrator or lodged in the Bond trust account. • Please note that the details of commercial bonds will not appear on the Bond listing report

or show on the Tenant bond details screen as these areas only apply to residential bonds.


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SECTION 3 PROPERTY MANAGEMENT PART 2

SECTION OUTLINE

In this section we will look at the following procedures and how they are carried out. • Individual owner payments • Owner statements • Rent arrears and other alerts • Letters • Notes, reminders and check-lists • Work orders and creditors • Owner charges • End of day procedure (Daily backup and restore)

3.1 INDIVIDUAL OWNER PAYMENTS

Payments to owners are normally made at the end of the period using the Period end program. However, there may be an instance when an owner requires payment during the period. A payment can be made to an owner from any funds being held at any time during the period. It allows a cheque to be issued and printed or the funds paid by direct transfer. To draw off an individual owner payment proceed as follows:

• From the Owner pull-down menu select Payment. Locate the owner using the Search button. The owner’s current balance and value of outstanding accounts are displayed. The accounts due amount includes creditors’ accounts due and not yet paid on the property, and any owner charges (inspections, etc.) which have been entered in the current period.

• Enter the amount of the payment. By default, this will appear as the account balance less outstanding accounts. The operator may change this amount, but it may never be greater than the owner’s balance. Owner balances must never fall into debit.

• Enter any details of the payment. This text will appear on the Owner statement. • Select the method of payment and enter the payee’s name for the cheque. Enter the

remittance details. These will be printed on the remittance section of the cheque. • Click on the OK button or press the Enter key to process the cheque. If you choose the

option to make payment by direct credit then an item will be placed in the Direct payment file.


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3.2 OWNER STATEMENTS

An Owner statement can be printed or viewed at any time. Three types of Owner statements can be produced: Current, History and Summary statements.

3.2.1 Current statement

Accessed via the Owner pull-down menu, the owner’s Current statement can be printed or viewed at any time. It will contain data and transactions for the current period of processing. This statement should be printed and forwarded if an owner requests an individual one-off payment.

3.2.2 History statement

The main purpose of this item is to be able to reproduce a copy of a previous statement of the owner. For this purpose, the start and end periods will be the same period, and a copy of the required period’s statement will be printed. As the date range can include as many processing periods as required, it may also be used to produce a detailed Summary statement, e.g. financial year.

3.2.3 Summary statement

The most frequent use of a Summary statement is as an End of financial year statement for residential properties, as it does not contains details of individual transactions, but summarises them for accounting purposes.

3.3 RENT ARREARS AND OTHER ALERTS

The Alerts function is accessed from the File pull-down menu. This section of the program is used to assist the user in controlling rent arrears and for producing letters and reports in relation to other important date dependent events. The tabbed sections of the Alerts menu are: • Overdue rents. • Leases due to expire. • Routine inspections due within a period. • Management authorities due to expire. • Rent Reviews due within a period. • Mail-merge letters and mailing labels to owners and tenants.

Let’s take a brief look at the various tasks that can be performed within the Alerts section.


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3.3.1 Rent arrears control

From within Alerts, click on the Overdue rent tab; then click on Select area. Enter the number of days overdue and click on the Tenant type you wish to produce the report for. The grid within the notebook will then display the records that fall within your selection. Select the tenant(s) that you wish to send letters, breaches or terminations to by clicking in the check-box. You may then choose the option to suit the action you wish to perform. The options available allow you to produce the following: Report Print/preview a Rent arrears report tailored to your specifications. Print letter Print a standard Overdue warning letter. Breach Print a standard Form 21 Breach notice. Terminate Print a standard Form 1A or 1B Termination notice. GeeDee will automatically attach Notes and Reminders to each tenant you have selected so that you have a record of when the letters were sent and when the Breach or Termination notice is due to expire.

3.3.2 Leases expiring, Inspections due, Authorities expiring and Rent reviews due

Each of these options is available to you in the Alerts system and each task is essentially performed in the same manner. From within Alerts select the function you wish to perform by clicking on the appropriate tab. Select the area, the number of days ahead you wish to cover and the type of tenant/owner you wish to produce the report for. The grid within the notebook will then display the records that fall within your selection. Select the tenants/owners that you wish to send letters to by clicking in the check-box. You may then print/preview the chosen report and send letters to the tenants/owners selected. GeeDee will automatically attach Notes to each tenant/owner you have selected so that you have a record of when the letters were sent. Letters sent can be reprinted and previewed at any time from the main Notebook tabs under Owners, Properties and Tenants. The Inspections due report includes a field for a vacating date (where one has been entered onto the system), which gives the operator the choice whether to carry out the inspection or not. NOTE: All tenants who have a vacate date will appear on the Inspections due report until such time as they are made inactive or they are archived. Once a tenant vacates they should be made inactive, and then once the bond and all other transactions are finalized, they should be archived.

3.3.3 Mail-merge and mailing labels

Merged letters are letters where parts of the text of the letter are retrieved from various fields within the database, e.g. the name and address of a tenant. It is a very efficient method of sending letters. There are almost 100 standard letters that are provided in the GeeDee


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System that can be mail-merged to owners and tenants that have been selected in the Alerts system. Select the owners/tenants you wish to send a merged letter to by clicking the check-box. Next click Print letter. This will open up a Search box so that you can select the letter you wish to send from the list of standard letters. Finally, choose Print/Preview to produce your letters. GeeDee will automatically attach Notes to each tenant/owner you have selected so that you have a record of when the letters were sent. Letters sent can be reprinted and previewed at any time from the main Notebook tabs under Owners, Properties and Tenants. Mailing labels are generated in the same manner. Simply select the owners/tenants you wish to print labels for by clicking the check-box and then click Labels.

3.4 LETTERS

As well as the many standard letters that come with the GeeDee System, the program also features an integrated word processor. This feature is accessed from the File pull-down menu and allows the user to edit the standard system letters or create his own. The Edit letters form contains the following functions: Search Used to locate existing letters in the database. Type Select the radio button for the type of letter. Name/Description Each letter must have a unique name and a description. Editing box Allows the user to create a letter of any length. New Allows the user to create a new letter. The operator must fill in the

name, description and the type of letter. Delete Deletes the current record containing the text of a letter. Preview Shows a preview of the letter as it will be printed on an A4 page. Merge fields Double-click the left mouse button at the location in the text where you

require one (or more) data merge fields, and a scrolling list of all the available merge fields will appear. Click on the required field and it will automatically be added.

Formatting Right-click and a box for formatting the text appears, e.g. cut, bold, font.

Each letter has a Type, which determines the name and address that is printed on the top of the page. These types are: Owner The owner’s name and address (Property management). Tenant The tenant’s name and address (Property management). Vendor The vendor’s name and address (Sales). Purchaser The purchaser’s name and address (Sales). Vendor settlement agent The name and address of the vendor’s agent (Sales). Purchaser settlement agent The name and address of the purchaser’s agent (Sales). Conjunctional agent The name and address of the conjunctional agent (Sales). Document These are printed on plain paper with no letterhead.


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3.4.1 Editing letters in GeeDee for Windows

When editing/creating a new letter in GeeDee it is important to check that you have given the letter a Name and a Description. Furthermore, be sure that the name you choose is unique and not already in use for an existing letter. Failing to give letters a unique name and a description may generate a Key violation and/or an Access violation and could result in your system locking up.

3.5 NOTES, REMINDERS AND CHECK-LISTS

3.5.1 Notes

Notes can be attached to any Owner, Property, Tenant or Trust account. The Notes pages are located on the lower tabs of the main screen. There are three types of information that can be stored on these pages: • Additional details, such as owner information that cannot be stored anywhere else. • Date-stamped notes. • Automatically generated notes which are added whenever a letter or document is

generated.

3.5.2 Reminders/Diary system

On the desktop, there are Reminder tags connected to the Owner, Property, Tenant and Trust account pages. The page contains a grid showing all the reminders that are attached to the particular record (Owner, Property, Tenant or Trust account ledger).

New reminders may be added and the data in the grid may be edited and changed. To review and manage reminders, use the Reminder item accessed from the File pull-down menu. The grid shows the reminders that fall within the date shown on the calendar and the number of days indicated. Clicking the mouse on the appropriate position on the calendar will change the calendar date. Click on any date in the month, or use the large up and down arrows to change the month. The up and down arrows on the keyboard can also be used. For a hard copy of the reminders that occur during the period, click on the Report button.

3.5.3 Check-lists

This feature is used to assist property managers by producing lists of items to be checked and completed, without having to resort to many sheets of paper. The Check-lists are different to the Reminder system in that they provide a standard list of tasks that need to be done when certain events occur. For example, when a tenant vacates a property the Check-list provides a list of tasks to be done. These items are different to Reminders, in that they may not have a particular date by which they are due, but they must be completed nevertheless. Check-lists may be attached to any of the following database records: • Owners


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• Tenants • Sales of properties • Vendor advertising accounts

3.6 WORK ORDERS AND CREDITORS

3.6.1 Work orders

Work orders are documents that authorise and document the work to be done on a property. The Work order system can be accessed from the Creditor pull-down menu. Here you can enter the details of work to be carried out on a property. A document may then be printed out and sent to the contractor. A history of orders for a property can be previewed from the Work order tab under each property record.

Note: The contractor must exist as a creditor in the system.

3.6.1.1 To enter a new work order

• Click on the New order button and select the appropriate property and creditor. • Enter the price in the Price field. • Select Estimated, Quoted, or Maximum as the Price type. • Normally the Status of the order will start of as Entered. Once printed, it will be changed

automatically to Ordered. You may change the status of the order if required. • In the Work details field you can enter a description of the work to be carried out. • Click on the Post button.

3.6.1.2 To modify an existing order

• Locate the order using the Search button. • Change the details in the required field. The creditor or property may not be changed.

3.6.1.3 To print an order

• If necessary, locate the order using the Search button. • Click the Print order button. • Confirm that the order has printed and the status will be changed from Entered to

Ordered.


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3.6.1.4 To cancel an order

• Locate the order using the Search button. • Click on the Cancelled radio button. • Once a work order has been paid, using the Creditors system, the status of the order will

automatically be changed to Paid.

3.6.2 Creditors

Creditors are parties to whom payment is made for services rendered, e.g. plumbers, electricians and maintenance contractors. They can also be service providers such as shires, councils, water authorities and insurance companies.

3.6.2.1 Adding new creditors

To add a new creditor to the system, select Maintain from the Creditor pull-down menu. Here you can add, delete and edit Creditor details. A history of transactions for individual creditors can also be printed. The screen on the right lists the creditor details that can be stored. For the Pay by transfer facility to work, it is necessary that the correct BSB and account numbers for the creditor are entered and also that the main program is set up to allow for electronic payments.

3.6.2.2 Adding Creditor accounts

This section allows the user to enter and store details of Creditor accounts even if there are insufficient funds in the owner’s account. The amounts are not immediately withdrawn from the owner’s account. The Creditor payment program can be run periodically and will make payments whenever sufficient funds are available.


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The system allows for payments to be made by cheque or electronic transfer. Refunds (Credit notes) are entered as negative account amounts. Refunds can only be processed against positive accounts from the same creditor. These refunds can only be processed via the Creditor accounts from owner funds screen.

To add, delete, or amend accounts in the system, select Accounts from owner funds from the Creditor pull-down menu. Locate the creditor using the Search button. The Append button adds a new account record to the creditor’s accounts. Complete the details: • The invoice or reference number and

the date of the invoice. • Locate the property. • Locate the disbursement code. • Enter any additional details, which will

be printed on the Owner statement. • If there are any unpaid Work orders for

the selected property, for this creditor, they will appear in the pull-down list.

• Enter the amount inclusive of GST. If a work order has been selected, the estimated price will appear by default. If this invoice amount differs significantly, then it may be necessary to query the difference.

• Enter the GST amount. • Priority is set to 5 by default. If there are no funds, the account will be held for payment.

If it is required that an invoice has priority for payment over other owner accounts, then set it at a lower number. You may also choose to hold payment of the account until a specific date.

The Delete button will delete the currently indicated account item. The Pay button will pay the current creditor for items where there are sufficient owner funds. Normally payments are made in a batch using the Pay creditors item, but this can be useful when a single creditor needs to be paid.


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Pay Creditor accounts

• The Creditors accounts outstanding report gives the user the option of printing the report in two ways. The first lists accounts that can be/will be paid first (in creditor order), followed by a listing of those that cannot be/will not be paid (also in creditor order). The second option displays accounts in creditor order and shows all accounts paid/held/not paid interspersed.

• A check-box gives the option of automatically printing remittance advices.

• Creditors cannot be deleted once there has been an account entered for them.

• A progress bar shows the status of the printing/payment process.

Remittance advice for Creditors

The Direct banking screen gives you the option to select the number of days since the transaction was processed in order to print the remittance slip. Where you make and send your electronic payment files on the same day, this function will not apply. However, small offices that allow payments to accumulate during the month before making the file, may

need to increase the number of days to above ten.

Creditor payment details

When Creditor accounts are processed, details of the transaction are prefixed with an asterisk *. This notation is an indicator that a remittance advice slip can be printed for this payment.

3.7 OWNER CHARGES

Owner charges are a way of debiting the owner’s account for irregular expenses and charges. Regular expenses such as management fees, sundries, cheque charges and GST are automatically charged. Charges can also be refunded to an owner by entering negative amounts. This may be necessary if an owner has been incorrectly charged for a lease fee that should have been charged to another owner. Refunds are processed individually from the Owner charges screen. Charges such as leasing fees, annual statement fees, fax expenses, etc., are debited from the owner’s account and credited to a nominated Fees type Trust ledger. During Period end processing these funds will automatically be included in the payment to the business.


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Advertising expenses should be charged to the owner as an account with your agency entered as a creditor. This is especially so if the owner’s record has the Add GST box ticked.

As with the Creditors system, these charges can be entered, even though the owner may not have sufficient funds to cover them at the time. When the charges are processed the program will journal all charges where there are sufficient funds in the owner’s account. Where there are insufficient funds, the charges will be held on file until funds are available.

Owner charges may be either inclusive or exclusive of GST. If the Add GST check-box on the Owner page has been checked, 10% GST will automatically be added.

3.8 END OF DAY PROCEDURE

3.8.1 Daily backup

The importance of carrying out a daily backup cannot be stressed enough. Suppose your office was unfortunate to suffer a fire, or a burglary and the daily backup had not been made. Without a backup copy of your data the consequences could be catastrophic for the business. GeeDee for Windows provides a fast and efficient way to ensure that you always have a copy of your current data in the form of the daily backup. Your set of backup disks should include separate disks for every trading day, i.e. Monday–Saturday, as well as a disk for each month January–December. Furthermore, each disk should be reformatted regularly to ensure that it is not corrupted and is in good working order. Backups must be carried out at the end of every day. Most systems will not take more than one diskette, and the entire process will take less than two minutes.


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The End of day procedure is accessed from the File pull-down menu. By selecting End of day, the program will first produce a report of the day’s transactions and then display the Backup and restore screen. The screen will indicate if there are any other users logged onto the system and will not allow you to proceed if this is the case. A backup can only be made once all other users are logged out of GeeDee. Insert a diskette into your floppy drive and click the Backup button. GeeDee will then proceed to backup a copy of all your data files onto your disk. A second ‘insurance’ copy will then be written to the hard drive of your computer. Finally, the system will carry out a re-indexing of all data files and then confirm that the backup has been successful.

3.8.2 Restore

You will rarely be required to carry out a Restore procedure, as this should not be done without a valid reason. A data restore should only be necessary in the case of severe corruption of your data or if your backup disk was faulty or corrupt. From the File pull-down menu select the Restore from backup, etc. item. A screen similar to that of the End of day backup will be shown. With your backup disk in the drive, press the Restore button. The date and time of the backup will appear on the screen, you will prompted to confirm that you really wish to restore and will be asked to confirm your request. Once the data has been restored successfully, the system will automatically re-index and you may then proceed.


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SECTION 4 TRUST ACCOUNTING AND SALES

SECTION OUTLINE

In this section we will look at procedures that may not necessarily be the task of the property manager. It is nevertheless important that all operators have at least a basic understanding of these procedures. • Reversing and reissuing cheques • Bank statement reconciliation • The Trust account system and Trust account ledgers • Sales trust accounting • Sale details • Vendor paid expenses • Interest bearing deposits • Trust account reports • Period end processing

4.1 REVERSING AND REISSUING CHEQUES

Both facilities can be found in the Cheque toolbox, which is accessed from the Banking pull-down menu. The Cheque toolbox lists all cheques that are currently unpresented.

DO NOT REVERSE A CHEQUE JUST BECAUSE IT DID NOT PRINT. The Reverse button reverses the currently selected cheque. Only cheques issued in the current period can be reversed, and any cheque, which has already been reconciled, cannot be reversed. After the reversal, a reverse transaction will appear together with the original cheque transaction. The transactions will not appear on Owner statements.


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DO NOT REISSUE A CHEQUE JUST BECAUSE IT DID NOT PRINT. The Reissue button cancels the original cheque in the system, replaces it, and prints another with a new cheque number. This can be useful for cheques that have been lost. The original cheque is cancelled in the Bank reconciliation and the operator must place a stop payment on it at the bank. Cheques that have been reconciled cannot be reissued. SYSTEM PRINTS ON WRONG CHEQUE. If the cheque printer has the wrong cheque loaded and as a result the cheque number in GeeDee is different to the printed cheque then the cheque number can be incremented or decremented by using the buttons at the bottom of the Cheque toolbox screen.

4.2 BANK STATEMENT RECONCILIATION

Each time a cheque, deposit, or journal is made in the system that affects the bank account, a record is placed in the Bank reconciliation system. This program allows the operator to check off the items appearing on the bank statements as they are received from the bank. For a statement balance to close, the opening balance plus all the credits less all the debits must equal the closing balance. It is not possible to start the reconciliation of the next page until the current page has been reconciled. The Bank statement reconciliation program is accessed from the Banking pull-down menu. The amount and the date of the opening balance of the statement will be on the top of the screen. These are the closing values that were previous reconciled. Once a statement is balanced, the closing balance becomes the opening balance for the next statement.

To reconcile a statement balance, use one page at a time and then: • Enter the date of the closing balance. • Enter the amount of the closing balance. • For each debit that appears on the statement, click on the check-box in the grid. Once all

the debits on the statement have been flagged, then the total of the debits displayed at the bottom of the form must equal the total of the debits on the statement.

• Click on the Credits radio button and the grid will show all the outstanding credits.


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• For each credit that appears on the statement, click on the check-box in the grid. Once all the credits on the statement have been flagged, then the total of the credits displayed at the bottom of the form must equal the total of the credits on the statement.

• Once the total credits and debits equal those on the statement, the To reconcile field will be zero, and a message will appear on the screen advising that the page balances. Press the print button for a reconciliation report and all the items that have been flagged will then be retired, and will not appear in the grid again.

• The closing date, balance and any flagged transactions remain stored in the reconciliation even if it is exited prior to being rolled over.

• If an item is dated after the closing statement date is flagged, a warning will be given and the operator will be given the option of whether or not to flag the item.

4.2.1 Correction journals

It can happen that there are items on the Bank statement, which do not appear in the reconciliation grid. These can be items such as bank fees incorrectly charged to the Trust account and dishonoured cheques. A Correction journal can temporarily overcome the problem of a statement that will not balance because there is an item on the statement that does not match the reconciliation. Note that the Correction button is located at the bottom of the Bank statement reconciliation screen as displayed above. A Correction journal will create both a debit and a credit. Do not use this just to make the statement balance. There must be a valid reason. • From the Statement reconciliation form, click the Correction button. • Enter the amount and the reason for the journal. • Enter the password and press the OK button. After this has been completed, either a credit or a debit item will be outstanding on the reconciliation. This is the other half of the correction journal that has been created. On a future statement, an entry must appear which can be reconciled against the outstanding item.

4.3 THE TRUST ACCOUNT SYSTEM AND TRUST ACCOUNT LEDGERS

When the main Trust account button is selected the screen displays all the Trust account ledgers. The ledgers work on the principle of a double entry accounting system. Every transaction in the system involves a credit and a debit account. When any transaction is processed, one account is credited with the value of the transaction and the other is debited. Certain account numbers are reserved by the system for the internal processing. For most receipts, payments, etc. the Trust account ledger system works behind the scenes, automatically updating its ledgers. For example, a Tenant receipt for rent and bond will generate two receipt transactions, one for the rent and the other for the bond. There are seven types of accounts in the system. System These accounts are required for transaction processing within the property

management system. System accounts cannot be edited or changed by operators.Fees These accounts are designated for the accumulation of various property

management fees. During the Period end processing, any funds in these accounts are paid to the business account, and the balance returns to zero.

Debit These accounts are for funds that are held externally for various purposes. The


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balance can never be in credit. Credit These accounts are used to hold funds for various purposes. The balance can

never be in debit. Sales These accounts are specialised Credit accounts that are used to hold funds for

sales deposits. Vendor These accounts are specialised Credit accounts that are used to hold funds for

Vendor paid advertising. VO These accounts are specialised Credit accounts that are used to hold funds for

variable outgoings if the Commercial system is used.

Searching for a Trust account

Trust account ledgers can be searched for by either their name or ID number.


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4.4 SALES TRUST ACCOUNTING

The Trust account system that is used for property management, also handles all aspects of Sales trust accounting. Using this system, all trust accounting is carried out under the umbrella of one set of accounts. The combining of the two accounts reduces the workload and confusion associated with receipting, banking, bank reconciliations and auditing requirements. Accounting for sales in the GeeDee System is carried out through the Trust account button and the Trust account pull-down menu. Sales ledgers are automatically allocated an account/ledger number in the 10,000 range to separate them from non-sale type accounts.

4.4.1 New Sales trust ledgers

There are two ways to create a new Sales trust ledger. To set up the ledger prior to receiving a deposit (file/documents only) • From the Trust account pull-down menu select New. • From the drop-down list select the type as Sale.


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• GeeDee will allocate the next available account ID number (10000 and upwards).

• Enter the property address and the name of the vendor.

• Enter the name of the purchaser, if known.

• Click on the Post button and the new Sales trust ledger will be created.

• Enter all relevant information into the Sale details page.

To set up the ledger when a deposit has been received (with the file/document) • From the Trust account pull-down

menu select Property sale deposit. • Enter the property address and the

name of the vendor. • Enter the name and address of the

purchaser. • Enter the amount of the deposit and

then payment details. • Click on the Post button and the new

Sales trust ledger will be created. • Click on the Yes button when the

system offers to process the receipt. • Enter all relevant information into the

Sale details page.

Once you have created the account/ledger for a property sale, you may process receipts and payments for the sale.

4.5 SALE DETAILS

Select the relevant Trust account ledger and click on the Sale details tab. Input all the relevant details and then generate letters to the parties concerned. These will be recorded on the ledger for that sale. The due dates for deposit, finance and settlement will also be recorded in the Reminders file.


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These details also form part of the reports that can be generated for Property sales.

Select the Trust account button. All trust accounts can be viewed. The ID number for Sales trust ledgers will be 10,000 and higher. You can use the scroll bar to the right of the desktop to locate a file, or alternatively use the Search T/A button on the navigator bar where you can search for a ledger by their name or ID number. Note that A/C 1 (the Trust bank account) has a positive balance (debit balance). The credit balances (negatives) are the amounts you are holding in trust and for which you are responsible. The debit balances show where those amounts are held.


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4.5.1 Dishonoured cheques (Sales deposits)

If a sales deposit cheque deposited in the Trust account is dishonoured, follow the receipt reversal procedure. Refer to the Banking drop-down menu.

A Bank reconciliation journal will be posted and balanced with the dishonoured entry that will appear on the bank statement.


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Click on the lower tab named Transactions. Current and History transactions are displayed for the selected trust ledger. Note: The opening balance plus the sum of all the month’s transactions equals the current balance.

4.6 VENDOR PAID EXPENSES

As an agent, you may be required to hold funds in your trust account for vendors who wish to pre-pay selling expenses on a property. The system allows you to set up accounts for these funds, administer them, and give the vendor a statement of account. Expenses may be paid from your business account and then reimbursed by using the facilities in the Vendor paid expenses menu. It is essential to be able to enter the initial estimates of expenses before receiving the final accounts. In this way, it is possible to keep track of the balance of an account, so that the limit available is not exceeded. There are a number of programs associated with this function available from the Trust account drop-down menu.

4.6.1 Vendor advertising receipts

Use this function to receipt funds from a vendor and create a separate Trust account ledger for the funds. The ledger will be automatically numbered by the system, starting at 50000. The account type created is Vendor.

• Enter the details in the fields as indicated.

• Press the Post button. Depending on the method of payment, the funds may appear in the Daily banking, or as a credit journal in the Bank reconciliation if they have been receipted directly into the trust bank account.

• After the initial deposit, use the Trust account receipt to deposit additional funds into a Vendor account.

Entering expenses

Expenses are entered into this section in two stages. • When the expense is created. • When the Creditors invoice or statement is received.


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In this system, expenses are not paid directly to the creditor. It is assumed that they are initially paid out of the business account, and then funds are transferred back to the business account in batches. Expenses are entered against creditors, so there is a small database of creditors used for Vendor expenses. This is independent of that used for the Property management system. To add or modify creditor details, press the Add or modify Creditor details button on the Vendor accounts screen and a small dialog box will appear which will enable you to modify or add Creditor details. • Identify the creditor for the expense from the top scroll list. If the creditor does not exist,

use the Add or modify Creditor details button to create one. • When the expense is made, enter it into the system using the Add button. Enter the

amount of the expense as Estimated at this stage. • When the invoice is received, identify the item that has been entered as an estimate, and

enter its Actual expense. Note: The system will not make payment against an estimated amount. It holds payment until the actual amount is entered from the invoice. The Report item will print out a report of all unpaid invoices in the system. The Delete button will delete the current expense line in the grid. After an expense item has been paid the line will disappear from the grid. To directly pay funds out of a Vendor account to the business (your general account) use the Trust account payment item from the Trust account drop-down menu.

4.6.2 Vendor expense reports

These reports are for use by the sales staff so that they have an accurate assessment of the funds that have been spent and are available for Vendor paid accounts. If this report is printed regularly, they will know exactly how much has been spent, and how much remains on these accounts. The report can be in either detailed or outline format. The Detailed report lists all the creditor transactions on the account and the Outline report only shows the balance of each account.


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4.7 INTEREST BEARING DEPOSITS

For large deposits that are to be held for some time, a purchaser may request that the funds be placed in an Interest bearing account. The GeeDee System has the facility to handle and account for such a situation.

The example below illustrates the procedure to follow when the deposit is received.

• Assume that a deposit of $30,000 is received. • Open a Sales ledger as usual, e.g. Trust account ledger 10046. • From the Trust account pull-down menu select Trust account receipt. • Select the type as IBA deposit and receipt the deposit. • From the Trust account pull-down menu select Trust account payment. • Issue a Trust account payment from Trust account ledger 15. • Make the cheque payable to the bank. • Trust account 10046 will still show a credit of $30,000. • Trust account 15 will show $30,000 as a Debit account. • The bank balance (Trust account 1) will be reduced by $30,000.

When the deposit plus interest earned is returned from the bank.

• From the Trust account pull-down menu select Trust account receipt. • Receipt $30,000, being the principal amount to T/A 15. • And for example $150.00 interest to the relevant Sales ledger (10046). • Disburse the $30,000 as required (deposit less commission, etc.). • Draw a cheque for the interest to the purchaser.

4.8 TRUST ACCOUNT REPORTS

The GeeDee System is able to produce many useful reports. It is suggested that all operators make themselves familiar with these reports by either printing or at least


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previewing them. The transaction reports listed below are among the most important as they are required for audit purposes. • Trust account ledgers report • Cash book journal (Bank trust account) • Trust account trial balance • Owner trial balance • Bonds held report • Bank reconciliation report

4.9 PERIOD END PROCESSING

This is the once a month procedure when all accounts are processed, fees are deducted, owners are paid their amounts due and the system is rolled over ready for a new month of transactions. This process is usually carried out at the end of a month, although this is not a requirement as it is possible to carry out this process on any day of the month that suits your requirements. DO NOT CONFUSE PERIOD END PROCESSING WITH END OF MONTH AUDIT REPORTING REQUIREMENTS. Month-end or Period end processing is not accessed from the main GeeDee Desktop. It has a separate program icon that appears as a pile of gold coins.

Before commencing this procedure, it is necessary to complete certain functions in the main GeeDee System. These functions are detailed below:

• Complete a balanced Bank reconciliation report.

• Process all Owner charges. • Process all Creditor accounts. • Close the Daily banking. • Print Owner tax invoices.


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Once these steps have been completed, close the GeeDee System and enter the Period end processing program, confirm that the items have been completed and then print the EOP preview report. Completing this procedure is a simple process carried out by a number of steps that are automatically performed one at a time by clicking the sequenced buttons. The program screen is set out with three groups of buttons. Each button in each group accesses a separate program item which must be carried out in the order on the screen.

4.9.1 Owner processing

Before commencing, all other users must exit the GeeDee System. No further processing can be carried out until the period-end process is complete. • Backup data to disk Backs up the data to diskette. • Owner trial balance Prints a list of owner balances and fees, etc. • Print final statements Prints a final copy of the Owner statements. • Print owner cheques Prints all owners’ cheques.

4.9.2 Fees and electronic payments

This group processes all the management fees, etc, and makes a final payment to the business account for all outstanding fees for the period. • Process management fees Calculates fees and produces a summary report. • Payment to business Produces a cheque for all fees, etc. collected. • Direct payments file If using electronic payments, this will make the file. • Audit reports Prints all reports as required for audit purposes. • Roll-over Sets up the system to be ready for the next period.


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4.9.3 End of month audit reporting requirements

It is a requirement under the Real Estate and Business Agents Act to close and balance the accounts of all your Trust accounts as at the end of each month. The definition of the ‘end of each month’ is literally midnight on the last day of each month. The GeeDee System recognises when it has been opened in a new month for the first time and will prompt the operator to print a list of all the required reports. Additionally, it will prompt the operator to make a separate backup of the data at that point in time. The backup disk(s) should be filed with the printed reports, separate from the Period end processing reports. The following end of month Audit reports printing screen will be displayed:

The following is the automatic Backup screen prompt:


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SECTION 5 TRUST ACCOUNT AUDITS

5.1.1 Annual duties of an agent regarding trust account audits

Agents who hold a current triennial certificate must cause the trust accounts to be audited by the approved auditor and the audit report lodged with REBA (section 70(1)). If the agent has not held any trust funds during the year, then the agent is not required to have an audit and must instead lodge a statutory declaration to this effect (section 86). All audit reports or statutory declarations (as appropriate) are required to be lodged within 3 months of the end of each calendar year. It is the auditor’s responsibility to deliver the audit report to REBA. Refer: Real Estate and Business Agents Act 1978 section 70(3)

5.1.2 Appointing an auditor

Before an agent can receive or hold any trust money the agent must appoint an auditor. To comply with section 72(3) of the Act, an agent must disclose to REBA any relationship by blood or marriage, or any business dealing, with their nominated auditor. REBA will consider each instance of disclosure on a case-by-case basis. Where an auditor has a relationship to an agent by blood or marriage there is a clear conflict of interest that could endanger the auditor’s independence. Where an auditor has business dealings with an agent, REBA will consider the facts in each case, however, generally REBA will disqualify an auditor where that auditor also acts as the agent’s general accountant. In certain circumstances, for example in rural areas, a suitably qualified auditor may not be available. In such cases REBA may notify the agent of its intention to disqualify the auditor and the agent is then given the opportunity to outline the reasons why the auditor should be retained. To audit an agent’s trust account, a person must be a registered company auditor, under Part 9.2 of Corporations Law. In regional areas where no qualified company auditors are available, REBA may approve another person with appropriate qualifications as an auditor. Refer: Real Estate and Business Agents Act 1978 section 72(2)

5.1.3 Responsibilities to the auditor

As part of the audit process, the agent is required to prepare a statement for the auditor. This statement should show details of all money held, as well as deposit receipts and negotiable or bearer securities that are held in the name of the agent and represent monies in the


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agent’s trust account. The statement made by the agent must be verified by statutory declaration. In the statement to the auditor, the agent is required to provide full details of the trust accounts held, including:

• details of the name/s, account number/s and financial institution name and branch name where the trust account/s are maintained (this reporting requirement also applies to clients’ separate interest bearing trust accounts and tenancy bond trust accounts); and

• the balance held in each trust account as at the audit date.

After examining this statement, the auditor will return the statement to the agent together with the audit report. A copy of the agent’s declaration and statement of balance for each trust account is required to be attached to the audit report and submitted to REBA. All trust account records must be made available to the auditor at every audit or when the auditor reasonably requests. The agent is required to provide to the auditor an annual statement and the previous year’s statement, verified by statutory declaration. Refer: Real Estate and Business Agents Act 1978 section 80, section 81

5.1.4 Duties of an auditor

An auditor must audit trust accounts in accordance with accepted auditing practice, including selective testing when the auditor considers it appropriate. The auditor must also be satisfied that the trust records are kept in accordance with the requirements of the Act and the Regulations. The audit of an agent’s trust account/s is a compliance audit and materiality does not apply. On completion of an audit the auditor is required to deliver the original audit report to REBA. Generally, the audit report must be delivered to REBA by 31 March each year. That is, within 3 months of the end of the audit period, which is from 1 January to 31 December. If the auditor identifies any relevant issues, it is their duty to report them to REBA. The auditor is also required to provide copies of any management letters issued to the agent and attach these to the audit report. The REBA publication “Guidelines for Auditors” can assist auditors and agents in understanding the requirements for an audit of an agent’s trust account. Refer: Real Estate and Business Agents Act 1978 section 70(2)


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5.1.5 How to respond to an auditor’s recommendations

An agent must promptly implement any recommendations made by the auditor where the recommendations arise from a breach of the Act or the Regulations. REBA looks upon any breaches of the trust account provisions very seriously. If an agent considers the recommendations to be unfair or unreasonable, the agent may write to REBA stating the objections and requesting REBA’s consideration.

5.1.6 Changing an auditor

An agent must continue to employ the statutory appointed auditor unless REBA approves a change in the appointment. Agents seeking to change their statutory appointed auditor must lodge an application with REBA not later than 1 month after the end of the year to be audited. For example, where the audit period expires on 31 December 2003, an application must be received by REBA by 31 January 2004. Applications for a change of auditor will not be accepted after this time due to the proximity with the due date for provision of the annual audit. All agents seeking to change their statutory appointed auditor must provide to REBA:

1. A written request from the agent requesting the change of the appointed auditor, together with reasons for the change. 2. A letter from the current auditor relinquishing statutory responsibility and either including a statement to the effect that “there is nothing that they are aware of that should be brought to REBA’s attention,” or describing any impediments placed upon the conduct or scope of the audit. 3. A letter of acceptance of appointment from the proposed replacement auditor.

REBA does not consider that delays caused by a change in the appointment of auditors is an acceptable reason for granting an extension in time for the submission of the audit report. Refer: Real Estate and Business Agents Act 1978 section 73(3)

5.2 CLOSING A REAL ESTATE AGENCY

The closing of a real estate agency can be a complex matter. Some guidelines are provided below but it is recommended that you seek legal and accounting advice to address all of the issues involved. If the business is licensed as a partnership or body corporate, written notification must be given to REBA of the date of closure and surrender of the licence and triennial certificate of the business. If the business is being conducted by a sole trader, written notification must be given to REBA of the cessation of use of the business name. The agent’s triennial certificate should also be returned to REBA for endorsement.


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As well as advising REBA, the nominated auditor of the business must also be advised of the closure of the business and all clients of the business should be notified. In addition:

• where the property management portfolio of the agency is being transferred or purchased by another agency/entity, the incoming agency must obtain a new written authority from the registered proprietor or authorised person of each property under management before any monies can be transferred to the new agent’s trust account; • where there is a change to the entity which owns the business, and/or transfer or closure of a business, a termination audit of the agency which is ceasing to carry on business must be carried out within 3 months of the change occurring (the auditor must deliver a termination audit report to REBA within 2 months after the end of the 3 month period); • if funds held in the trust account cannot be disbursed within 3 months following the closure of the agency, they may be disbursed to another agent or solicitor’s trust account upon written agreement by the parties who own the funds; • if unclaimed monies remain in the trust account they may be disbursed in accordance with the provisions of the Unclaimed Monies Act 1990 (see below); and • all accounting records must be kept for not less than 6 years from the date on which the money was received.

Refer: Real Estate and Business Agents Act 1978 section 70(8)

5.3 UNCLAIMED TRUST MONIES

Unclaimed monies that are held in any one account for a period of not less than 6 years as at 31 December must be notified to the Western Australian State Treasurer (the Treasurer). Under the provisions of section 8 of the Unclaimed Monies Act 1990, these monies are to be notified to the Treasurer not later than 31 January in the succeeding year. Agents should contact the Treasurer if they wish to transfer funds under the Unclaimed Monies Act 1990 before the 6 year time period. There are separate provisions under the Residential Tenancies Regulations 1989 for the disposal of unclaimed security bonds (regulation 15). If 6 months has elapsed since the termination of a residential tenancy agreement and the bond has not been disposed of in accordance with schedule 1 of the Residential Tenancies Act 1989, then the bond holder must give notice in writing to the owner and the tenant in whose names the security bond is held. If after 60 days from the date of the notice the security bond is still in the hands of the bond holder then the bond holder should pay the amount to the Unclaimed Security Bond Account. This is an account in the Rental Accommodation Fund. Agents who require further information on this should contact the Bond Administrator at the Department of Consumer and Employment Protection.


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SECTION 6 PREVENTING THEFT AND FRAUD

6.1 INDICATORS OF THEFT AND FRAUD

Unfortunately, as in any other business, thefts and fraud can occur from within a real estate agency. In the majority of cases these acts are committed by an employee of an agency and often the person in charge of the agency is not aware of the activities of that person. Commercial criminals are likely to identify and target organisations perceived as being “soft” targets. A proactive approach to prevention is essential and there are certain tools and techniques available to make an agency a “hard target” (eg. Advise staff on induction that it is agency policy to refer all criminal issues to the police). Further, it is in the interests of the agency and in particular the person in bona fide control to ensure that proper control and supervision of staff takes place since they have strong legal responsibilities in relation to the protection of trust account money. The agent could even be responsible for reimbursing money misappropriated by employees. The person in bona fide control can do much to limit the possibility of theft and fraud of trust funds, and other money, by putting in place some internal controls and early indicators. If one or more of the following seems familiar, the agency could have a problem:

• original supporting documents for transactions are missing;

• documents have been altered;

• outstanding or incomplete account reconciliations;

• high level of debtor write-offs;

• large volume of credit notes, or unexplained credit notes;

• deteriorating financial position; or

• auditor’s access to people or information is restricted. Agents cannot rely solely on statutory appointed auditors to identify theft and fraud in their agency. The misappropriation can be effected well before an annual audit is performed. The auditor also relies on the accounting work within the agency, which may have been falsified by the perpetrator. It is recommended that agents discuss internal control mechanisms with their statutory appointed auditor. Some common problem areas can be addressed by the person in bona fide control:

• making periodic checks of the work of employees;

• involving themselves in bank reconciliations;

• maintaining control over cheque books and receipt books; and

• understanding and operating the computer system.


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An independently managed whistle-blowing facility (telephone, fax or e-mail) can also be an effective and relatively cheap way in which to encourage honest employees to report suspicions of theft or fraud to their superiors.

6.2 COMPUTER SYSTEMS

Acts of theft and fraud also occur in agencies where computer systems are used. This can occur when the agent is not conversant with the system in use or does not monitor staff that has access to the system.

6.2.1 Areas to watch:

• the creation of new ledger accounts;

• the use and authorisation of transfer journals;

• the procedures in place for dispatch of cheques;

• the validity and payment of tradesmen or other expenses; and

• that cheques are being drawn only when there are sufficient funds.

6.2.2 Main problems to emerge from some computer based systems

• Use of pre-coded receipts (or potential receipts) are produced by the computer for every transaction prior to the receipt of money. Upon receipt of payment, the processing of the transaction automatically generates a new advance receipt. The main problem with this system is that while receipts are generated sequentially, they are not issued and accounted for sequentially.

•The order that transactions are printed within the ledger. It is possible for a debit balance to appear in the ledger that is not a “true debit balance”. This occurs where a payment and receipt relating to a particular trust ledger account occur on the same day, and the computer prints the payment before the receipt. There are several major systems available that prevent a payment being processed if the client ledger does not have sufficient funds to cover the payment.


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6.2.3 Examples of internal controls

• The person in bona fide control should be conversant with all computer systems used to maintain records and accounting systems for trust funds and not rely on 1 or 2 staff members. • Maintain backup copies of computer records and store off-site as these records are invaluable, particularly if there is a theft or fire at the agency’s premises.

6.3 BANK RECONCILIATIONS

The trust account is required to be balanced correctly and the accounting records held within the agency should balance with the reconciled balance held by the bank at least at the close of business each month. Incorrect balances from the bank statement have been used to falsify monthly reconciliations and effect a reconciliation between the cash book, bank account and client trust ledger balances. The person in bona fide control should examine daily receipts against daily bankings to detect short bankings in which cash received today is used to cover up money misappropriated yesterday. The person in bona fide control should make periodical checks of the banking and the procedure for correctly balancing the accounts. The person in bona fide control should check for false invoices by ensuring that the font and other aspects of the invoices are consistent. Any warnings provided by the computer system should be followed up immediately.

6.3.1 Transfer journal

All adjustments and variations between the cash book and bank statement should be verified.

6.3.2 Receipt books

Maintain strict control of all receipt books, particularly with those not currently in use. This will make it as difficult as possible for any person to issue a receipt improperly and embezzle a client’s money. Sequence check deposits against receipts each month and establish receipt cancellation procedures.


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6.3.3 Agency management

The employee who manages the accounts should not be responsible for banking the money. In larger offices, duties should be rotated between employees so that their activities are monitored by others in the agency. Ensure that employees take holidays and that other staff take over their duties whilst they are away. Periodically review work of an employee who has sole responsibility for the computer system. Where possible the person receiving trust funds and issuing receipts should not be the person charged with the preparation and banking of trust funds. Prohibit the use of IOUs by personnel. Establish procedures for the follow up of outstanding monies, with attention to the division of duties between personnel handling queries from clients and those involved in the cash transactions. As part of the policies of the agency, make it clear to new employees that misappropriated funds will be reported to the police immediately and that internal control systems, including obtaining copies of cheques that have been presented to the bank, are in place.

6.3.4 Cash payments or cheque payments

All payments from the trust account should be by cheque or authorised electronic transfer. All cheques that are drawn should have a supporting invoice or documentation. Ensure that cheques are crossed “Account Payee only – Not Negotiable” or replace “bearer only” with “order”. The person in bona fide control should be a compulsory signatory to the trust account, or a system should be put in place to review cheques that are issued on the trust account. Restrict access to the trust account cheque book. Ask for a printout of the cheques and make sure that the cheque numbers are consecutive (sometimes theft occurs when an employee issues or takes cheques from the bottom of the cheque book). If the agency operates more than one trust account and therefore more than one cheque book, each cheque book should be readily identifiable to the account to which it relates. Periodically obtain copies of presented cheques from the bank to check for forged cheques.

6.3.5 Trust account management

Trust accounts must not be treated as the agency’s general bank account. Trust funds must be paid out to the rightful owner as soon as possible after the completion of a transaction. Commissions on sales should be paid into the agency’s general account as soon as settlement has occurred. Disbursements should not be made from the trust account containing unclaimed commissions. Agents should draw commissions from the trust account after settlement and pay them into the agency’s account from which disbursements can be made.


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Where landlords are overseas or interstate, arrangements should be made to transfer any funds owed to the landlord’s bank account. If large amounts of money are allowed to accrue in a trust account, the risk of theft and the scale of the potential theft is increased. Transaction payments and receipts should be checked daily. Trust cheques should not be used to pay general agency costs.

6.4 FRAUD OR THEFT - PROCEDURE

If an agent becomes aware that money has been stolen from the trust account, the agent should:

• notify REBA, advising the date on which the theft occurred, the amount involved, the reason for it and any action taken to correct it; • contact the auditor to conduct a special trust audit to attempt to quantify the amount of the misappropriation and possibly identify the culprit; • contact the Commercial Agents Squad or Fraud Squad and advise them of the misappropriation of trust monies and that a special audit is being conducted; • if possible, replace the misappropriated amount immediately; • alert your professional indemnity insurer; and • if you operate under a franchise agreement, inform the franchisor.


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SECTION 7 PRACTICAL EXERCISES By using the demonstration data, this section provides students the opportunity to ‘try-out’ the system by carrying out transactions that will occur on a regular basis.

7.1 NEW OWNER, PROPERTY AND TENANT

• Using your family or friends’ details input the information required for a new owner and a new property. Use your own details for the tenant.

• The lease taken is for 12 months from 1 January 2000 and the rent is $180.00 per week. After the first six months the rent will increase to $190.00 per week.

• Create a new owner and a new property for Mr N. Vestor. He owns a rental property at 51 Grubb Street, Como.

• The property has been let to Harry Housefly for 6 months at $250.00 per week.

7.2 TENANT RECEIPTS

• Using the information of the new tenant you created in 5.1, enter and process a Tenant receipt for the ‘moving-in’ costs. The new tenant paid the following amounts:

Two weeks’ rent $360.00 Letting fee $180.00 Bond $720.00 Stamp duty $ 33.50

• Using Harry Housefly from 5.1, enter and process a Tenant receipt for the ‘moving-in’ costs. Harry Housefly paid the following amounts:

Two weeks’ rent $500.00 Letting fee $250.00 Bond $1000.00 Stamp duty 60.25

• Mrs Redburg, the tenant from 51a Murdock Avenue comes in to pay her rent. She pays $220.00 for 2 weeks’ rent by personal cheque from the ANZ Perth.

• Mrs S Prance, the tenant at 12 Gibson Street pays one month’s rent in advance. She

pays with $500.00 in cash and $583.33 by personal cheque from the NAB Maylands.

7.3 OWNER RECEIPTS

• Mr and Mrs Boggins, the owners of 10 Downing Street are expecting accounts for painting carried out at the property. The rent will not be sufficient to cover the cost, so they have sent in a cheque. Enter and process an Owner receipt for $1000.00.


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• Randy and Pickles Difficult, the owners of 78 Hilton Terrace have instructed you to have the roof replaced on the property. As the rent received will not be sufficient to cover the cost of the job they have sent you a cheque so that you may pay the account. Enter and process an Owner receipt for $2750.00.

7.4 PROPERTY RECEIPTS

• After processing a claim, you receive a cheque from ABC Insurance for glass breakage at 12 Gibson Street. Enter and process a Property receipt for $350.00.

• Last month you paid $775.00 to Pete’s Plumbing Service for work carried out on 95B Tuart Street. The plumber miscalculated the total cost and has sent you a refund cheque for the difference. Enter and process a Property receipt for $145.00.

7.5 REVERSING RECEIPTS

• Before closing the Daily banking, you notice that Mrs Redburg has not signed her $220.00 cheque. You are unable to contact her so that she can come in and sign the cheque. Therefore, you must reverse the receipt.

• After closing the Daily banking, you realise that the $290.00 on receipt number 15031 has been allocated to the wrong tenant. The $290.00 was receipted to Mrs Junior, when in fact it should have been receipted to Mr and Mrs McAlpine. Reverse the receipt as negative cash and re-receipt the funds to the correct tenant.

• You receive notice from the bank that the last cheque received from O’Grady & Melsom for $100.00 has been dishonoured. Reverse the receipt as a dishonoured cheque. GeeDee will automatically place a debit journal in the Bank reconciliation so that you will have a transaction to match the entry when it appears on your statement.

7.6 DAILY BANKING

• Preview the printout and close the Daily banking.

7.7 TENANT ACCOUNTS

• After an inspection of the property at 37 Silly Street, you arranged for the carpets to be cleaned at the tenant’s expense. Enter and process a Tenant account for Mr Gibbons and then print/preview the invoice.

• Mr Cash, the tenant at 66 Tricky Court agreed to pay for the cost of rubbish removal from the property. Enter and process a Tenant account for Mr Cash and then print/preview the Tenant statement.

7.8 TENANT WATER CONSUMPTION

• Using the account from the Water Company in the associated documentation supplied, enter and process a Water consumption account for Mrs D Junior of 47 Holloway Street.


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7.9 TENANT STAMP DUTY

• Process a payment to the Commissioner of State Tax for all stamp duty currently being held and print/preview the assessment form.

7.10 TENANCY BONDS

• Transfer the bond being held for Harry Housefly to the Bond trust account. • Transfer the bond being held for O’Grady & Melsom to the Bond Administrator. • Transfer the bond being held for Mrs F Brown back from the Bond trust account. • Distribute Mrs Brown’s bond as follows:

Rent $120.00 Carpet cleaning $ 80.00 Water consumption $ 30.00

• Process a Bond refund for $100.00 for Mrs Brown and print/preview a Bond statement.

7.11 OWNER STATEMENTS

• Print/preview a preliminary Monthly statement for Mr N Vestor. • Print/preview a History statement and a Summary statement for the financial year to date

for Mr and Mrs Piston.

7.12 RENT ARREARS AND OTHER ALERTS

• Print/preview the various reports and letters available in this area so that you become familiar with the functions that are available from within Alerts.

7.13 REMINDERS AND CHECK-LISTS

• Using the demonstration data, try setting various Reminders and see how they appear in the calendar/diary. You should also make yourself familiar with the various Check-list items.

7.14 WORK ORDERS AND CREDITORS

• Enter and process a new Work order for 5 Millers Way. You have requested Kangaroo Carpet Cleaning to contact the tenant and carry out the job as soon as possible. You estimate that the work will cost $150.00.

• You receive the account from Kangaroo Carpet Cleaning for $150.00. Change the status of the order to Invoiced and enter the account into the Creditors system.

• Process a Creditor payment to Kangaroo Carpet Cleaning for the account. • Print/preview the Pay creditors report. • You receive an account from Larry’s Loppers for tree lopping at 36 Gibson Street. You

may not use Larry’s services again. Pay this account as a Property disbursement.


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7.15 OWNER CHARGES

• Enter and process Inspection charges for 13 First Avenue and 36 Gibson Street. • Enter a charge of $25.00 for fax expenses for Miss Bashful the owner of 95B Tuart Street. • Enter a charge of $150.00 for leasing fees for Mr Chance the owner of 1 Seaside Drive. • Print/preview the Process owner charges report.

7.16 END OF DAY PROCEDURE

• Print/preview the Daily transaction report. • Backup your data to floppy disk.

7.17 REVERSING/REISSUING CHEQUES

• Kent’s Plumbing call to advise you that they have lost the cheque you sent in payment for work carried out. Call the bank and place a stop on cheque 2730 and reissue a new cheque in its place.

7.18 BANK RECONCILIATION

• Using the statement in the associated documentation supplied, enter and process the Bank reconciliation. If necessary, you may be required to create Correction journals. Once reconciled, print/preview the Reconciliation report.

7.18.1 RESPONSIBILITIES OF A TRUST ACCOUNT MANAGER

Using the relevant Act references summarise the responsibilities of a Trust Account Manager.

7.19 SALES TRUST ACCOUNTING

• Create a new Sales ledger and input the following information. Use your own details as vendor with the purchasers being Jack and Jill Hill of 27 Rhyme Road, Dianella. No deposit has been received at this time.

• Create a new Sales ledger and input the following information. Use your own details as Vendor with the purchasers being Dick and Dora Primary of 43 School Road, Beldon. The deposit of $10,000 is with the file and settlement is due in 42 days.

• Create a new Sales ledger and input the following details. VENDOR: ADDRESS: PURCHASER ADDRESS: DEPOSIT: SETTLEMENT:

Tom Brown 21 Politic Street, Como (Sale Property) James & Mary Smith 3 Knox Street, Duncraig $25,000 – paid 65 days


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• The purchaser has supplied a written request that the deposit be transferred to an Interest

bearing account (IBA). • Jack and Jill Hill have sent a cheque for the deposit on 27 Rhyme Road, enter and

process the Trust account receipt. • Your agency has successfully negotiated the sale of 27 Dalton Road on behalf of Mr

Cheating to Mrs Lucky. Proceed as follows: o Create a new Trust ledger. o Receipt part deposit of $5000 received from Mrs Lucky. The deposit consists of:

A cheque from Mr G. Lucky (ANZ Bank, Como) for $3700. A cheque from Mrs V Lucky (BankWest, Fremantle) for $1300.

o Select Banking from the drop-down menu and click on Daily banking deposit.

Confirm that the deposit has been entered correctly by viewing the Daily banking. o Print/preview the Trust account trial balance and note the changes. Note the new

Ledger details and the increase in the Bank trust account balance. o The balance of the deposit, being $2500, is received in the mail from Mrs Lucky

(BankWest, Fremantle). o The settlement agent has advised that settlement will take place shortly and has

requested the deposit held, less your commission, be forwarded. Return to the Trust Account drop-down menu and select Trust payment. Process a Trust account payment for the sum of $1800 to Prudential Settlements.

o Advice is received that settlement of the dealing Cheating to Lucky has been finalised. Process a Trust payment to your agency’s General account for the amount of the commission $5700.

o From the Trust account drop-down menu select Ledger reports. Click on selected account followed by Start. Select Ledger 27 Dalton Road – Cheating and click on OK then OK to print/preview.

7.20 SALES DETAILS AND VENDOR PAID ADVERTISING

As this course has been designed with property managers in mind, additional features specific to Sales trust accounting have not been covered in detail. However, it is recommended that all staff using the GeeDee System take time to make themselves familiar with all aspects of the program.

7.21 PERIOD END PROCESSING

Using the tutorial supplied on the CD and the demonstration data, it is recommended that all staff using the GeeDee System make themselves familiar with the Period end processing procedure.


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© Copyright GeeDee Realty Systems 2003 - Unauthorised copying prohibited.

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SECTION 8 ASSOCIATED SAMPLE DOCUMENTATION

8.1 STATUTORY AUDIT REPORTS

• Trust Account Trial Balance ..................................................................... A - 1 • Bank Reconciliation Report (1) ................................................................. A - 2 • Bank Reconciliation Report (2) ................................................................. A - 3 • Cash Book ................................................................................. A - 4 • Daily Banking Deposit Slip ....................................................................... A - 5 • Owner Ledgers ................................................................................. A - 6 • Owner Non Zero Balances ....................................................................... A - 7 • Bond Listing …………………………………………………………………… A – 8 • Trust Account Ledgers …………………………..…………………………… A - 9 • Tenant Funds Held Against Future Accounts ........................................... A - 10

8.2 OTHER DOCUMENTS

• Bank Statement for Practical Exercises ................................................... A -11 • Trust Trial Balance after IBA deposit and Daily Banking .......................... A -12 • Bonds To Administrator Summary............................................................ A -13 • Bond Transfer To Bond Trust Account Fax Form..................................... A -14 • Bond Transfer To Trust Account Fax Form .............................................. A -15 • Tenant Bond Statement............................................................................ A -16 • Check List Reports (4) ............................................................................. A -17 • Creditor History Reports ........................................................................... A -18 • Daily Transaction Report .......................................................................... A -19 • DEFT File Report ................................................................................. A - 20 • Tenant Direct Depositors.......................................................................... A - 21 • Tenant - Manual Payments ...................................................................... A - 22 • Direct Debit Report ................................................................................. A - 23 • End Of Period Preview Report ................................................................. A - 24 • Income Summary Report.......................................................................... A - 25 • Owner Banking report............................................................................... A - 26 • Owner Current Statement......................................................................... A - 27 • Owner History Statement ......................................................................... A - 28 • Owner Summary Statement ..................................................................... A - 29 • Owner Tax Invoice ................................................................................. A - 30 • Owner Master Report ............................................................................... A - 31


8-2

• Owner Properties ................................................................................. A - 32 • Owner Charges ................................................................................. A - 33 • Creditors Accounts Outstanding............................................................... A - 34 • Property Key ID Report ............................................................................ A - 35 • Property Master Report ............................................................................ A - 36 • Property Master Report by Suburb ........................................................... A - 37 • Rent Roll Valuation Report ....................................................................... A - 38 • Tenant Master Report............................................................................... A - 39 • Inactive Tenants ................................................................................. A - 40 • Electricity Invoice ................................................................................. A - 41 • Gas Invoice ................................................................................. A - 42 • Tenant Invoice ................................................................................. A - 43 • Tenant Statement ................................................................................. A - 44 • Tenants Accounts Outstanding ................................................................ A - 45 • Water Invoice ................................................................................. A - 46 • Water Calculation Sheet........................................................................... A - 47 • Vacancy List (2) ................................................................................. A - 48 • Reminder Listing ................................................................................. A - 49 • Stamp Duty Assessment .......................................................................... A - 50 • Work Order ................................................................................. A - 51 • Strata Roll ................................................................................. A - 52 • Sale Commission Report.......................................................................... A - 53 • Vendor Paid Advertising Reports (5) ....................................................... A - 54 • Owner Trial Balance Report .................................................................... A - 55

Da t e : 11/03/2003 Ti m e : 3:35:51 PM

GeeDee - Real EstateTrust Account Trial Balance

Primary Accounts

A/C No Type Account Name Opening DR Opening CR Current DR Current CR1 Debit Trust Bank Account 14418.41 18580.572 Debit Daily Banking 875.00 3986.853 System Landlord Funds 5997.60 9100.064 Fees BAD/GST Collections 5 System Direct Banking 112.206 Fees Rent Commission 2.507 System Bonds Received 1340.00 2040.008 Fees Advertising 9 System Stamp Duty 35.50 72.35

10 Fees Letting Fees 360.0011 Fees Routine Inspection Fees 285.0012 Fees P.C.R. Inspection Fees 50.0013 Debit IBA Company Bonds 14 Debit Bonds Held External 540.00 640.0015 Debit Deposits Held External 16 Fees Commercial Management Fees 17 Credit Strata Company Commission 18 Fees Sundry Charges 83 Fees Barlor Advertising 92 Credit Jordan Pty Ltd 300.00 300.0094 Fees Dickson Advertising

10036 Sale 35 Belmont Parade, Kenwick 5000.00 5000.0010037 Sale 35 Bollig Street, Kenwick 10038 Sale 55 Plane Street 2500.00 32001 System Tenant Account Credits Held 225.0050000 Vendor 35 Belmont Parade Kenwick 1000.00 1000.0099001 V/O The Penny Arcade 2160.31 2160.31

Totals 15833.41 15833.41 23207.42 23207.42

V 2.4.0 (Build 10) Page 1

A-1


Da t e : 11/03/2003 Ti m e : 4:20:46 PM

GeeDee - Real EstateBank Reconciliation

25/02/2003 Opening Bank Statement Balance 40037.67

Plus Cleared DepositsDate Reference Details Debit Credit Balance

20/02/2003 452 Banking 6335.00 46372.6721/02/2003 453 Banking 1955.00 48327.6724/02/2003 454 Banking 2124.30 50451.9725/02/2003 455 Banking 2607.04 53059.0126/02/2003 456 Banking 6222.01 59281.0205/02/2003 457 Banking 2391.61 61672.63

Total Debits and Credits $ 0.00 $ 21634.96

Minus Cleared ChequesDate Reference Details Debit Credit Balance

30/10/2002 1801 Fred's Mowing 115.00 61557.6328/01/2003 1810 Mr L Baker 463.31 61094.3228/01/2003 1814 Mrs M Chesson 159.03 60935.2928/01/2003 1815 Mrs M & Mr C Dawson 381.94 60553.3528/01/2003 1821 Fred Stone 438.25 60115.1028/01/2003 1822 Tom King 245.03 59870.0728/01/2003 1824 George Prince 772.00 59098.0728/01/2003 1825 Mr M Martin 469.77 58628.3028/01/2003 1826 Ms J Chalmers 254.02 58374.2828/01/2003 1827 Mr Simon Harries 447.05 57927.2328/01/2003 1829 Margaret Jones 808.85 57118.3817/02/2003 1836 Kings Plumbing & Gas 156.00 56962.3821/02/2003 1839 Ms K & Mr A Honda 280.00 56682.3826/02/2003 1841 Control Air Conditioning 600.00 56082.3826/02/2003 1843 BMJ Fencing 285.00 55797.3826/02/2003 1844 BMW Tree Services 699.00 55098.3826/02/2003 1845 Bryan's Pest Control 220.00 54878.3826/02/2003 1846 City Roofing 189.00 54689.3826/02/2003 1847 City Waste 229.00 54460.38


Plus/Minus Cleared JournalsDate Reference Details Debit Credit Balance

29/01/2003 3648 Badley, Ms M E 140.00 54600.3830/01/2003 3649 Jetson, Ms J K 125.00 54725.3824/02/2003 3653 Dainty, Ms C M 100.00 54825.38


01/03/2003 Closing Bank Statement Balance 54825.38

Plus Outstanding DepositsDate Reference Details Debit Credit Balance

03/03/2003 458 Banking 2100.00 56925.3804/03/2003 459 Banking 1365.51 58290.8905/03/2003 460 Banking 1483.65 59774.5411/03/2003 461 Banking 3986.85 63761.39


A-2.1


D a t e : 11/03/2003 T i m e : 4:20:46 PM


Minus Outstanding ChequesDate Reference Details Debit Credit Balance

28/01/2003 1808 CHU Insurance 281.40 63479.9928/01/2003 1812 Kevin Reilly 437.68 63042.3128/01/2003 1817 Mr M Kennedy 398.16 62644.1528/01/2003 1819 G Mason 774.46 61869.6928/01/2003 1820 Mrs G John 404.40 61465.2928/01/2003 1823 Hazel Harrison 470.80 60994.4928/01/2003 1831 Martin McComish 960.98 60033.5130/01/2003 1833 Weston Glass 139.00 59894.5117/02/2003 1837 GJD Property Services 90.00 59804.5121/02/2003 1838 Ms J K Jetson 60.00 59744.5121/02/2003 1840 Ms J L Monty 85.00 59659.5126/02/2003 1842 Antique Glass 85.00 59574.5126/02/2003 1848 EMD Building Insurance 775.00 58799.5126/02/2003 1849 Fred's Mowing 112.00 58687.5126/02/2003 1850 George Bush 136.00 58551.5126/02/2003 1851 Mick's Plumbing & Gas 465.00 58086.5126/02/2003 1852 Nifty Carpet Cleaning 90.00 57996.5126/02/2003 1853 Pool Masters 125.00 57871.5126/02/2003 1854 Will's Locksmith 480.00 57391.5126/02/2003 1855 Williams Electrical 490.00 56901.5128/02/2003 1856 Badger, Mrs P & Mr K 658.57 56242.9428/02/2003 1857 Brown, Mr A 274.93 55968.0128/02/2003 1858 Conway, Mr A 701.74 55266.2728/02/2003 1859 Fish, Mrs G 560.13 54706.1428/02/2003 1860 Hawthorn, Mrs K & Mr H 250.72 54455.4228/02/2003 1861 Hiller, Mrs J I & Mr W K 796.69 53658.7328/02/2003 1862 McGregor, Mr Patrick 17.46 53641.2728/02/2003 1863 Pitt, Mrs P & Mr C 189.92 53451.3528/02/2003 1864 Rainam, Mr N 470.52 52980.8328/02/2003 1865 GeeDee - Real Estate 3844.58 49136.2504/03/2003 1866 Antique Glass 85.00 49051.2504/03/2003 1867 Control Air Conditioning 100.00 48951.2505/03/2003 1868 EMD Building Insurance 155.00 48796.2505/03/2003 1869 Fred's Mowing 197.00 48599.2505/03/2003 1870 Mick's Plumbing & Gas 150.00 48449.25

Plus/Minus Outstanding JournalsDate Reference Details Debit Credit Balance

10/02/2003 840 Bond Trust Transfer 540.00 47909.2523/02/2003 1 Direct Payment Transfer 1003.68 46905.5724/02/2003 2 Direct Payment Transfer 695.00 46210.5728/02/2003 3 Direct Payment Transfer 23543.15 22667.4205/03/2003 853 Bond Trust Transfer 100.00 22567.42


A-2.2


Da t e : 11/03/2003 Ti m e : 4:20:46 PM


11/03/2003 Calculated Final Balance 22567.4211/03/2003 Trust Account Ledger No 1 Balance 22567.42

OPERATOR..........................:___/___/___ LICENSEE..........................:___/___/___


A-2.3


D a t e : 11/03/2003 T i m e : 4:21:06 PM


01/03/2003 Opening Bank Statement Balance 54825.38

11/03/2003 Closing Bank Statement Balance 54825.38

Plus Outstanding DepositsDate Reference Details Debit Credit Balance

03/03/2003 458 Banking 2100.00 56925.3804/03/2003 459 Banking 1365.51 58290.8905/03/2003 460 Banking 1483.65 59774.5411/03/2003 461 Banking 3986.85 63761.39

Minus Outstanding ChequesDate Reference Details Debit Credit Balance

28/01/2003 1808 CHU Insurance 281.40 63479.9928/01/2003 1812 Kevin Reilly 437.68 63042.3128/01/2003 1817 Mr M Kennedy 398.16 62644.1528/01/2003 1819 G Mason 774.46 61869.6928/01/2003 1820 Mrs G John 404.40 61465.2928/01/2003 1823 Hazel Harrison 470.80 60994.4928/01/2003 1831 Martin McComish 960.98 60033.5130/01/2003 1833 Weston Glass 139.00 59894.5117/02/2003 1837 GJD Property Services 90.00 59804.5121/02/2003 1838 Ms J K Jetson 60.00 59744.5121/02/2003 1840 Ms J L Monty 85.00 59659.5126/02/2003 1842 Antique Glass 85.00 59574.5126/02/2003 1848 EMD Building Insurance 775.00 58799.5126/02/2003 1849 Fred's Mowing 112.00 58687.5126/02/2003 1850 George Bush 136.00 58551.5126/02/2003 1851 Mick's Plumbing & Gas 465.00 58086.5126/02/2003 1852 Nifty Carpet Cleaning 90.00 57996.5126/02/2003 1853 Pool Masters 125.00 57871.5126/02/2003 1854 Will's Locksmith 480.00 57391.5126/02/2003 1855 Williams Electrical 490.00 56901.5128/02/2003 1856 Badger, Mrs P & Mr K 658.57 56242.9428/02/2003 1857 Brown, Mr A 274.93 55968.0128/02/2003 1858 Conway, Mr A 701.74 55266.2728/02/2003 1859 Fish, Mrs G 560.13 54706.1428/02/2003 1860 Hawthorn, Mrs K & Mr H 250.72 54455.4228/02/2003 1861 Hiller, Mrs J I & Mr W K 796.69 53658.7328/02/2003 1862 McGregor, Mr Patrick 17.46 53641.2728/02/2003 1863 Pitt, Mrs P & Mr C 189.92 53451.3528/02/2003 1864 Rainam, Mr N 470.52 52980.8328/02/2003 1865 GeeDee - Real Estate 3844.58 49136.2504/03/2003 1866 Antique Glass 85.00 49051.2504/03/2003 1867 Control Air Conditioning 100.00 48951.2505/03/2003 1868 EMD Building Insurance 155.00 48796.2505/03/2003 1869 Fred's Mowing 197.00 48599.2505/03/2003 1870 Mick's Plumbing & Gas 150.00 48449.25


A-3.1


D a t e : 11/03/2003 T i m e : 4:21:06 PM


Plus/Minus Outstanding JournalsDate Reference Details Debit Credit Balance

10/02/2003 840 Bond Trust Transfer 540.00 47909.2523/02/2003 1 Direct Payment Transfer 1003.68 46905.5724/02/2003 2 Direct Payment Transfer 695.00 46210.5728/02/2003 3 Direct Payment Transfer 23543.15 22667.4205/03/2003 853 Bond Trust Transfer 100.00 22567.42

11/03/2003 Calculated Final Balance 22567.4211/03/2003 Trust Account Ledger No 1 Balance 22567.42



A-3.2


Da t e : 11/03/2003 Ti m e : 4:29:24 PM

GeeDee - Real EstateCashBook

Date Type Ref No Details ... Amt Debit Credit BalanceOpening Balance 14418.41

03/03/2003 D 458 Banking 2 1 0 0 .0 0 1 6 5 1 8 .4 104/03/2003 D 459 Banking 1 3 6 5 .5 1 1 7 8 8 3 .9 204/03/2003 C 1866 Antique Glass 8 5 .0 0 1 7 7 9 8 .9 2

repair to back window 3 Dura Court 85.0004/03/2003 C 1867 Control Air Conditioning 1 0 0 .0 0 1 7 6 9 8 .9 2

Summer service 94 Fundly Pass 50.00Summer service 64 Bluebird Road 50.00

05/03/2003 J 853 Bond Trust Transfer 1 0 0 .0 0 1 7 5 9 8 .9 2Bond Deposited in Bond T/A Dainty, Ms C M 100.00

05/03/2003 C 1868 EMD Building Insurance 1 5 5 .0 0 1 7 4 4 3 .9 2Landlord insurance 178 Ninth Avenue 155.00

05/03/2003 C 1869 Fred's Mowing 1 9 7 .0 0 1 7 2 4 6 .9 2Initial mow-Reinvoice 30/4/01 23 Point Court 30.00Lawnmowing Front and Back 11 Blackswell Road 25.00Monthly Cut 3 Dura Court 30.00Lawnmowing 64 Bluebird Road 28.00Lawnmowing 23 Walls Place 32.00Lawnmowing 66 Vaude Avenue 19.00Lawnmowing 81 Papper Close 33.00

05/03/2003 C 1870 Mick's Plumbing & Gas 1 5 0 .0 0 1 7 0 9 6 .9 2Gas leak common area .Master Lilliput Lane 150.00

05/03/2003 D 460 Banking 1 4 8 3 .6 5 1 8 5 8 0 .5 711/03/2003 D 461 Banking 3 9 8 6 .8 5 2 2 5 6 7 .4 2

Closing Balance 22567.42TA Current Balance 22567.42


A-4


D a t e : 11/03/2003 T i m e : 3:41:48 PM

GeeDee - Real EstateDemonstration - Real Estate: Head Office

Bank Deposit No: 461 On: 11/03/2003

Deposits With: National Australia Bank, Applecross Account No: 123-456123456789

Receipt No Drawer Bank Branch Amount3676 Brian Hawkins 2 5 0 0 . 0 03678 Roys Records NAB PERTH 1 0 0 . 0 0

Total of 2 Cheques 2600.00Total Cash 1386.85

TOTAL BANKING 3986.85

Cash Receipt Details

3675 Ramsay, Mona 1 2 6 1 . 8 53677 Tolliver, Michael 5 0 . 0 03679 Mort, Mr M E Jones & Mr C H 3 5 . 0 03680 Hinder, Ms K Pleth & Mr J 4 0 . 0 0

Closed by: ___________________ __/__/____

Deposited by: ___________________ __/__/____


A-5


Date: 11/03/2003 Time: 3:41:11 PM

GeeDee - Real EstateTrust Account Ledgers

Owner Accounts - Residential South

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance37 Bad, Mrs R & Mr M No Transactions 1830.2444 Badger, Mrs P & Mr K Opening Balance 33.00

05/03/2003 4:15:58 P R T 3670 01/03/2003 14/03/200 Sutton, Mr A C 260.00 293.0005/03/2003 4:17:27 P J P 850 Property Inspection 30.00 263.00

42 Balloon, Mrs K F & Mr R Opening Balance 361.3404/03/2003 4:10:31 P J P 848 Inventory Fee 50.00 311.3404/03/2003 4:11:05 P R T 3664 28/02/2003 13/03/200 Plerk, Ms S 280.00 591.3405/03/2003 4:17:25 P J P 849 Final Inspection Fee 45.00 546.34

25 Brown, Mr A Opening Balance 66.3005/03/2003 4:18:59 P C P 1869 Lawnmowing 33.00 33.30

32 Conway, Mr A No Transactions 0.0047 Fiddock, Mr M No Transactions 175.881 Fish, Mrs G Opening Balance 265.25

04/03/2003 4:10:24 P J P 845 Property Inspection 30.00 235.2505/03/2003 4:16:55 P R T 3673 28/02/2003 13/03/200 Villa, Mrs L 260.00 495.25

17 Fletcher, Mr G Opening Balance 76.8004/03/2003 4:11:29 P R T 3666 28/02/2003 13/03/200 Zimer, Ms C Fergie & Mr M 260.00 336.80

27 Ford, Mr B A Opening Balance 0.0005/03/2003 4:26:48 P R T 3675 05/03/2003 18/03/200 Ramsay, Mona 350.00 350.0005/03/2003 4:26:48 P R T 3675 Letting Fee to Owner. 175.00 525.00

3 Fraser, Mr D S & Mrs J W Opening Balance 210.7005/03/2003 4:16:18 P R T 3671 27/02/2003 12/03/200 Old, Mrs E M And Mr G 290.00 500.7005/03/2003 4:16:18 P R T 3671 26/02/2002 10/10/200 Water Consumption-Remainder 39.95 540.6505/03/2003 4:16:18 P R T 3671 Required after inspection 90.00 630.65

5 Gray, Mr F P Opening Balance 19.0004/03/2003 4:12:22 P R T 3667 01/03/2003 07/03/200 Turley, Ms I 180.00 199.0004/03/2003 4:12:22 P R T 3667 04/12/2002 02/02/200 Electricity 53.01 252.0105/03/2003 4:18:59 P C P 1869 Lawnmowing 19.00 233.01

28 Hawthorn, Mrs K & Mr H Opening Balance 33.0004/03/2003 4:10:25 P J P 847 Property Inspection 30.00 3.00

26 Hiller, Mrs J I & Mr W K Opening Balance 372.3004/03/2003 4:10:19 P J P 842 Property Inspection 30.00 342.3004/03/2003 4:10:22 P J P 843 Property Inspection 30.00 312.3004/03/2003 4:10:23 P J P 844 Property Inspection 30.00 282.3005/03/2003 4:15:37 P R T 3669 03/03/2003 09/03/200 Quick, Ms K L 115.00 397.3005/03/2003 4:15:37 P R T 3669 19/08/2002 18/02/200 Water Consumption 38.70 436.0005/03/2003 4:18:49 P C P 1868 Landlord insurance 155.00 281.0005/03/2003 4:18:59 P C P 1869 Lawnmowing 32.00 249.00

31 Howard, Mr K Opening Balance 0.0005/03/2003 4:17:11 P R T 3674 04/03/2003 10/03/200 Judge, Mrs N & Mr S 140.00 140.00

6 James Mrs S P No Transactions 0.0036 Kelly, Mrs M & Mr C No Transactions 126.9121 Kerr, Mr G No Transactions 0.0011 Lanky, Mr G Opening Balance 400.45

05/03/2003 4:17:29 P J P 851 Property Inspection 30.00 370.4518 Large, Mrs M E Opening Balance 283.76

04/03/2003 4:10:24 P J P 846 Property Inspection 30.00 253.7604/03/2003 4:14:10 P C P 1867 Summer service 50.00 203.76

33 McGregor, Mr Patrick Opening Balance 400.6003/03/2003 4:07:27 P R T 3661 12/03/2003 18/03/200 Harry, Mr J A 145.00 545.6004/03/2003 4:13:45 P C P 1866 repair to back window 85.00 460.6005/03/2003 4:18:59 P C P 1869 Monthly Cut 30.00 430.60

46 Midland, Mr S & Mrs L Rogers, Mr Opening Balance 4.8904/03/2003 4:13:05 P R T 3668 01/03/2003 14/03/200 Bell, Smith Ms S D & Mr A M 290.00 294.8904/03/2003 4:14:00 P J P -51 Termite inspection and report 112.20 182.6904/03/2003 4:14:11 P C P 1867 Summer service 50.00 132.6905/03/2003 4:18:59 P C P 1869 Lawnmowing 28.00 104.69

50 Padbury, Ms C M Opening Balance 249.8805/03/2003 4:16:39 P R T 3672 21/02/2003 06/03/200 Simmy, Ms E J 250.00 499.8805/03/2003 4:18:59 P C P 1869 Lawnmowing Front and Back 25.00 474.88

39 Pitt, Mrs P & Mr C No Transactions 148.7051 Rainam, Mr N Opening Balance 30.30

05/03/2003 4:18:59 P C P 1869 Initial mow-Reinvoice 30/4/01 30.00 0.302 Salmon, Mr D B Opening Balance 631.00

03/03/2003 4:07:55 P R T 3663 28/02/2003 06/03/200 Poole, Ms M Snooke & Mr N 180.00 811.0005/03/2003 4:17:45 P J P 852 Leasing Fee 360.00 451.00


A-6.1


Date: 11/03/2003 Time: 3:41:12 PM


Owner Accounts - Residential South

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance24 Williams, Mrs M Opening Balance 0.00

04/03/2003 4:11:17 P R T 3665 28/02/2003 13/03/200 Underwood, Ms K Faul & Mr G 300.00 300.00


A-6.2


Date: 11/03/2003 Time: 3:41:12 PM


Owner Accounts - Stratas

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance52 The Owners Of Lilliput Lane Opening Balance 277.30

03/03/2003 4:07:07 P R T 3660 31/03/2003 30/06/200 Bond, Mr J 450.00 727.3003/03/2003 4:07:47 P R T 3662 31/03/2003 30/06/200 Moneypenny, Ms M 450.00 1177.3005/03/2003 4:19:17 P C P 1870 Gas leak common area 150.00 1027.30


A-6.3


Date: 11/03/2003 Time: 3:41:13 PM


Owner Accounts - Commercial

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance53 Lotsaloot, Mr Louie No Transactions 0.00

Total Opening Balances: 5997.60 Total Closing Balances: 9100.06


A-6.4


Date: 11/03/2003 Time: 3:39:08 PM

GeeDee - Real EstateOwner Balances

Non-Zero Accounts

Name ID Opening Bal. Closing Bal. Holiday HoldBad, Mrs R & Mr M 37 1830.24 1830.24 Badger, Mrs P & Mr K 44 33.00 263.00 Balloon, Mrs K F & Mr R 42 361.34 546.34 Brown, Mr A 25 66.30 33.30 Fiddock, Mr M 47 175.88 175.88 Fish, Mrs G 1 265.25 495.25 Fletcher, Mr G 17 76.80 336.80 Ford, Mr B A 27 0.00 525.00 Fraser, Mr D S & Mrs J W 3 210.70 630.65 Gray, Mr F P 5 19.00 233.01 Hawthorn, Mrs K & Mr H 28 33.00 3.00 Hiller, Mrs J I & Mr W K 26 372.30 249.00 Howard, Mr K 31 0.00 140.00 Kelly, Mrs M & Mr C 36 126.91 126.91 Lanky, Mr G 11 400.45 370.45 Large, Mrs M E 18 283.76 203.76 McGregor, Mr Patrick 33 400.60 430.60 Midland, Mr S & Mrs L Rogers, 46 4.89 104.69 Padbury, Ms C M 50 249.88 474.88 Pitt, Mrs P & Mr C 39 148.70 148.70 Rainam, Mr N 51 30.30 0.30 Salmon, Mr D B 2 631.00 451.00 Williams, Mrs M 24 0.00 300.00 The Owners Of Lilliput Lane 52 277.30 1027.30 TOTALS 5997.60 9100.06 0.00

Closing Balance + Holiday Rents Held = 9100.06


A-7


Date: 11/03/2003 Time: 3:39:32 PM

GeeDee - Real EstateBond Listing

All Residential Tenants

Tenant Name Property Rent Lease Date Received Vacated Not Deposite In Bond T/A In Admin A/ Admin Bond A/CBadley, Ms M E 324 Durham Drive $140.00/Week 12/07/2001 16/07/2001 31/03/2002 Bref 217/66Bell, Smith Ms S D & Mr A M 64 Bluebird Road $145.00/Week 13/07/2002 13/07/2002 680.00 1361/93 Blarney, Ms L Doog & Ms BC 94 Fundly Pass $135.00/Week 01/02/2003 06/03/2003 100.00 540.00Botham, Mr B 10 Scroll Pass $140.00/Week 10/08/2001 09/08/2001 30/12/2002 3272/99Budge, Mr DC 178 Ninth Avenue $115.00/Week 03/08/2001 09/08/2001 08/06/2002 460.00 3271/99Dainty, Ms C M 81 Papper Close $140.00/Week 08/07/2000 05/03/2003 100.00 Bref 888/97 Eve, Mrs S F & Mr D A 99 Bunford Street $135.00/Week 13/01/2000 16/01/2001 Bref 394/49Harris, Mrs L J 993 Trainly Way $145.00/Week 04/05/2001 07/05/2001 680.00 25178/88Harry, Mr J A 3 Dura Court $145.00/Week 24/04/2002 25/04/2002 680.00 28293/99 Harvey, Ms A Kirkwood & Mr P 77 Smith Court $115.00/Week 19/11/2002 04/12/2002 460.00 12577/93 Head, Ms J 73 Buckley Road $140.00/Week 09/08/2000 15/08/2000 06/11/2002 660.00 5606/88 Hinder, Ms K Pleth & Mr J 88 Plain Pass $155.00/Week 25/11/2002 27/11/2002 620.00 15433/93Honda, Ms K & Mr A 779 Bitter Road $125.00/Week 06/10/2000 03/11/2000 05/01/2003 9878/88Jetson, Ms J K 62 Boradleaf Drive $115.00/Week 02/08/2002 15/01/2003 Bref 715/29Judge, Mrs N & Mr S 324 Durham Drive $140.00/Week 11/04/2002 04/04/2002 560.00 24609/99June, Mr D Blooms & Ms S 334 Bluebottom Rise $155.00/Week 28/07/2002 25/07/2002 680.00 23474/84Lamb, Mr G & Mrs T 23 Point Court $145.00/Week 05/11/2002 05/11/2002 680.00 17337/93Lessy, Mr H A 21 Bucks Road $140.00/Week 05/03/2001 06/03/2001 560.00 18920/88Main, Ms D N 41 Nini Street $155.00/Week 13/06/2002 17/07/2002 720.00 1073/93Monty, Ms J L 24 Norma Street $145.00/Week 09/03/2001 19/03/2001 06/12/2001 18486/88 Mort, Mr M E Jones & Mr C H 24 Norma Street $150.00/Week 15/12/2001 17/12/2001 26/11/2002 700.00 11929/99 Old, Mrs E M And Mr G 77 Jilly Way $145.00/Week 19/06/2000 19/06/2000 580.00 22281/86Pillow, Mr J 77 Walls Place $110.00/Week 07/03/2001 07/09/2000 440.00 5649/88Plerk, Ms S 10 Scroll Pass $140.00/Week 10/01/2003 10/01/2003 560.00 14016/93 Poole, Ms M Snooke & Mr N 99 Bunford Street $180.00/Week 20/12/2002 25/12/2002 720.00 10930/93Quick, Ms K L 178 Ninth Avenue $115.00/Week 19/08/2002 30/08/2002 460.00 6388/93Rafter, Ms L B Davies & Mr D 9/778 Bypass Road $190.00/Week 10/06/2000 12/06/2000 04/11/2002 760.00 25648/86Ramsay, Mona 12 High Street $175.00/Week 05/03/2003 700.00Simmy, Ms E J 11 Blackswell Road $125.00/Week 27/09/2002 07/10/2002 480.00 9433/93Sinclair, Mr C 94 Fundly Pass $135.00/Week 23/10/2002 27/11/2002 31/01/2003 640.00 17339/93Staple, Miss V 23 Walls Place $220.00/Fortnight 02/09/2000 19/09/2000 440.00 6088/88Sutton, Mr A C 13B Swans Drive $130.00/Week 15/12/2001 17/12/2001 520.00 11921/99Tolliver, Michael 55 Simmons Street $150.00/Week 29/01/2003 600.00Towing, Mrs J B 54B Wren Place $110.00/Week 05/07/2002 11/07/2002 540.00 1990/93Turley, Ms I 66 Vaude Avenue $180.00/Week 02/11/2002 14/11/2002 720.00 17493/93 Underwood, Ms K Faul & Mr G 24 Norma Street $150.00/Week 07/01/2003 09/01/2003 600.00 14260/93 Villa, Mrs L 3 Smithwell Drive $130.00/Week 28/05/1999 28/06/1999 480.00 27595/84Willis, Mrs J & Mr K 667 Rapestery Way $140.00/Week 10/04/2001 12/04/2001 660.00 23491/88Young, Ms K G 994 Clore Way $606.66/Week 06/04/2001 19/04/2001 560.00 27753/88Zimer, Ms C Fergie & Mr M 56 Staple Way $130.00/Week 23/03/2001 15/08/2000 520.00 5608/88

Totals 1400.00 640.00 17820.00


A-8.1


Date: 11/03/2003 Time: 3:39:32 PM

GeeDee - Real EstateBond Listing

All Residential Tenants

Tenant Name Property Rent Lease Date Received Vacated Not Deposite In Bond T/A In Admin A/ Admin Bond A/C

Summary of Bond Account Status on 11/03/2003

Bonds Not Deposited $1400.00Bonds In Bond T/A $640.00 Bonds Held External T/A $640.00 Enter Bond Trust Statement Balance $_____________________._____

TOTAL Tenant Bonds $2040.00 Bonds Received T/A $2040.00

Certified that Bond Trust Statement Balance was Reconciled with the Bonds Held External T/A



A-8.2


Date: 11/03/2003 Time: 3:40:51 PM


Primary Accounts

Date Type Ref No A/C No Contra A/C Name Details Property/Tenant Debit Credit Balance2 Daily Banking - Opening Balance 875.00DR

03/03/2003 R 3660 3 The Owners Of Lilliput Lan Bond, Mr J Bond, Mr J 450.00 1325.00DR03/03/2003 R 3661 3 McGregor, Mr Patrick Harry, Mr J A Harry, Mr J A 145.00 1470.00DR03/03/2003 R 3662 3 The Owners Of Lilliput Lan Moneypenny, Ms M Moneypenny, Ms 450.00 1920.00DR03/03/2003 R 3663 3 Salmon, Mr D B Poole, Ms M Snooke & Mr Poole, Ms M Snook 180.00 2100.00DR03/03/2003 B 458 1 Trust Bank Account Daily Banking 2100.00 0.00CR04/03/2003 R 3664 3 Balloon, Mrs K F & Mr R Plerk, Ms S Plerk, Ms S 280.00 280.00DR04/03/2003 R 3665 3 Williams, Mrs M Underwood, Ms K Faul & Underwood, Ms K 300.00 580.00DR04/03/2003 R 3666 3 Fletcher, Mr G Zimer, Ms C Fergie & Mr M Zimer, Ms C Fergie 260.00 840.00DR04/03/2003 R 3667 3 Gray, Mr F P Turley, Ms I Turley, Ms I 180.00 1020.00DR04/03/2003 R 3667 3 Gray, Mr F P Electricity Turley, Ms I 53.01 1073.01DR04/03/2003 R 3667 6 Rent Commission Electricity Turley, Ms I 2.50 1075.51DR04/03/2003 R 3668 3 Midland, Mr S & Mrs L Rog Bell, Smith Ms S D & Mr A Bell, Smith Ms S D 290.00 1365.51DR04/03/2003 B 459 1 Trust Bank Account Daily Banking 1365.51 0.00CR05/03/2003 R 3669 3 Hiller, Mrs J I & Mr W K Quick, Ms K L Quick, Ms K L 115.00 115.00DR05/03/2003 R 3669 3 Hiller, Mrs J I & Mr W K Water Consumption Quick, Ms K L 38.70 153.70DR05/03/2003 R 3670 3 Badger, Mrs P & Mr K Sutton, Mr A C Sutton, Mr A C 260.00 413.70DR05/03/2003 R 3671 3 Fraser, Mr D S & Mrs J W Old, Mrs E M And Mr G Old, Mrs E M And 290.00 703.70DR05/03/2003 R 3671 3 Fraser, Mr D S & Mrs J W Water Consumption-Remai Old, Mrs E M And 39.95 743.65DR05/03/2003 R 3671 3 Fraser, Mr D S & Mrs J W Required after inspection Old, Mrs E M And 90.00 833.65DR05/03/2003 R 3672 3 Padbury, Ms C M Simmy, Ms E J Simmy, Ms E J 250.00 1083.65DR05/03/2003 R 3673 3 Fish, Mrs G Villa, Mrs L Villa, Mrs L 260.00 1343.65DR05/03/2003 R 3674 3 Howard, Mr K Judge, Mrs N & Mr S Judge, Mrs N & Mr 140.00 1483.65DR05/03/2003 B 460 1 Trust Bank Account Daily Banking 1483.65 0.00CR05/03/2003 R 3675 3 Ford, Mr B A Ramsay, Mona Ramsay, Mona 350.00 350.00DR05/03/2003 R 3675 7 Bonds Received Bond from Tenant. Ramsay, Mona 700.00 1050.00DR05/03/2003 R 3675 9 Stamp Duty Stamp Duty from Tenant. Ramsay, Mona 36.85 1086.85DR05/03/2003 R 3675 3 Ford, Mr B A Letting Fee to Owner. Ramsay, Mona 175.00 1261.85DR05/03/2003 R 3676 10038 55 Plane Street Deposit on Sale 2500.00 3761.85DR 11/03/2003 R 3677 32001 Tenant Account Credits He Tenant Account Credit Pay Tolliver, Michael 50.00 3811.85DR11/03/2003 R 3678 32001 Tenant Account Credits He Tenant Account Credit Pay Roys Records 100.00 3911.85DR11/03/2003 R 3679 32001 Tenant Account Credits He Tenant Account Credit Pay Mort, Mr M E Jones 35.00 3946.85DR11/03/2003 R 3680 32001 Tenant Account Credits He Tenant Account Credit Pay Hinder, Ms K Pleth 40.00 3986.85DR

4 BAD/GST Collections - No Transactions 0.00CR5 Direct Banking - No Transactions 0.00CR

04/03/2003 J -51 3 Midland, Mr S & Mrs L Rog Termite inspection and rep 64 Bluebird Road 112.20 112.20CR6 Rent Commission - No Transactions 0.00CR

04/03/2003 R 3667 2 Daily Banking Electricity Turley, Ms I 2.50 2.50CR7 Bonds Received - No Transactions 1340.00CR

05/03/2003 R 3675 2 Daily Banking Bond from Tenant. Ramsay, Mona 700.00 2040.00CR8 Advertising - No Transactions 0.00CR9 Stamp Duty - No Transactions 35.50CR

05/03/2003 R 3675 2 Daily Banking Stamp Duty from Tenant. Ramsay, Mona 36.85 72.35CR10 Letting Fees - No Transactions 0.00CR

05/03/2003 J 852 3 Salmon, Mr D B Leasing Fee 99 Bunford Street 360.00 360.00CR11 Routine Inspection Fees - No Transactions 0.00CR

04/03/2003 J 842 3 Hiller, Mrs J I & Mr W K Property Inspection 23 Walls Place 30.00 30.00CR04/03/2003 J 843 3 Hiller, Mrs J I & Mr W K Property Inspection 77 Walls Place 30.00 60.00CR04/03/2003 J 844 3 Hiller, Mrs J I & Mr W K Property Inspection 62 Boradleaf Drive 30.00 90.00CR04/03/2003 J 845 3 Fish, Mrs G Property Inspection 3 Smithwell Drive 30.00 120.00CR04/03/2003 J 846 3 Large, Mrs M E Property Inspection 94 Fundly Pass 30.00 150.00CR04/03/2003 J 847 3 Hawthorn, Mrs K & Mr H Property Inspection 41 Nini Street 30.00 180.00CR05/03/2003 J 849 3 Balloon, Mrs K F & Mr R Final Inspection Fee 10 Scroll Pass 45.00 225.00CR05/03/2003 J 850 3 Badger, Mrs P & Mr K Property Inspection 13B Swans Drive 30.00 255.00CR05/03/2003 J 851 3 Lanky, Mr G Property Inspection 334 Bluebottom Ris 30.00 285.00CR

12 P.C.R. Inspection Fees - No Transactions 0.00CR04/03/2003 J 848 3 Balloon, Mrs K F & Mr R Inventory Fee 10 Scroll Pass 50.00 50.00CR

13 IBA Company Bonds - No Transactions 0.00CR14 Bonds Held External - No Transactions 540.00DR

05/03/2003 J 853 1 Trust Bank Account Bond Deposited in Bond T/ Dainty, Ms C M 100.00 640.00DR15 Deposits Held External - No Transactions 0.00CR16 Commercial Management Fees - No Transactions 0.00CR17 Strata Company Commission - No Transactions 0.00CR18 Sundry Charges - No Transactions 0.00CR83 Barlor Advertising - No Transactions 0.00CR


A-9.1


Date Type Ref No A/C No Contra A/C Name Details Property/Tenant Debit Credit Balance92 Jordan Pty Ltd - No Transactions 300.00CR94 Dickson Advertising - No Transactions 0.00CR

10036 35 Belmont Parade, Kenwick - Bail No Transactions 5000.00CR 10037 35 Bollig Street, Kenwick - Simpso No Transactions 0.00CR 10038 55 Plane Street - Brian Hawkins No Transactions 0.00CR

05/03/2003 R 3676 2 Daily Banking Deposit on Sale 2500.00 2500.00CR32001 Tenant Account Credits Held - Te No Transactions 0.00CR

11/03/2003 R 3677 2 Daily Banking Tenant Account Credit Pay Tolliver, Michael 50.00 50.00CR11/03/2003 R 3678 2 Daily Banking Tenant Account Credit Pay Roys Records 100.00 150.00CR11/03/2003 R 3679 2 Daily Banking Tenant Account Credit Pay Mort, Mr M E Jones 35.00 185.00CR11/03/2003 R 3680 2 Daily Banking Tenant Account Credit Pay Hinder, Ms K Pleth 40.00 225.00CR

50000 35 Belmont Parade Kenwick - Char No Transactions 1000.00CR 99001 The Penny Arcade - Lotsaloot, Mr No Transactions 2160.31CR

Accounts 1 & 3 (Bank & Landlord Funds) have separate detailed ledgers.


A-9.2


Date: 11/03/2003 Time: 3:34:42 PM

GeeDee - Real EstateTenant Funds Held Against Future Accounts

As at 11 March 2003

Tenant Name ID No AmountHinder, Ms K Pleth & Mr J 116 40.00Mort, Mr M E Jones & Mr C H 92 35.00Roys Records 126 100.00Tolliver, Michael 130 50.00

Total Credits Held on behalf of tenants = $225.00


A-10


NOTIONAL AUSTRALIA BANK Account Statement WEST FREMANTLE WA THE MANAGER GEEDEE – REAL ESTATE

801 CANNING HIGHWAY APPLECROSS WA 6153

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- GEEDEE - REAL ESTATE REBA TRUST ACCOUNT TC 12345 Account No: 386-136 435645359 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Particulars Debit Credit Balance

Brought Forward 40,037.67 CR

CASH AND/OR CHEQUES 2391.61

1808 281.40

1812 437.68

1825 469.77

1826 254.02

1820 404.40

1814 159.03

DEPOSIT ID98424

140.00

DISHONOUR FEE 20.00

1817 398.16

DEPOSIT ID 29704 125.00

1822 245.03

1833 139.00

1821 438.25

TOTALS THIS PAGE

3246.74

2656.61

Issued Today – Page number 001

Final Balance

39,447.54 CR

A-11


Date: 11/03/2003 Time: 5:10:37 PM

GeeDee - Real EstateTrust Account Trial Balance

Primary Accounts

A/C No Type Account Name Opening DR Opening CR Current DR Current CR1 Debit Trust Bank Account 14418.41 17567.422 Debit Daily Banking 875.003 System Landlord Funds 5997.60 9100.064 Fees BAD/GST Collections 5 System Direct Banking 112.206 Fees Rent Commission 2.507 System Bonds Received 1340.00 2040.008 Fees Advertising 9 System Stamp Duty 35.50 72.3510 Fees Letting Fees 360.0011 Fees Routine Inspection Fees 285.0012 Fees P.C.R. Inspection Fees 50.0013 Debit IBA Company Bonds 14 Debit Bonds Held External 540.00 640.0015 Debit Deposits Held External 5000.0016 Fees Commercial Management Fees 17 Credit Strata Company Commission 18 Fees Sundry Charges 83 Fees Barlor Advertising 92 Credit Jordan Pty Ltd 300.00 300.0094 Fees Dickson Advertising

10036 Sale 35 Belmont Parade, Kenwick 5000.00 5000.00 10037 Sale 35 Bollig Street, Kenwick 10038 Sale 55 Plane Street 2500.00 32001 System Tenant Account Credits Held 225.0050000 Vendor 35 Belmont Parade Kenwick 1000.00 1000.00 99001 V/O The Penny Arcade 2160.31 2160.31

Totals 15833.41 15833.41 23207.42 23207.42


A-12


D a t e : 27/02/2003 T i m e : 9:44:38 AM

GeeDee - Real EstateTenant Bonds To Administrator Summary

Included in Cheque

Tenant Name Property Address AmountBlarney, Ms L Doog & Ms BC 94 Fundly Pass, Thornlie WA 6108 640.00Sinclair, Mr C 94 Fundly Pass, Thornlie WA 6108 640.00Towing, Mrs J B 54B Wren Place, KENWICK WA 6107 540.00

Total 1820.00

A-13


GeeDee - Real Estate801 Canning Highway Applecross WA 6153 Phone: 08 9364 6677Fax: 08 9364 7433

Licensee: Graham Darcy ABN: 123456789

Fax TransmissionThe Manager 27 February 2003National Australia Bank Applecross Fax No: 9364 7777

Transfer Authority Number: 854 Request the sum of $1300.00 be transferred as follows: From:Account 123-456-123456789 in the name of:-

Demonstration - Real Estate (ACN )T/A GeeDee - Real Estate REBA Trust Account TC -190542

To: Account: 123-456-987654321 in the name of:-Demonstration - Real Estate (ACN )T/A GeeDee - Real Estate REBA TENANCY BOND TRUST A/C TC -190542

Request our Transfer Authority Number 854 be included as part of the transaction details recording the above transfer.

Request advice by return facsimile confirming that the balance of account 123-456-987654321 will be $1940.00 when the above transfer has been transacted.

____________________________ ____________________________ Signed Signed

Faxed by: ___________________________ Signed

For Office Use Only

Ramsay, Mona $700.00Tolliver, Michael $600.00TOTAL AMOUNT $1300.00

A-14.1


Return Fax TransmissionTo: GeeDee - Real Estate 27/02/2003

801 Canning HighwayApplecross WA 6153

Fax No: 08 9364 7433

Reference to your Transfer Authority Number 854 dated 27/02/2003 transferring the sum of $1300.00

It is confirmed that the balance of account 123-456-987654321 will be $1940.00 when the referenced transfer has been transacted.

Signed: .....................................

For: National Australia Bank Applecross

A-14.2




Fax TransmissionThe Manager 11 March 2003National Australia Bank Applecross Fax No: 9364 7777

Transfer Authority Number: 856 Request the sum of $600.00 be transferred as follows: From:Account 123-456-987654321 in the name of:-

Demonstration - Real Estate (ACN )T/A GeeDee - Real Estate REBA TENANCY BOND TRUST A/C TC -190542

To: Account: 123-456-123456789 in the name of:-Demonstration - Real Estate (ACN )T/A GeeDee - Real Estate REBA Trust Account TC -190542

Request our Transfer Authority Number 856 be included as part of the transaction details recording the above transfer.

Request advice by return facsimile confirming that the balance of account 123-456-987654321 will be $800.00 when the above transfer has been transacted.

____________________________ ____________________________ Signed Signed

Faxed by: ___________________________ Signed

For Office Use Only

Tolliver, Michael $600.00TOTAL AMOUNT $600.00

A-15.1


Return Fax TransmissionTo: GeeDee - Real Estate 11/03/2003

801 Canning HighwayApplecross WA 6153

Fax No: 08 9364 7433

Reference to your Transfer Authority Number 856 dated 11/03/2003 transferring the sum of $600.00

It is confirmed that the balance of account 123-456-987654321 will be $800.00 when the referenced transfer has been transacted.

Signed: .....................................

For: National Australia Bank Applecross

A-15.2



Licensee: Graham DarcyABN: 123456789

27 February, 2003Ms L B Davies & Mr D Rafter 9/778 Bypass Road Burswood WA 6100

Tenant Bond Statement

For : Ms L B Davies & Mr D Rafter Property : 9/778 Bypass Road, Burswood WA 6100

Date Ref. Details Debit Credit27/02/2003 R3684 IA:Bond From Tenant ** 760.0027/02/2003 R3685 Rent :08/10/2002 - 14/10/2002 190.0027/02/2003 R3685 IA:Water Consumption 59.0027/02/2003 R3685 IA:Carpet Cleaning 125.0027/02/2003 R3685 IA:General Cleaning 67.0027/02/2003 R3685 IA:Garden Maint. 45.0027/02/2003 R3685 IA:Garden Maint. 74.0027/02/2003 C1873 Bond Refund 200.00

Tenant Reference Available If Required

A-16


Date: 10/03/2003 Time: 3:06:51 PM

GeeDee - Real EstateCheckList Report Outstanding Items

Owner/Tenant Name Item Date WhoOwnersBadger, Mrs P & Mr K Cut KeysFletcher, Mr G Water Reading Scheduled

Letter to Shire Letter to Water Corporation Letter to Insurance Company Letter to State Revenue To Let Advert

Tenants Harry, Mr J A PCR to Tenant

Signed PCR Returned Copy of Signed PCR to Tenant

Jetson, Ms J K Organise To Let Adverts*


A-17.1


D a t e : 10/03/2003 T i m e : 3:09:01 PM

GeeDee - Real EstateCheckList Report

Outstanding & Completed Items

Owner/Tenant Name I t e m D a t e W h oOwnersBadger, Mrs P & Mr K Copy of Authority to Owner 12/12/2001 GD

Organise Lawnmowing 12/12/2001 GDCut Keys

Fletcher, Mr G Copy of Authority to Owner 10/03/2003 ZXCWater Reading Scheduled Letter to Shire Letter to Water Corporation Letter to Insurance Company Letter to State Revenue Cut Keys 10/03/2003 ZXCTo Let Advert

TenantsHarry, Mr J A Copy of Lease to Tenant 10/03/2003 ZXC

PCR to Tenant Signed PCR Returned Copy of Signed PCR to TenantRequest Meter Reading* 10/03/2003 ZXC

Jetson, Ms J K Signed Vacating Notice Received* 10/03/2003 ZXCVacate Date On Computer* 10/03/2003 ZXCWritten Notice to Owner and Tenant* 10/03/2003 ZXCOrganise To Let Adverts*


A-17.2


D a t e : 10/03/2003 T i m e : 3:17:47 PM

GeeDee - Real EstateCheckList Report

Outstanding & Completed Items

Owner/Tenant Name I t e m D a t e W h oProperty Sales35 Belmont Parade, Kenwick Details Entered in Sales Book

Deposit Received 10/03/2003 ZXCPest Control Certificate Received Finance Approval to Purchaser S/A

55 Plane Street Details Entered in Sales BookWrite to Vendor & Purchaser Deposit Received 10/03/2003 ZXCPest Control Certificate Received Letter to Conjunctional Agent 10/03/2003 ZXCFinance Approval Received 10/03/2003 ZXCDeposit Less Commission TransferredCommission to Conjuctional Agent


A-17.3


D a t e : 10/03/2003 T i m e : 3:11:09 PM

GeeDee - Real EstateProperty Disbursement Check Listing

All Areas

Property Address Owner Name Rates LTax Water P.Ins L.Ins Gdn. Levy Mow Elec. Gas Pest Mort..Lilliput Lane - Unit 1 The Owners Of Lilliput La .Lilliput Lane - Unit 2 The Owners Of Lilliput La .Lilliput Lane - Unit 3 The Owners Of Lilliput La .Lilliput Lane - Unit 4 The Owners Of Lilliput La .Lilliput Lane - Unit 5 The Owners Of Lilliput La .Master Lilliput Lane The Owners Of Lilliput La10 Scroll Pass Balloon, Mrs K F & Mr R 11 Blackswell Road Padbury, Ms C M12 High Street Ford, Mr B A 13B Swans Drive Badger, Mrs P & Mr K 178 Ninth Avenue Hiller, Mrs J I & Mr W K21 Bucks Road Kelly, Mrs M & Mr C23 Point Court Rainam, Mr N23 Walls Place Hiller, Mrs J I & Mr W K24 Norma Street Williams, Mrs M3 Dura Court McGregor, Mr Patrick 3 Smithwell Drive Fish, Mrs G 324 Durham Drive Howard, Mr K 334 Bluebottom Rise Lanky, Mr G41 Nini Street Hawthorn, Mrs K & Mr H54B Wren Place Fiddock, Mr M 55 Simmons Street Bad, Mrs R & Mr M56 Staple Way Fletcher, Mr G Q Q 2 4 X X X X X X X62 Boradleaf Drive Hiller, Mrs J I & Mr W K 64 Bluebird Road Midland, Mr S & Mrs L Ro 66 Vaude Avenue Gray, Mr F P 667 Rapestery Way James Mrs S P 73 Buckley Road Ford, Mr B A Y Y 4 X77 Jilly Way Fraser, Mr D S & Mrs J W77 Smith Court Bad, Mrs R & Mr M77 Walls Place Hiller, Mrs J I & Mr W K779 Bitter Road Fish, Mrs G 81 Papper Close Brown, Mr A 874 Queens Road Kerr, Mr G88 Plain Pass Bad, Mrs R & Mr M Q Y Q 7 49/778 Bypass Road Gray, Mr F P94 Fundly Pass Large, Mrs M E 99 Bunford Street Salmon, Mr D B 993 Trainly Way Pitt, Mrs P & Mr C994 Clore Way Conway, Mr A The Penny Arcade - Shop Lotsaloot, Mr Louie The Penny Arcade - Shop Lotsaloot, Mr Louie The Penny Arcade - Shop Lotsaloot, Mr Louie The Penny Arcade - Shop Lotsaloot, Mr Louie

44 Properties Printed X = Pay for Owner, Q = Quarterly, S = Six Monthly, Y = Yearly, 1..12 = Month of Year


A-17.4


D a t e : 11/03/2003 T i m e : 8:48:58 AM

GeeDee - Real EstateCreditor History Report

All Creditors

Invoice Date Paid Property Details W/O Cheque AmountAON Risk Services

9687 08/02/2003 04/03/2003 993 Trainly Way Insurance 1875 115.00Billett Glass

3816 04/02/2003 06/03/2003 10 Scroll Pass Repair back window 58.00354 10/02/2003 06/03/2003 3 Smithwell Drive reglaze front door 112.00

BMJ Fencing3789 17/02/2003 04/03/2003 77 Jilly Way Repair to rear/side fence 1876 285.00

Bryan's Pest Control568 17/02/2003 06/03/2003 77 Smith Court Annual Fee 110.00587 17/02/2003 06/03/2003 23 Walls Place Annual Fee 110.00

City Roofing578 17/02/2003 04/03/2003 3 Dura Court Gutter clean & repair 1877 189.00

City Waste89688 26/02/2003 04/03/2003 56 Staple Way Unblock septic tank 1878 229.00

Control Air Conditioning1234 26/02/2003 04/03/2003 The Penny Arcade - Sh Service Air-con 1879 125.001234 26/02/2003 04/03/2003 The Penny Arcade - Sh Service AIr-Con 1879 125.001234 26/02/2003 04/03/2003 The Penny Arcade - Sh Service & Repair AIr-Con 1879 225.001234 26/02/2003 04/03/2003 The Penny Arcade - Sh Service AIr-Con 1879 125.00

George Bush1238 26/02/2003 06/03/2003 .Master Lilliput Lane Lawns for July 68.001297 26/02/2003 06/03/2003 .Master Lilliput Lane Lawns August 68.00

GJD Property Services96 16/02/2003 04/03/2003 .Master Lilliput Lane Repair gate on bin area 1880 48.00

5463 17/02/2003 04/03/2003 The Penny Arcade - Sh Repairs to rear door 1880 90.00Kings Plumbing & Gas

9658 17/02/2003 04/03/2003 The Penny Arcade - Sh Gas hot water repairs 1881 156.00Nifty Carpet Cleaning

56389 17/02/2003 04/03/2003 3 Smithwell Drive Carpet clean 1883 90.00Pool Masters

635 05/02/2003 04/03/2003 .Master Lilliput Lane Monthly service 1884 88.00684 15/02/2003 04/03/2003 178 Ninth Avenue Clean & chemicals 1884 75.00

RAC INSURANCE PTY LTD8514 18/02/2003 06/03/2003 .Master Lilliput Lane Strata Insurance 475.00

Trusty Lock and Key631 02/02/2003 04/03/2003 The Penny Arcade - Sh Re-key rear lock 1885 87.00

6318 08/02/2003 04/03/2003 .Master Lilliput Lane Repairs to unit 1 - rear d 1885 65.003216 08/02/2011 04/03/2003 11 Blackswell Road Install window locks 1885 245.00

Urban Fire Control275 03/02/2003 04/03/2003 .Master Lilliput Lane Check equipment 1886 185.00

Water Corporation04/03/2003 04/03/2003 99 Bunford Street CEDIRT 1890 -15.00

Will's Locksmith3684 26/02/2003 04/03/2003 .Master Lilliput Lane Install locks to Meter bo 1889 480.00

Williams Electrical545 02/02/2003 04/03/2003 The Penny Arcade - Sh Repair faulty p/point 1888 65.00526 26/02/2003 04/03/2003 11 Blackswell Road Repair wall outlet 1888 65.00528 26/02/2003 04/03/2003 23 Walls Place Install exhaust fan 1888 165.00532 26/02/2003 04/03/2003 56 Staple Way INstall exhaust fan 1888 165.00547 26/02/2003 04/03/2003 3 Dura Court Repair RCD 1888 95.00


A-18


D a t e : 10/03/2003 T i m e : 2:54:29 PM

GeeDee - Real EstateDaily Transactions Report

For : 10/03/2003

Date Reference Paid To/Received From Account Details Amount

Bankings27/03/2003 461 Trust Bank Account Daily Banking Daily Banking 6578.93

Cheques1871 Commissioner of State Revenu Stamp Duty Stamp Duty Payout 42.50

Stamp Duty Stamp Duty Payout 36.85Stamp Duty Stamp Duty Payout 35.50

Total 114.851872 The Bond Administrator Bonds Received Receipt from Bond Funds 640.00

Bonds Received Receipt from Bond Funds 640.00Bonds Received Receipt from Bond Funds 540.00

Total 1820.001873 Ms L B Davies & Mr D Rafter Bonds Received Receipt from Bond Funds 200.00

Journals854 Bonds Held External Trust Bank Account Bond Deposited in Bond T/A 700.00

Trust Bank Account Bond Deposited in Bond T/A 600.00Total 1300.00

855 Trust Bank Account Bonds Held External Direct Bank Transfer 540.00

Receipts3677 Tolliver, Michael Bad, Mrs R & Mr M Rent-05/03/2003 - 01/04/2003 600.003678 Staple, Miss V Hiller, Mrs J I & Mr W K Rent-19/02/2003 - 01/04/2003 660.00

Hiller, Mrs J I & Mr W K Water Consumption 23.10Total 683.10

3679 Zimer, Ms C Fergie & Mr M Fletcher, Mr G Rent-14/03/2003 - 27/03/2003 260.003680 Ms L B Davies & Mr D Rafter Gray, Mr F P Rent-22/09/2002 - 04/11/2002 1191.43

Gray, Mr F P Water Consumption 36.85Gray, Mr F P Water Consumption 45.70

Total 1273.983681 Old, Mrs E M And Mr G Stamp Duty IA:Stamp Duty From Tenant ** 42.503682 Towing, Mrs J B Bonds Received IA:Bond From Tenant ** 540.003683 Sinclair, Mr C Bonds Received IA:Bond From Tenant ** 640.003684 Ms L B Davies & Mr D Rafter Bonds Received IA:Bond From Tenant ** 760.003685 Rafter, Ms L B Davies & Mr D Gray, Mr F P Receipt from Bond Funds 190.00

Gray, Mr F P Receipt from Bond Funds 59.00Gray, Mr F P Receipt from Bond Funds 125.00Gray, Mr F P Receipt from Bond Funds 67.00Gray, Mr F P Receipt from Bond Funds 45.00Gray, Mr F P Receipt from Bond Funds 74.00

Total 560.003686 Ms E J Simmy Bonds Received IA:Bond From Tenant ** 500.003687 Staple, Miss V Hiller, Mrs J I & Mr W K Rent-02/04/2003 - 13/05/2003 750.00

Stamp Duty IA:Stamp Duty From Tenant ** 50.00Stamp Duty IA:Bond From Tenant ** 500.00Stamp Duty IA:Leasing Fee To Owner 150.00

Total 1450.003688 Plerk, Ms S Balloon, Mrs K F & Mr R Water Consumption -IA:Water 50.00

10/03/2003 3700 Simmy, Ms E J Padbury, Ms C M Water Consumption 20.00


A-19


D a t e : 11/03/2003 T i m e : 9:03:22 AM

GeeDee - Real EstateDEFT File Report

Residential Properties

DISCLAIMER: This report is produced in cases where your bank requires you to supply the Bank ID numbers for your tenants.It uses TenantID+10000 with a Mod10v02 checkdigit appended and is prepended with "0" to bring the length to 7 digits.IMPORTANT: The onus is on you to ensure that these numbers are acceptable to your bank's system as GEEDEE REALTY SYSTEMS will not be responsible for any direct or indirect loss incurred.

Tenant Name Address1 Suburb State P.Code BPayNo IDPillow, Mr J 77 Walls Place A R M A D A L E 0100495 49Main, Ms D N 41 Nini Street Beckenham W 0101063 106Lamb, Mr G & Mrs T 23 Point Court KENWICK 0101147 114Plerk, Ms S 10 Scroll Pass KENWICK 0101196 119Ramsay, Mona 12 High Street APPLECROSS WA 6153 16874 131

Number of Tenants=5


A-20


D a t e : 10/03/2003 T i m e : 2:59:08 PM

GeeDee - Real EstateTenant Direct Depositors All Areas - Kerry Simpson

Tenant Name Property Address Rent Per ID NoBadley, Ms M E 324 Durham Drive, KENWICK WA 610 140.00 Week 98424Bell, Smith Ms S D & Mr A M 64 Bluebird Road, East Victoria Park W 145.00 Week 11540Blarney, Ms L Doog & Ms BC 94 Fundly Pass, Thornlie WA 6108 135.00 Week 77773Bond, Mr J .Lilliput Lane - Unit 1, PERTH 6000 450.00 Quarter 000101212Botham, Mr B 10 Scroll Pass, KENWICK 6107 140.00 Week 18511Budge, Mr DC 178 Ninth Avenue, Armadale WA 6112 115.00 Week 81778Crown, Mr Thomas .Lilliput Lane - Unit 4, PERTH 6000 450.00 Quarter 000101246Dainty, Ms C M 81 Papper Close, Gosnells W A 6110 140.00 Week 10807Eve, Mrs S F & Mr D A 99 Bunford Street, Bentley WA 6102 135.00 Week 54496Gulliver, Mr G .Lilliput Lane - Unit 3, PERTH 6000 450.00 Quarter 000101238Harris, Mrs L J 993 Trainly Way, ARMADALE 6112 145.00 Week 60486Harry, Mr J A 3 Dura Court, KENWICK WA 6107 145.00 Week 64891Harvey, Ms A Kirkwood & Mr P 77 Smith Court, CANNINGTON 6107 115.00 Week 22086Head, Ms J 73 Buckley Road, KENWICK WA 6107 140.00 Week 22687Hinder, Ms K Pleth & Mr J 88 Plain Pass, QUEENS PARK 6107 155.00 Week 74655Honda, Ms K & Mr A 779 Bitter Road, Mirrabooka WA 6061 125.00 Week 45847Jetson, Ms J K 62 Boradleaf Drive, ARMADALE 6112 115.00 Week 29704Judge, Mrs N & Mr S 324 Durham Drive, KENWICK WA 610 140.00 Week 02343June, Mr D Blooms & Ms S 334 Bluebottom Rise, Kenwick W A 61 155.00 Week 57882Lamb, Mr G & Mrs T 23 Point Court, KENWICK 6107 145.00 Week 80990Lessy, Mr H A 21 Bucks Road, KENWICK 6107 140.00 Week 15128Main, Ms D N 41 Nini Street, Beckenham WA 6107 155.00 Week 10693Moneypenny, Ms M .Lilliput Lane - Unit 2, PERTH 6000 450.00 Quarter 000101220Monty, Ms J L 24 Norma Street, Maddington WA 6109 145.00 Week 95337Mort, Mr M E Jones & Mr C H 24 Norma Street, Maddington WA 6109 150.00 Week 99743Mr Movies Video Store The Penny Arcade - Shop 3, 929 Hay S 2185.00 Month 000101287Norman's Knives The Penny Arcade - Shop 2, 929 Hay S 1635.00 Month 000101279O'Hara, Ms S .Lilliput Lane - Unit 5, PERTH 6000 450.00 Quarter 000101253Old, Mrs E M And Mr G 77 Jilly Way, Burswood 6100 145.00 Week 80308Pillow, Mr J 77 Walls Place, ARMADALE WA 6112 110.00 Week 40766Plerk, Ms S 10 Scroll Pass, KENWICK 6107 140.00 Week 01671Poole, Ms M Snooke & Mr N 99 Bunford Street, Bentley WA 6102 180.00 Week 61258Quick, Ms K L 178 Ninth Avenue, Armadale WA 6112 115.00 Week 85305Rafter, Ms L B Davies & Mr D 9/778 Bypass Road, Burswood WA 610 190.00 Week 17326Ramsay, Mona 12 High Street, APPLECROSS 6153 175.00 Week 16874Roys Records The Penny Arcade - Shop 1, 929 Hay S 2800.00 Month 000101261Simmy, Ms E J 11 Blackswell Road, KENWICK WA 61 125.00 Week 51349Sinclair, Mr C 94 Fundly Pass, Thornlie WA 6108 135.00 Week 69615Staple, Miss V 23 Walls Place, ARMADALE WA 6112 220.00 Fortnight 70232Sutton, Mr A C 13B Swans Drive, KENWICK 6107 130.00 Week 46059The Chocolate Shop The Penny Arcade - Shop 4, 929 Hay S 1000.00 Month 000101295Towing, Mrs J B 54B Wren Place, KENWICK WA 6107 110.00 Week 74022Turley, Ms I 66 Vaude Avenue, Victoria Park WA 610 180.00 Week 17301Underwood, Ms K Faul & Mr G 24 Norma Street, Maddington WA 6109 150.00 Week 63679Young, Ms K G 994 Clore Way, MADDINGTON WA 61 606.66 Week 65510

Number of Tenants Using Direct Deposits = 45


A-21


D a t e : 10/03/2003 T i m e : 3:01:19 PM

GeeDee - Real EstateManual Payment Tenants All Areas - Kerry Simpson

Tenant Name Property Address Rent Per ID NoVilla, Mrs L 3 Smithwell Drive, Bentley WA 6102 130.00 Week *Willis, Mrs J & Mr K 667 Rapestery Way, Armadale WA 611 140.00 Week *Zimer, Ms C Fergie & Mr M 56 Staple Way, Kenwick W A 6107 130.00 Week *cash

Number of Tenants Using Manual Payments = 3


A-22


D a t e : 10/03/2003 T i m e : 3:01:38 PM

GeeDee - Real EstateTenant Direct Debits Report

All Areas - Kerry Simpson

Tenant Name Address Rent Per BSB AccountBadley, Ms M E 324 Durham Drive, KENWICK WA 610 140.00 Week 550-861 0163 7404Bell, Smith Ms S D & Mr A M 64 Bluebird Road, East Victoria Park W 145.00 Week 388-783 8727 6750Blarney, Ms L Doog & Ms BC 94 Fundly Pass, Thornlie WA 6108 135.00 Week 779-135 6160 2867Botham, Mr B 10 Scroll Pass, KENWICK 6107 140.00 Week 884-537 7393 6942Budge, Mr DC 178 Ninth Avenue, Armadale WA 6112 115.00 Week 683-019 7145 7802Dainty, Ms C M 81 Papper Close, Gosnells W A 6110 140.00 Week 120-357 4934 5576Eve, Mrs S F & Mr D A 99 Bunford Street, Bentley WA 6102 135.00 Week 503-484 4235 4454Harris, Mrs L J 993 Trainly Way, ARMADALE 6112 145.00 Week 340-904 4345 5577Harry, Mr J A 3 Dura Court, KENWICK WA 6107 145.00 Week 392-022 7294 5181Harvey, Ms A Kirkwood & Mr P 77 Smith Court, CANNINGTON 6107 115.00 Week 810-554 4006 3134Head, Ms J 73 Buckley Road, KENWICK WA 6107 140.00 Week 450-237 2843 7041Hinder, Ms K Pleth & Mr J 88 Plain Pass, QUEENS PARK 6107 155.00 Week 302-962 8134 5507Honda, Ms K & Mr A 779 Bitter Road, Mirrabooka WA 6061 125.00 Week 194-365 0471 7199Jetson, Ms J K 62 Boradleaf Drive, ARMADALE 6112 115.00 Week 494-508 5121 0727Judge, Mrs N & Mr S 324 Durham Drive, KENWICK WA 610 140.00 Week 874-127 1183 2008June, Mr D Blooms & Ms S 334 Bluebottom Rise, Kenwick W A 61 155.00 Week 021-569 3176 6518Lamb, Mr G & Mrs T 23 Point Court, KENWICK 6107 145.00 Week 739-303 6565 8067Lessy, Mr H A 21 Bucks Road, KENWICK 6107 140.00 Week 984-260 0502 7419Main, Ms D N 41 Nini Street, Beckenham WA 6107 155.00 Week 384-300 3639 1400Monty, Ms J L 24 Norma Street, Maddington WA 6109 145.00 Week 539-606 0456 3649Mort, Mr M E Jones & Mr C H 24 Norma Street, Maddington WA 6109 150.00 Week 155-526 1088 1380Old, Mrs E M And Mr G 77 Jilly Way, Burswood 6100 145.00 Week 856-353 7264 0286Pillow, Mr J 77 Walls Place, ARMADALE WA 6112 110.00 Week 042-083 3884 2866Plerk, Ms S 10 Scroll Pass, KENWICK 6107 140.00 Week 248-017 7444 0641Poole, Ms M Snooke & Mr N 99 Bunford Street, Bentley WA 6102 180.00 Week 164-477 0039 8436Quick, Ms K L 178 Ninth Avenue, Armadale WA 6112 115.00 Week 426-661 0193 9161Rafter, Ms L B Davies & Mr D 9/778 Bypass Road, Burswood WA 610 190.00 Week 517-067 9596 8941Simmy, Ms E J 11 Blackswell Road, KENWICK WA 61 125.00 Week 591-687 1563 3582Sinclair, Mr C 94 Fundly Pass, Thornlie WA 6108 135.00 Week 259-500 1991 3732Staple, Miss V 23 Walls Place, ARMADALE WA 6112 220.00 Fortnight 740-361 8662 4511Sutton, Mr A C 13B Swans Drive, KENWICK 6107 130.00 Week 218-009 9049 6842Tolliver, Michael 55 Simmons Street, PERTH 6000 150.00 Week 101-611 1561651Towing, Mrs J B 54B Wren Place, KENWICK WA 6107 110.00 Week 962-584 3971 4419Turley, Ms I 66 Vaude Avenue, Victoria Park WA 610 180.00 Week 191-077 9246 4262Underwood, Ms K Faul & Mr G 24 Norma Street, Maddington WA 6109 150.00 Week 040-605 7451 0012Young, Ms K G 994 Clore Way, MADDINGTON WA 61 606.66 Week 706-385 3996 0738

Number of Tenants Paying by Direct Debit = 36


A-23


Date: 11/03/2003 Time: 3:41:28 PM

GeeDee - Real EstateEnd of Period Preview

Residential South

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance37 Bad, Mrs R & Mr M No Transactions 1830.24

AMOUNTS TO BE HELD 1830.24 0.0044 Badger, Mrs P & Mr K Opening Balance 33.00

05/03/2003 4:15:58 P R T 3670 01/03/2003 14/03/200 Sutton, Mr A C 260.00 293.0005/03/2003 4:17:27 P J P 850 Property Inspection 30.00 263.00

Management Fees Due 22.10 240.90BAD Charges Due 0.70 240.20GST Charges Due 5.21 234.99Payment Due 234.99 0.00

42 Balloon, Mrs K F & Mr R Opening Balance 361.3404/03/2003 4:10:31 P J P 848 Inventory Fee 50.00 311.3404/03/2003 4:11:05 P R T 3664 28/02/2003 13/03/200 Plerk, Ms S 280.00 591.3405/03/2003 4:17:25 P J P 849 Final Inspection Fee 45.00 546.34

Management Fees Due 23.80 522.54BAD Charges Due 0.70 521.84GST Charges Due 11.88 509.96Payment Due 201.96 308.00AMOUNTS TO BE HELD 308.00 0.00

25 Brown, Mr A Opening Balance 66.3005/03/2003 4:18:59 P C P 1869 Lawnmowing 33.00 33.30

Sundries Charges Due 5.00 28.30BAD Charges Due 0.30 28.00GST Charges Due 0.50 27.50AMOUNTS TO BE HELD 27.50 0.00

32 Conway, Mr A No Transactions 0.0047 Fiddock, Mr M No Transactions 175.88

AMOUNTS TO BE HELD 175.88 0.001 Fish, Mrs G Opening Balance 265.25

04/03/2003 4:10:24 P J P 845 Property Inspection 30.00 235.2505/03/2003 4:16:55 P R T 3673 28/02/2003 13/03/200 Villa, Mrs L 260.00 495.25

Management Fees Due 16.90 478.35Sundries Charges Due 5.00 473.35Payment Due 238.10 235.25AMOUNTS TO BE HELD 235.25 0.00

17 Fletcher, Mr G Opening Balance 76.8004/03/2003 4:11:29 P R T 3666 28/02/2003 13/03/200 Zimer, Ms C Fergie & Mr M 260.00 336.80

Management Fees Due 22.10 314.70Sundries Charges Due 5.00 309.70AMOUNTS TO BE HELD 309.70 0.00

27 Ford, Mr B A Opening Balance 0.0005/03/2003 4:26:48 P R T 3675 05/03/2003 18/03/200 Ramsay, Mona 350.00 350.0005/03/2003 4:26:48 P R T 3675 Letting Fee to Owner. 175.00 525.00

Management Fees Due 29.75 495.25Sundries Charges Due 5.00 490.25BAD Charges Due 0.70 489.55GST Charges Due 3.47 486.08Payment Due 293.58 192.50AMOUNTS TO BE HELD 192.50 0.00

3 Fraser, Mr D S & Mrs J W Opening Balance 210.7005/03/2003 4:16:18 P R T 3671 27/02/2003 12/03/200 Old, Mrs E M And Mr G 290.00 500.7005/03/2003 4:16:18 P R T 3671 26/02/2002 10/10/200 Water Consumption-Remainder 39.95 540.6505/03/2003 4:16:18 P R T 3671 Required after inspection 90.00 630.65


5 Gray, Mr F P Opening Balance 19.0004/03/2003 4:12:22 P R T 3667 01/03/2003 07/03/200 Turley, Ms I 180.00 199.0004/03/2003 4:12:22 P R T 3667 04/12/2002 02/02/200 Electricity 53.01 252.0105/03/2003 4:18:59 P C P 1869 Lawnmowing 19.00 233.01

Management Fees Due 11.70 221.31Sundries Charges Due 5.00 216.31Payment Due 216.31 0.00

28 Hawthorn, Mrs K & Mr H Opening Balance 33.0004/03/2003 4:10:25 P J P 847 Property Inspection 30.00 3.00

GST Charges Due 3.00 0.00


A-24.1


Date: 11/03/2003 Time: 3:41:29 PM


Residential South

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance26 Hiller, Mrs J I & Mr W K Opening Balance 372.30

04/03/2003 4:10:19 P J P 842 Property Inspection 30.00 342.3004/03/2003 4:10:22 P J P 843 Property Inspection 30.00 312.3004/03/2003 4:10:23 P J P 844 Property Inspection 30.00 282.3005/03/2003 4:15:37 P R T 3669 03/03/2003 09/03/200 Quick, Ms K L 115.00 397.3005/03/2003 4:15:37 P R T 3669 19/08/2002 18/02/200 Water Consumption 38.70 436.0005/03/2003 4:18:49 P C P 1868 Landlord insurance 155.00 281.0005/03/2003 4:18:59 P C P 1869 Lawnmowing 32.00 249.00

Management Fees Due 8.62 240.38Sundries Charges Due 5.00 235.38BAD Charges Due 1.00 234.38GST Charges Due 10.36 224.02AMOUNTS TO BE HELD 224.02 0.00

31 Howard, Mr K Opening Balance 0.0005/03/2003 4:17:11 P R T 3674 04/03/2003 10/03/200 Judge, Mrs N & Mr S 140.00 140.00

Management Fees Due 11.90 128.10Sundries Charges Due 5.00 123.10GST Charges Due 1.69 121.41AMOUNTS TO BE HELD 121.41 0.00

6 James Mrs S P No Transactions 0.0036 Kelly, Mrs M & Mr C No Transactions 126.91

BAD Charges Due 0.30 126.61AMOUNTS TO BE HELD 126.61 0.00

21 Kerr, Mr G No Transactions 0.0011 Lanky, Mr G Opening Balance 400.45

05/03/2003 4:17:29 P J P 851 Property Inspection 30.00 370.45Sundries Charges Due 5.00 365.45AMOUNTS TO BE HELD 365.45 0.00

18 Large, Mrs M E Opening Balance 283.7604/03/2003 4:10:24 P J P 846 Property Inspection 30.00 253.7604/03/2003 4:14:10 P C P 1867 Summer service 50.00 203.76

Sundries Charges Due 5.00 198.76AMOUNTS TO BE HELD 198.76 0.00

33 McGregor, Mr Patrick Opening Balance 400.6003/03/2003 4:07:27 P R T 3661 12/03/2003 18/03/200 Harry, Mr J A 145.00 545.6004/03/2003 4:13:45 P C P 1866 repair to back window 85.00 460.6005/03/2003 4:18:59 P C P 1869 Monthly Cut 30.00 430.60

Management Fees Due 12.32 418.28BAD Charges Due 1.30 416.98GST Charges Due 1.23 415.75Payment Due 130.75 285.00AMOUNTS TO BE HELD 285.00 0.00

46 Midland, Mr S & Mrs L Rogers, Mr Opening Balance 4.8904/03/2003 4:13:05 P R T 3668 01/03/2003 14/03/200 Bell, Smith Ms S D & Mr A M 290.00 294.8904/03/2003 4:14:00 P J P -51 Termite inspection and report 112.20 182.6904/03/2003 4:14:11 P C P 1867 Summer service 50.00 132.6905/03/2003 4:18:59 P C P 1869 Lawnmowing 28.00 104.69

Management Fees Due 18.85 85.84BAD Charges Due 1.30 84.54GST Charges Due 1.89 82.65AMOUNTS TO BE HELD 82.65 0.00

50 Padbury, Ms C M Opening Balance 249.8805/03/2003 4:16:39 P R T 3672 21/02/2003 06/03/200 Simmy, Ms E J 250.00 499.8805/03/2003 4:18:59 P C P 1869 Lawnmowing Front and Back 25.00 474.88

Management Fees Due 16.25 458.63BAD Charges Due 1.30 457.33GST Charges Due 1.63 455.70Payment Due 43.41 412.292nd Payment Due 101.29 311.00AMOUNTS TO BE HELD 311.00 0.00

39 Pitt, Mrs P & Mr C No Transactions 148.70AMOUNTS TO BE HELD 148.70 0.00

51 Rainam, Mr N Opening Balance 30.3005/03/2003 4:18:59 P C P 1869 Initial mow-Reinvoice 30/4/01 30.00 0.30

BAD Charges Due 0.30 0.002 Salmon, Mr D B Opening Balance 631.00

03/03/2003 4:07:55 P R T 3663 28/02/2003 06/03/200 Poole, Ms M Snooke & Mr N 180.00 811.00


A-24.2


Date: 11/03/2003 Time: 3:41:30 PM


Residential South

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance05/03/2003 4:17:45 P J P 852 Leasing Fee 360.00 451.00


24 Williams, Mrs M Opening Balance 0.0004/03/2003 4:11:17 P R T 3665 28/02/2003 13/03/200 Underwood, Ms K Faul & Mr G 300.00 300.00

Management Fees Due 25.50 274.50Sundries Charges Due 5.00 269.50BAD Charges Due 0.70 268.80GST Charges Due 3.05 265.75Payment Due 265.75 0.00


A-24.3


Date: 11/03/2003 Time: 3:41:30 PM


Stratas

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance52 The Owners Of Lilliput Lane Opening Balance 277.30

03/03/2003 4:07:07 P R T 3660 31/03/2003 30/06/200 Bond, Mr J 450.00 727.3003/03/2003 4:07:47 P R T 3662 31/03/2003 30/06/200 Moneypenny, Ms M 450.00 1177.3005/03/2003 4:19:17 P C P 1870 Gas leak common area 150.00 1027.30

Sundries Charges Due 9.00 1018.30BAD Charges Due 0.70 1017.60GST Charges Due 0.90 1016.70AMOUNTS TO BE HELD 1016.70 0.00


A-24.4


Date: 11/03/2003 Time: 3:41:30 PM


Commercial

Date Time Type From/T Ref No Date From Date To Details Debit Credit Balance53 Lotsaloot, Mr Louie No Transactions 0.00

Total Opening Balances: 5997.60 Total Closing Balances: 9100.06


A-24.5


D a t e : 27/02/2003 T i m e : 10:03:31 AM

GeeDee - Real EstateIncome Summary Report

February 2002 to January 2003

C a t e g o r y Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 T o t a l

All Areas: Kerry Simpson Area Totals Entries

Residential North: Kerry Simpson Area Totals Entries

Residential South: Claire Darcy Income from OwnersElectrical Maint 4.35 4.35Entries 1 1General Maint. 120.00 24.50 15.00 159.50Entries 1 2 1 4Advertising 101.64 67.32 134.64 140.58 188.80 19.80 194.88 120.12 69.33 1037.11Entries 1 3 2 1 3 1 3 1 3 18Inspection Fee 405.00 345.00 430.00 285.00 475.00 340.00 330.00 300.00 429.55 390.00 195.00 240.00 4164.55Entries 12 11 13 9 12 11 11 9 11 13 6 8 126Leasing Fee 230.00 930.00 730.00 820.00 460.00 510.00 1045.00 360.00 580.00 225.00 5890.00Entries 1 3 3 3 2 2 4 1 2 1 22Inventory Fee 150.00 150.00Entries 3 3GST on Fees & Charges 137.67 154.84 155.51 91.58 239.12 178.11 123.33 122.36 194.59 114.30 184.22 130.91 1826.54Entries 15 15 17 16 19 17 17 14 18 16 17 16 197BAD Recoveries 26.33 27.67 23.92 24.77 34.93 26.63 28.92 25.51 28.67 26.85 22.50 22.50 319.20Entries 17 17 17 16 19 17 18 14 18 16 17 15 201Management Fees 1461.88 1375.54 1365.08 1291.59 1612.28 1407.60 1428.45 1147.74 1315.18 1225.33 1384.81 1382.78 16398.26Entries 26 25 26 25 28 25 25 21 26 24 25 24 300


A-25.1


D a t e : 27/02/2003 T i m e : 10:03:31 AM




Sundry Fees 75.00 75.00 75.00 70.00 70.00 70.00 70.00 55.00 65.00 60.00 70.00 65.00 820.00Entries 15 15 15 14 14 14 14 11 13 12 14 13 164

Area Totals 2437.52 2979.72 3034.15 1762.94 3391.91 2695.64 1980.70 2180.41 3287.87 2296.60 2505.86 2216.19 30769.51Entries 87 90 94 80 96 91 85 72 94 83 84 80 1036

Stratas: Wayne Dobinson Income from OwnersGST on Fees & Charges 1.50 1.50Entries 1 1BAD Recoveries 4.20 4.20Entries 1 1Sundry Fees 15.00 15.00Entries 1 1

Area Totals 20.70 20.70Entries 3 3

Commercial: Graham Mason Income from OwnersGST on Fees & Charges 1.00 1.00Entries 1 1BAD Recoveries 3.00 3.00Entries 1 1Sundry Fees 10.00 10.00Entries 1 1

Commercial IncomeThe Penny Arcade 1593.69 1593.69Entries 1 1


A-25.2


D a t e : 27/02/2003 T i m e : 10:03:31 AM




Area Totals 1607.69 1607.69Entries 4 4

GST Exempt: Graham Darcy Area Totals Entries

Grand Totals 2437.52 2979.72 3034.15 1762.94 3391.91 2695.64 1980.70 2180.41 3287.87 2296.60 2505.86 3844.58 32397.9Entries 87 90 94 80 96 91 85 72 94 83 84 87 1043


A-25.3


D a t e : 27/02/2003 T i m e : 10:03:31 AM

GeeDee - Real EstateIncome Summary Report February 2002 to January 2003

Summary of Totals per Item

Income Categories AmountElectrical Maint 4.35General Maint. 159.50

Advertising 1037.11Inspection Fee 4164.55Leasing Fee 5890.00Inventory Fee 150.00

GST on Fees & Charges 1829.04BAD Recoveries 326.40

Management Fees 16398.26Sundry Fees 845.00

The Penny Arcade 1593.69

Total 32397.90


A-25.4


D a t e : 11/03/2003 T i m e : 9:04:29 AM

GeeDee - Real EstateOwner Banking Report All Owners - All Areas

Owner Name Address H.Phone B.Phone Bank Account # PayeeBad, Mrs R & Mr M 456 Vase Road,FORRESTFIELD WA 6058 9716 1071 95194150 COM 808-105-96595157 Mrs R & Mr M BadBadger, Mrs P & Mr K 12 Stodd Road,Mindarie WA 6030 9592 2549 90862400 BW 695-658-41899296 Mrs P & Mr K BadgerBalloon, Mrs K F & Mr R 43 Berry Place,FORRESTFIELD WA 6058 9983 4429 95185730 CBL 750-967-631961 Mrs K F & Mr R BalloonBrown, Mr A 55 Village Place,ROCKINGHAM WA 6168 96413922 98633460 BW 038-158-4773 Mr A BrownConway, Mr A 777 Casey Place,KENWICK WA 6107 9217 5050 9285 5050 CIT 618-688-80654700 Mr A ConwayFiddock, Mr M 14 Parker Place,Kenwick WA 6107 9285 4896 96813380 597-282-87652624 Mr M FiddockFish, Mrs G 17 Greed Street,Gosnells WA 6110 9249 3752 9249 7555 CBL 750-957-175210 Mrs G FishFletcher, Mr G 888 Sydney Road,Wattle Grove WA 6107 9111 6666 99425550 WBC 750-967-8622110 Mr G FletcherFord, Mr B A 412 Essendon Street,ROCKINGHAM WA 6168 04 55049204 92163310 COM 000-352-19380070 Mr B A FordFraser, Mr D S & Mrs J W P O Box 440,HILLARYS WA 6923 94299977 9249 1046 CBL 054-337-504668 Mr D S & Mrs J W FraserGray, Mr F P 26 Leek Road,Darlington WA 6070 9744 2104 9741 0008 BW 390-961-252104 Mr F P GrayHawthorn, Mrs K & Mr H 333 Richmond Road,East Cannington WA 6107 9519 8515 91827590 COM 380-880-04787460 Mrs K & Mr H HawthornHiller, Mrs J I & Mr W K 52 Eamer Court,ROCKINGHAM WA 6168 92803438 95192080 CBL 750-958-573553 Mrs J I & Mr W K HillerHoward, Mr K 1 Ventura Road,FORRESTFIELD WA 6058 9215 8506 9702 3913 ANZ 030-337-592083582 Mr K HowardJames Mrs S P 6 Tamble Place,Armadale WA 6112 9244 7521 023768437 BW 390-922-7681023 James Mrs S PKelly, Mrs M & Mr C 55 Weston Place,RIVERVALE WA 6103 95038312 90651600 COM 000-307-19733568 Mrs M & Mr C KellyKerr, Mr G 33 Sherlock Street,Maddington W A 6109 92185645 91720720 099-999-19588591 Mr G KerrLanky, Mr G 36 Kings Place,LANDSDALE WA 6065 9222 3333 0485563874 PNC 890-931-422444 Mr G LankyLarge, Mrs M E 44 Crawford Road,West Swan WA 6055 9777 2211 92828600 099-999-70855694 Mrs M E LargeMcGregor, Mr Patrick 96 Cash Road,ROCKINGHAM WA 6168 91037338 91625090 BW 390-984-5729999 Mr Patrick McGregorMidland, Mr S & Mrs L Roger PO Box 27,FORRESTFIELD WA 6058 05 8422 518 05 8539 269 COM 005-727-1932 7847 Mr S & Mrs L Rogers, MidlanPadbury, Ms C M 88 Falls Road,MADDINGTON WA 6109 9217 6718 9285 5299 305-934-70953979 Ms C M PadburyPitt, Mrs P & Mr C 444 Ingham Road,Parkwood W A 6147 9718 2178 93332460 ANZ 030-288-578146741 Mrs P & Mr C PittRainam, Mr N 75 Beth Street,GOSNELLS W A 6110 9289 5922 99217420 COM 000-307-19707440 Mr N RainamSalmon, Mr D B PO Box 777,HILLARYS WA 6923 98723001 0296460944 BW 390-392-6614444 Mr D B SalmonWilliams, Mrs M 661 Clarke Street,ROCKINGHAM WA 6168 9174 4486 9554 8977 CBL 050-942-161 451 Mrs M WilliamsThe Owners Of Lilliput Lane 355 Kings Park Road,Perth WA 6000 The Owners Of Kings Park LaLotsaloot, Mr Louie 929 Parliament Parade,Adelaide South Australia 5000 (08) 4555-12 (08) 4626-98 NAB 040-358-1239864 Mr Louie Lotsaloot


A-26




Mrs P & Mr K Badger 12 Stodd Road Mindarie WA 6030

Page: 1 Date: 27/02/2003Owner Statement / Tax InvoiceGST Debit Credit

Opening Balance 33.00Rental Income

Property Tenant From To Ref13B Swans Drive Mr A C Sutton 01/02/2003 14/02/2003 R3670 260.00

Total Rent 260.00

ChargesProperty Details Ref13B Swans Drive Property Inspection J850 30.00

Total Charges 30.00

Management Fees 22.10BAD Debits Tax 0.70GST on Fees, Sundries & Charges 5.21

Balance 234.99

Cheque Payment Due To Badger, Mrs P & Mr K $234.99

NOTE: GST credits cannot be claimed on residential properties E. & O. E.

A-27





Page: 1 History Statement Date: 27/02/2003From July 2001 To June 2002

AmountOpening Balance 0.00

Rent ReceivedProperty Tenant From To Ref D a t e G S T 13B Swans Drive Sutton, Mr A C 01/12/2001 14/12/2001 R2567 01/12/2001 260.00

15/12/2001 28/12/2001 R2609 17/12/2001 260.0029/12/2001 11/01/2002 R2661 02/01/2002 260.0012/01/2002 25/01/2002 R2694 15/01/2002 260.0026/01/2002 08/02/2002 R2726 28/01/2002 260.0009/02/2002 22/02/2002 R2770 12/02/2002 260.0023/02/2002 08/03/2002 R2801 25/02/2002 260.0009/03/2002 22/03/2002 R2834 07/03/2002 260.0023/03/2002 05/04/2002 R2880 25/03/2002 260.0006/04/2002 19/04/2002 R2920 10/04/2002 260.0020/04/2002 03/05/2002 R2952 23/04/2002 260.0004/05/2002 17/05/2002 R2984 03/05/2002 260.0018/05/2002 31/05/2002 R3028 21/05/2002 260.0001/06/2002 14/06/2002 R3058 04/06/2002 260.0015/06/2002 28/06/2002 R3086 13/06/2002 260.0029/06/2002 12/07/2002 R3127 27/06/2002 260.00

Total Rent 4160.00

Property ExpensesProperty Details Ref13B Swans Drive Electrical Maint Batten holder in lounge-G A Perry Plumbing & Gas 1417 27/02/2002 4.05 44.55General Maint. Gas hot water unit-G A Perry Plumbing & Gas 1417 27/02/2002 25.70 282.70

Replace deadlock-Western Lockservice 1569 12/06/2002 12.00 132.00Inspection Fee Property Inspection 631 31/12/2001 30.00

Property Inspection 682 02/04/2002 30.00Property Inspection 726 03/07/2002 30.00

Leasing Fee Leasing Fee 637 31/12/2001 130.00 Total Property Expenses 41.75 679.25

Fees Etc.Property Details Ref

Management Fees 31/12/2001 44.20FID Charges 31/12/2001 1.01Management Fees 31/01/2002 66.30FID Charges 31/01/2002 1.97Management Fees 01/03/2002 44.20

A-28.1


GeeDee - Real Estate801 Canning Highway Applecross WA 6153 Phone: 08 9364 6677 Fax: 08 9364 7433


Mrs P & Mr K BadgerPage: 2 History Statement Date: 27/02/2003

From July 2001 To June 2002Amount

FID Charges 01/03/2002 1.71Management Fees 02/04/2002 44.20FID Charges 02/04/2002 1.01Management Fees 02/05/2002 44.20FID Charges 02/05/2002 1.01GST Charges 02/05/2002 4.42Management Fees 31/05/2002 44.20FID Charges 31/05/2002 1.01GST Charges 31/05/2002 4.42Management Fees 03/07/2002 66.30FID Charges 03/07/2002 2.67GST Charges 03/07/2002 9.63

Total Fees Etc. 382.46

Payments To OwnerProperty Details Ref

Month End Cheque-xxxxxxxxxxxxx C1342 31/12/2001 314.79Month End Cheque-xxxxxxxxxx C1385 31/01/2002 711.73Month End Cheque-xxxxxxxxxx C1421 01/03/2002 146.84Month End Cheque-x C1464 02/04/2002 444.79Month End Cheque-xx C1502 02/05/2002 470.37Month End Cheque-xx C1543 31/05/2002 470.37Month End Cheque-xx C1587 03/07/2002 539.40

Total Landlord Payments 3098.29Closing Balance 0.00

GST SummaryTotal GST Credits 60.22

NOTE: GST credits cannot be claimed on residential properties E. & O.E.

A-28.2





Summary Statement Print Date: 27/02/2003Page No: 1From July 2001 To June 2002

Property Address Expenses Income

13B Swans DriveRent Received 4160.00Electrical Maint 44.55General Maint. 414.70Inspection Fee 90.00Leasing Fee 130.00Sub-Totals 679.25 4160.00

Totals For The Period:Total Rent Received 4160.00Total Disbursements 679.25Total Management Fees 353.60Total BAD Charges 10.39Total GST 18.47Total Income 3098.29

4160.00 4160.00

NOTE: GST credits cannot be claimed on residential properties E. & O. E.

A-29




Mr Louie Lotsaloot 929 Parliament Parade Adelaide South Australia 5000

OWNER TAX INVOICE For : March 2003Owner ABN: 12 456 895 654 Date Printed : 10/03/2003

Landlord Account Fees and ChargesProperty Fee Description Qty Value GST Total

Totals 0.00 0.00

V/O Account Fees and Charges (GST Inclusive)Property Fee Description Qty Value GST Total

Management Fees 1 0.00 0.00 0.00 Totals 0.00 0.00

Suppliers Invoices for Property ExpensesProperty Supplier ABN Details GST TotalThe Penny Arcade - Sh Control Air Conditioning 7375996328785 Service Air-con 11.36 125.00

GJD Property Services 78 275 581 298 Repairs to rear door 8.18 90.00Williams Electrical 10 689 441 950 Repair faulty p/point 5.91 65.00

The Penny Arcade - Sh Control Air Conditioning 7375996328785 Service AIr-Con 11.36 125.00The Penny Arcade - Sh Control Air Conditioning 7375996328785 Service & Repair AIr-C 20.45 225.00

Kings Plumbing & Gas 34 998 596 665 Gas hot water repairs 14.18 156.00The Penny Arcade - Sh Control Air Conditioning 7375996328785 Service AIr-Con 11.36 125.00

Trusty Lock and Key 5245962985869 Re-key rear lock 7.91 87.00Totals 90.71 998.00

TOTAL FEES and PROPERTY EXPENSES $998.00Total includes GST of $90.71

A-30


D a t e : 11/03/2003 T i m e : 9:03:56 AM

GeeDee - Real EstateOwner Master Report All Owners - All Areas

Owner Name Address Salutation H.Phone B.Phone Fax MobileBad, Mrs R & Mr M 456 Vase Road,FORRESTFIELD WA 6058 Rita & Michael 9716 1071 95194150 90863996 0498245905Badger, Mrs P & Mr K 12 Stodd Road,Mindarie WA 6030 Patricia & Keith 9592 2549 90862400 93070120 0491550656Balloon, Mrs K F & Mr R 43 Berry Place,FORRESTFIELD WA 6058 Karen & Roger 9983 4429 95185730 93415848 0494 119013Brown, Mr A 55 Village Place,ROCKINGHAM WA 6168 Aarron 96413922 98633460 96021336 0456641406Conway, Mr A 777 Casey Place,KENWICK WA 6107 Ashley 9217 5050 9285 5050 9218 1918 0494 825 412Fiddock, Mr M 14 Parker Place,Kenwick WA 6107 Matt 9285 4896 96813380 94904637 0433379568Fish, Mrs G 17 Greed Street,Gosnells WA 6110 Glenda 9249 3752 9249 7555 92043843 0420459255Fletcher, Mr G 888 Sydney Road,Wattle Grove WA 6107 Gary 9111 6666 99425550 92988825 0441562853Ford, Mr B A 412 Essendon Street,ROCKINGHAM WA 6168 Ben 04 55049204 92163310 98055637 0496 856695Fraser, Mr D S & Mrs J W P O Box 440,HILLARYS WA 6923 David & Janice 94299977 9249 1046 90261331 0486648465Gray, Mr F P 26 Leek Road,Darlington WA 6070 Frank 9744 2104 9741 0008 90044662 0437666888Hawthorn, Mrs K & Mr H 333 Richmond Road,East Cannington WA 6107 Harry & Kate 9519 8515 91827590 95198515 0436 854 804Hiller, Mrs J I & Mr W K 52 Eamer Court,ROCKINGHAM WA 6168 William & Justine 92803438 95192080 93509915 0431901439Howard, Mr K 1 Ventura Road,FORRESTFIELD WA 6058 Ken 9215 8506 9702 3913 9767 9606 0413933098James Mrs S P 6 Tamble Place,Armadale WA 6112 Susan 9244 7521 023768437 99532418 0450841575Kelly, Mrs M & Mr C 55 Weston Place,RIVERVALE WA 6103 Craig & Mary 95038312 90651600 90837513 0496958767Kerr, Mr G 33 Sherlock Street,Maddington W A 6109 Gary 92185645 91720720 92852764 0475787222Lanky, Mr G 36 Kings Place,LANDSDALE WA 6065 Gary 9222 3333 0485563874 97849250 0485563874Large, Mrs M E 44 Crawford Road,West Swan WA 6055 Mary 9777 2211 92828600 99653463 0472448950Lotsaloot, Mr Louie 929 Parliament Parade,Adelaide South Australia 500 Mr Lotsaloot (08) 4555-1234(08) 4626-9876(08) 4789-6543 0090-123-321McGregor, Mr Patrick 96 Cash Road,ROCKINGHAM WA 6168 Patrick 91037338 91625090 93956119 0437 225 997Midland, Mr S & Mrs L Rogers, PO Box 27,FORRESTFIELD WA 6058 Mary Lucy & Steve 05 8422 5189 05 8539 2699 05 8539 2099 0432 830 756Padbury, Ms C M 88 Falls Road,MADDINGTON WA 6109 Claire 9217 6718 9285 5299 90740091 0437 025 484Pitt, Mrs P & Mr C 444 Ingham Road,Parkwood W A 6147 Pauline & Craig 9718 2178 93332460 98345308 0489868121Rainam, Mr N 75 Beth Street,GOSNELLS W A 6110 Nigel 9289 5922 99217420 95415736 0439052218Salmon, Mr D B PO Box 777,HILLARYS WA 6923 David 98723001 0296460944 95686472 0452788997The Owners Of Lilliput Lane 355 Kings Park Road,Perth WA 6000 SirsWilliams, Mrs M 661 Clarke Street,ROCKINGHAM WA 6168 Madge 9174 4486 9554 8977 9553 5344 0434 848 039

28 Owners Processed


A-31


Da t e : 11/03/2003 Ti m e : 9:04:13 AM

GeeDee - Real EstateOwner Properties

All Owners - All Areas

Owner Property Tenant Rent $ Per Paid To Lease Vacating Inspect.Bad, Mrs R & Mr M 55 Simmons Street Tolliver, Michael 150.00 Week 08/04/2003 29/01/2003 15/03/2003

77 Smith Court Harvey, Ms A Kirkwood & Mr P 115.00 Week 24/02/2003 19/11/2002 25/03/200388 Plain Pass Hinder, Ms K Pleth & Mr J 155.00 Week 05/03/2003 25/11/2002 25/03/2003

Badger, Mrs P & Mr K 13B Swans Drive Sutton, Mr A C 130.00 Week 14/03/2003 15/12/2001 22/04/2003Balloon, Mrs K F & Mr R 10 Scroll Pass Plerk, Ms S 140.00 Week 13/03/2003 10/01/2003 06/05/2003Brown, Mr A 81 Papper Close Dainty, Ms C M 140.00 Week 02/03/2003 08/07/2000 25/03/2003Conway, Mr A 994 Clore Way Young, Ms K G 606.66 Week 25/02/2003 06/04/2001 09/05/2003Fiddock, Mr M 54B Wren Place Towing, Mrs J B 110.00 Week 06/03/2003 05/07/2002 09/05/2003Fish, Mrs G 3 Smithwell Drive Villa, Mrs L 130.00 Week 13/03/2003 28/05/1999 25/03/2003

779 Bitter Road Honda, Ms K & Mr A 125.00 Week 12/01/2003 06/10/2000 05/01/2003 25/02/2003Fletcher, Mr G 56 Staple Way Zimer, Ms C Fergie & Mr M 130.00 Week 24/04/2003 23/03/2001 25/03/2003Ford, Mr B A 12 High Street Ramsay, Mona 175.00 Week 18/03/2003 05/03/2003 19/04/2003

73 Buckley Road Head, Ms J 140.00 Week 06/11/2002 09/08/2000 06/11/2002 24/12/2002Fraser, Mr D S & Mrs J W 77 Jilly Way Old, Mrs E M And Mr G 145.00 Week 12/03/2003 19/06/2000 09/05/2003Gray, Mr F P 66 Vaude Avenue Turley, Ms I 180.00 Week 07/03/2003 02/11/2002 25/03/2003

9/778 Bypass RoadHawthorn, Mrs K & Mr H 41 Nini Street Main, Ms D N 155.00 Week 26/02/2003 13/06/2002 22/04/2003Hiller, Mrs J I & Mr W K 178 Ninth Avenue Quick, Ms K L 115.00 Week 09/03/2003 19/08/2002 25/03/2003

23 Walls Place Staple, Miss V 220.00Fortnigh 13/05/2003 02/09/2000 22/04/200362 Boradleaf Drive Jetson, Ms J K 115.00 Week 15/01/2003 02/08/2002 15/01/2003 25/03/200377 Walls Place Pillow, Mr J 110.00 Week 04/03/2003 07/03/2001 22/04/2003

Howard, Mr K 324 Durham Drive Judge, Mrs N & Mr S 140.00 Week 10/03/2003 11/04/2002 09/05/2003James Mrs S P 667 Rapestery Way Willis, Mrs J & Mr K 140.00 Week 31/03/2003 10/04/2001 27/05/2003Kelly, Mrs M & Mr C 21 Bucks Road Lessy, Mr H A 140.00 Week 23/02/2003 05/03/2001 21/01/2003Kerr, Mr G 874 Queens RoadLanky, Mr G 334 Bluebottom Rise June, Mr D Blooms & Ms S 155.00 Week 05/03/2003 28/07/2002 22/04/2003Large, Mrs M E 94 Fundly Pass Blarney, Ms L Doog & Ms BC 135.00 Week 21/02/2003 01/02/2003 18/03/2003McGregor, Mr Patrick 3 Dura Court Harry, Mr J A 145.00 Week 18/03/2003 24/04/2002 25/03/2003Midland, Mr S & Mrs L Rogers, 64 Bluebird Road Bell, Smith Ms S D & Mr A M 145.00 Week 14/03/2003 13/07/2002 25/03/2003Padbury, Ms C M 11 Blackswell Road Simmy, Ms E J 125.00 Week 13/03/2003 27/09/2002 09/05/2003Pitt, Mrs P & Mr C 993 Trainly Way Harris, Mrs L J 145.00 Week 27/02/2003 04/05/2001 25/03/2003Rainam, Mr N 23 Point Court Lamb, Mr G & Mrs T 145.00 Week 03/03/2003 05/11/2002 25/03/2003Salmon, Mr D B 99 Bunford Street Poole, Ms M Snooke & Mr N 180.00 Week 06/03/2003 20/12/2002 06/05/2003Williams, Mrs M 24 Norma Street Underwood, Ms K Faul & Mr G 150.00 Week 13/03/2003 07/01/2003 06/05/2003The Owners Of Lilliput Lane .Lilliput Lane - Unit 1 Bond, Mr J 450.00 Quarter 30/06/2003 29/12/2002

.Lilliput Lane - Unit 2 Moneypenny, Ms M 450.00 Quarter 30/06/2003 29/12/2002 V 2.4.0 (Build 10) Page 1

A-32.1


D a t e : 11/03/2003 T i m e : 9:04:14 AM

GeeDee - Real EstateOwner Properties

All Owners - All Areas

Owner Property Tenant Rent $ Per Paid To Lease Vacating Inspect..Lilliput Lane - Unit 3 Gulliver, Mr G 450.00 Quarter 30/03/2003 29/12/2002.Lilliput Lane - Unit 4 Crown, Mr Thomas 450.00 Quarter 30/03/2003 29/12/2002.Lilliput Lane - Unit 5 O'Hara, Ms S 450.00 Quarter 28/12/2002 29/12/2002.Master Lilliput Lane

Lotsaloot, Mr Louie The Penny Arcade - Shop 1 Roys Records 2800.00 Month 28/01/2003 01/07/2002The Penny Arcade - Shop 2 Norman's Knives 1635.00 Month 31/07/2002 01/07/2002The Penny Arcade - Shop 3 Mr Movies Video Store 2185.00 Month 28/02/2003 29/08/2002The Penny Arcade - Shop 4 The Chocolate Shop 1000.00 Month 30/06/2002 01/07/2002


A-32.2


Da t e : 27/02/2003 Ti m e : 10:00:43 AM

GeeDee - Real EstateOwner Charges Held & Charged

Area 2: Residential SouthDisbursement Trust A/C Date Owner Property Amount Pay Jnl No

Inspection Fee Routine Inspecti 21/01/2003 Pitt, Mrs P & Mr C 993 Trainly Way 30.00 Yes21/01/2003 Brown, Mr A 81 Papper Close 30.00 No

SubTotal Charged 30.00

Leasing Fee Letting Fees 21/01/2003 Lanky, Mr G 334 Bluebottom Rise 225.00 Yes25/01/2003 Balloon, Mrs K F & M 10 Scroll Pass 280.00 Yes25/01/2003 Ford, Mr B A 73 Buckley Road 175.00 Yes

SubTotal Charged 680.00

Inventory Fee P.C.R. Inspectio 10/01/2003 Midland, Mr S & Mrs 64 Bluebird Road 50.00 Yes SubTotal Charged 50.00

Total Held 30.00Total Available to Charge 760.00


A-33.1


D a t e : 27/02/2003 T i m e : 10:00:21 AM

GeeDee - Real EstateNegative Owner Charges

To Be Processed Individually

Disbursement Trust A/C Date Owner Property AmountInspection Fee 11 06/02/2003 Ford, Mr B A 73 Buckley Road -45.00Management Fee 6 06/02/2003 Kelly, Mrs M & Mr C 21 Bucks Road -56.00

These Negative Charges Should Be Processed Via The Charges/Refunds Item On The Owner's Dropdown Menu

Preferably After Positive Charges Have Been Processed


A-33.2


Da t e : 27/02/2003 Ti m e : 9:59:42 AM

GeeDee - Real EstateCreditors Accounts Outstanding

All Areas - Kerry Simpson

Creditor Name Pri Date Property Invoice No Details Amount Pay PaymentAlliance Insurance 5 31/12/2002 99 Bunford Street B PE-1749026-H Insurance - 18/8/01 395.73 Chq 395.73AON Risk Services 5 11/01/2003 993 Trainly Way AR 9687 Insurance 115.00 Chq 115.00BMJ Fencing 5 20/01/2003 77 Jilly Way Bursw 3789 Repair to rear/side 285.00 Chq 285.00 City Roofing 5 20/01/2003 3 Dura Court KEN 578 Gutter clean & repa 189.00 Chq 189.00 City Waste 5 29/01/2003 56 Staple Way Ken 89688 Unblock septic tan 229.00 Chq 229.00 Control Air Conditio 5 29/01/2003 The Penny Arcade - 1234 Service AIr-Con 125.00 Chq

5 29/01/2003 The Penny Arcade - 1234 Service & Repair AI 225.00 Chq5 29/01/2003 The Penny Arcade - 1234 Service AIr-Con 125.00 Chq5 29/01/2003 The Penny Arcade - 1234 Service Air-con 125.00 Chq 600.00

Fred's Mowing 5 15/01/2003 .Master Lilliput Lan Monthly cut 65.00 Chq 65.00GJD Property Servi 5 19/01/2003 .Master Lilliput Lan 96 Repair gate on bin 48.00 Chq

5 20/01/2003 The Penny Arcade - 5463 Repairs to rear doo 90.00 Chq 138.00Kings Plumbing & 5 20/01/2003 The Penny Arcade - 9658 Gas hot water repa 156.00 Chq 156.00LCD Insurance 5 31/12/2002 77 Smith Court CA 870723 Insurance for 15A a 281.40 Chq 281.40 Nifty Carpet Cleani 5 20/01/2003 3 Smithwell Drive B 56389 Carpet clean 90.00 Chq 90.00 Pool Masters 5 08/01/2003 .Master Lilliput Lan 635 Monthly service 88.00 Chq

5 18/01/2003 178 Ninth Avenue 684 Clean & chemicals 75.00 Chq 163.00Trusty Lock and Ke 5 05/01/2003 The Penny Arcade - 631 Re-key rear lock 87.00 Chq

5 11/01/2003 .Master Lilliput Lan 6318 Repairs to unit 1 - r 65.00 Chq5 11/01/2011 11 Blackswell Roa 3216 Install window lock 245.00 Chq 397.00

Urban Fire Control 5 06/01/2003 .Master Lilliput Lan 275 Check equipment 185.00 Chq 185.00Water Corporation 5 30/12/2002 334 Bluebottom Ri 9008528767 First instalment - w 145.45 Chq

5 30/12/2002 21 Bucks Road KE 9005610984 First instalment - w 124.30 Chq5 30/12/2002 3 Smithwell Drive B 9005897292 First instalment - w 145.25 Chq5 30/12/2002 88 Plain Pass QUE 9009557084 Full payment of wat 555.45 Chq 970.45

Williams Electrical 5 05/01/2003 The Penny Arcade - 545 Repair faulty p/poin 65.00 Chq5 29/01/2003 3 Dura Court KEN 547 Repair RCD 95.00 Chq 5 29/01/2003 56 Staple Way Ken 532 INstall exhaust fan 165.00 Chq 5 29/01/2003 11 Blackswell Roa 526 Repair wall outlet 65.00 Chq 5 29/01/2003 23 Walls Place AR 528 Install exhaust fan 165.00 Chq 555.00

BMW Tree Services 5 29/01/2003 94 Fundly Pass Th 9371 Remove tree rear y 410.00 No5 29/01/2003 54B Wren Place K 8645 Grind stumps 289.00 No

EMD Building Insur 5 29/01/2003 23 Point Court KEN 146 Landlord insuranc 155.00 No5 29/01/2003 324 Durham Drive 147 Landlord insuranc 155.00 No5 29/01/2003 62 Boradleaf Drive 148 Landlord insuranc 155.00 Hold 5 29/01/2003 994 Clore Way MA 149 Landlord insuranc 155.00 Hold

Fred's Mowing 5 02/12/2002 77 Jilly Way Bursw 981147 Lawnmowing Front 35.00 Hold 5 12/12/2002 23 Point Court KEN 981163 Lawnmowing Front 25.00 Hold

Mick's Plumbing & 5 20/01/2003 64 Bluebird Road 9378 Install new HW ser 315.00 No5 20/01/2003 874 Queens Road 697 Unblock toilet 88.00 Hold

Pool Masters 5 20/01/2003 .Master Lilliput Lan 6358 Monthlty maintenan 125.00 HoldWater Corporation 5 30/12/2002 99 Bunford Street B 9005340259 Full payment of wat 500.95 Hold

5 30/12/2002 3 Dura Court KEN 9005622360 Full payment of wat 270.35 Hold5 30/12/2002 94 Fundly Pass Th 9005747382 First instalment - w 125.05 Hold5 30/12/2002 779 Bitter Road Mir 9003029870 First instalment - w 120.45 Hold5 30/12/2002 77 Smith Court CA 9005366846 Full payment of wat 482.80 Hold

Williams Electrical 5 16/12/2002 77 Smith Court CA 00002304 New element-front 78.65 HoldWill's Locksmith 5 29/01/2003 .Master Lilliput Lan 3684 Install locks to Mete 480.00 No

Cheques Total 4814.58Deft Total 0.00Total Paid 4814.58 Total Unpaid 3965.25


A-34


Da t e : 11/03/2003 Ti m e : 9:09:42 AM

GeeDee - Real EstateProperty Master Report

All Areas

Key ID Property Address Owner Name Tenant Name1 99 Bunford Street, Bentley WA 6102 Salmon, Mr D B Poole, Ms M Snooke & Mr N12 10 Scroll Pass, KENWICK 6107 Balloon, Mrs K F & Mr R Plerk, Ms S14 334 Bluebottom Rise, Kenwick W A 61 Lanky, Mr G June, Mr D Blooms & Ms S19 56 Staple Way, Kenwick W A 6107 Fletcher, Mr G Zimer, Ms C Fergie & Mr M2 3 Smithwell Drive, Bentley WA 6102 Fish, Mrs G Villa, Mrs L20 62 Boradleaf Drive, ARMADALE 6112 Hiller, Mrs J I & Mr W K Jetson, Ms J K22 874 Queens Road, Koondoola WA 606 Kerr, Mr G Vacant23 9/778 Bypass Road, Burswood WA 61 Gray, Mr F P Vacant235 The Penny Arcade - Shop 3, 929 Hay S Lotsaloot, Mr Louie Mr Movies Video Store24 24 Norma Street, Maddington WA 61 Williams, Mrs M Underwood, Ms K Faul & Mr G26 81 Papper Close, Gosnells W A 6110 Brown, Mr A Dainty, Ms C M27 23 Walls Place, ARMADALE WA 611 Hiller, Mrs J I & Mr W K Staple, Miss V28 77 Walls Place, ARMADALE WA 611 Hiller, Mrs J I & Mr W K Pillow, Mr J29 73 Buckley Road, KENWICK WA 610 Ford, Mr B A Head, Ms J3 66 Vaude Avenue, Victoria Park WA 61 Gray, Mr F P Turley, Ms I30 41 Nini Street, Beckenham WA 6107 Hawthorn, Mrs K & Mr H Main, Ms D N31 324 Durham Drive, KENWICK WA 61 Howard, Mr K Judge, Mrs N & Mr S34 994 Clore Way, MADDINGTON WA Conway, Mr A Young, Ms K G35 3 Dura Court, KENWICK WA 6107 McGregor, Mr Patrick Harry, Mr J A37 178 Ninth Avenue, Armadale WA 611 Hiller, Mrs J I & Mr W K Quick, Ms K L39 21 Bucks Road, KENWICK 6107 Kelly, Mrs M & Mr C Lessy, Mr H A41 77 Smith Court, CANNINGTON 6107 Bad, Mrs R & Mr M Harvey, Ms A Kirkwood & Mr P44 993 Trainly Way, ARMADALE 6112 Pitt, Mrs P & Mr C Harris, Mrs L J5 77 Jilly Way, Burswood 6100 Fraser, Mr D S & Mrs J W Old, Mrs E M And Mr G6 779 Bitter Road, Mirrabooka WA 6061 Fish, Mrs G Honda, Ms K & Mr A

685 The Penny Arcade - Shop 1, 929 Hay S Lotsaloot, Mr Louie Roys Records7 667 Rapestery Way, Armadale WA 61 James Mrs S P Willis, Mrs J & Mr K

871 The Penny Arcade - Shop 4, 929 Hay S Lotsaloot, Mr Louie The Chocolate Shop9 94 Fundly Pass, Thornlie WA 6108 Large, Mrs M E Blarney, Ms L Doog & Ms BC

952 55 Simmons Street, PERTH 6000 Bad, Mrs R & Mr M Tolliver, Michael987 The Penny Arcade - Shop 2, 929 Hay S Lotsaloot, Mr Louie Norman's KnivesR10 13B Swans Drive, KENWICK 6107 Badger, Mrs P & Mr K Sutton, Mr A C

32 Properties Printed


A-35


Da t e : 11/03/2003 Ti m e : 9:04:54 AM

GeeDee - Real EstateProperty Master Report

All Areas

Property Address Owner Name Tenant Name Key Rent Per.Lilliput Lane - Unit 1, PERTH 6000 The Owners Of Lilliput Lane Bond, Mr J 450.00 Quarter.Lilliput Lane - Unit 2, PERTH 6000 The Owners Of Lilliput Lane Moneypenny, Ms M 450.00 Quarter.Lilliput Lane - Unit 3, PERTH 6000 The Owners Of Lilliput Lane Gulliver, Mr G 450.00 Quarter.Lilliput Lane - Unit 4, PERTH 6000 The Owners Of Lilliput Lane Crown, Mr Thomas 450.00 Quarter.Lilliput Lane - Unit 5, PERTH 6000 The Owners Of Lilliput Lane O'Hara, Ms S 450.00 Quarter.Master Lilliput Lane, PERTH 6000 The Owners Of Lilliput Lane Vacant Quarter10 Scroll Pass, KENWICK 6107 Balloon, Mrs K F & Mr R Plerk, Ms S 12 140.00 Week11 Blackswell Road, KENWICK WA 6 Padbury, Ms C M Simmy, Ms E J 125.00 Week12 High Street, APPLECROSS 6153 Ford, Mr B A Ramsay, Mona 175.00 Week13B Swans Drive, KENWICK 6107 Badger, Mrs P & Mr K Sutton, Mr A C R10 130.00 Week178 Ninth Avenue, Armadale WA 611 Hiller, Mrs J I & Mr W K Quick, Ms K L 37 115.00 Week21 Bucks Road, KENWICK 6107 Kelly, Mrs M & Mr C Lessy, Mr H A 39 140.00 Week23 Point Court, KENWICK 6107 Rainam, Mr N Lamb, Mr G & Mrs T 145.00 Week23 Walls Place, ARMADALE WA 611 Hiller, Mrs J I & Mr W K Staple, Miss V 27 220.00 Fortnigh24 Norma Street, Maddington WA 61 Williams, Mrs M Underwood, Ms K Faul & Mr 24 150.00 Week3 Dura Court, KENWICK WA 6107 McGregor, Mr Patrick Harry, Mr J A 35 145.00 Week3 Smithwell Drive, Bentley WA 6102 Fish, Mrs G Villa, Mrs L 2 130.00 Week324 Durham Drive, KENWICK WA 61 Howard, Mr K Judge, Mrs N & Mr S 31 140.00 Week334 Bluebottom Rise, Kenwick W A 61 Lanky, Mr G June, Mr D Blooms & Ms S 14 155.00 Week41 Nini Street, Beckenham WA 6107 Hawthorn, Mrs K & Mr H Main, Ms D N 30 155.00 Week54B Wren Place, KENWICK WA 6107 Fiddock, Mr M Towing, Mrs J B 110.00 Week55 Simmons Street, PERTH 6000 Bad, Mrs R & Mr M Tolliver, Michael 952 150.00 Week56 Staple Way, Kenwick W A 6107 Fletcher, Mr G Zimer, Ms C Fergie & Mr M 19 130.00 Week62 Boradleaf Drive, ARMADALE 6112 Hiller, Mrs J I & Mr W K Jetson, Ms J K 20 115.00 Week64 Bluebird Road, East Victoria Park W Midland, Mr S & Mrs L RogerBell, Smith Ms S D & Mr A M 145.00 Week66 Vaude Avenue, Victoria Park WA 61 Gray, Mr F P Turley, Ms I 3 180.00 Week667 Rapestery Way, Armadale WA 61 James Mrs S P Willis, Mrs J & Mr K 7 140.00 Week73 Buckley Road, KENWICK WA 610 Ford, Mr B A Head, Ms J 29 140.00 Week77 Jilly Way, Burswood 6100 Fraser, Mr D S & Mrs J W Old, Mrs E M And Mr G 5 145.00 Week77 Smith Court, CANNINGTON 6107 Bad, Mrs R & Mr M Harvey, Ms A Kirkwood & M 41 115.00 Week77 Walls Place, ARMADALE WA 611 Hiller, Mrs J I & Mr W K Pillow, Mr J 28 110.00 Week779 Bitter Road, Mirrabooka WA 6061 Fish, Mrs G Honda, Ms K & Mr A 6 125.00 Week81 Papper Close, Gosnells W A 6110 Brown, Mr A Dainty, Ms C M 26 140.00 Week874 Queens Road, Koondoola WA 606 Kerr, Mr G Vacant 22 125.00 Week88 Plain Pass, QUEENS PARK 6107 Bad, Mrs R & Mr M Hinder, Ms K Pleth & Mr J 155.00 Week9/778 Bypass Road, Burswood WA 61 Gray, Mr F P Vacant 23 190.00 Week94 Fundly Pass, Thornlie WA 6108 Large, Mrs M E Blarney, Ms L Doog & Ms BC 9 135.00 Week99 Bunford Street, Bentley WA 6102 Salmon, Mr D B Poole, Ms M Snooke & Mr N 1 180.00 Week993 Trainly Way, ARMADALE 6112 Pitt, Mrs P & Mr C Harris, Mrs L J 44 145.00 Week994 Clore Way, MADDINGTON WA Conway, Mr A Young, Ms K G 34 606.66 WeekThe Penny Arcade - Shop 1, 929 Hay S Lotsaloot, Mr Louie Roys Records 685 2800.00 MonthThe Penny Arcade - Shop 2, 929 Hay S Lotsaloot, Mr Louie Norman's Knives 987 1635.00 MonthThe Penny Arcade - Shop 3, 929 Hay S Lotsaloot, Mr Louie Mr Movies Video Store 235 2185.00 MonthThe Penny Arcade - Shop 4, 929 Hay S Lotsaloot, Mr Louie The Chocolate Shop 871 1000.00 Month



A-36


Date: 11/03/2003 Time: 9:05:21 AM

GeeDee - Real EstateProperty Master Report By Suburb

All Areas

Property Address Owner Name Tenant Name Key Rent PerThe Penny Arcade - Shop 1, 929 Hay S Lotsaloot, Mr Louie Roys Records 685 2800.00 MonthThe Penny Arcade - Shop 2, 929 Hay S Norman's Knives 987 1635.00 MonthThe Penny Arcade - Shop 3, 929 Hay S Mr Movies Video Store 235 2185.00 MonthThe Penny Arcade - Shop 4, 929 Hay S The Chocolate Shop 871 1000.00 Month12 High Street, APPLECROSS Ford, Mr B A Ramsay, Mona 175.00 Week62 Boradleaf Drive, ARMADALE Hiller, Mrs J I & Mr W K Jetson, Ms J K 20 115.00 Week 993 Trainly Way, ARMADALE Pitt, Mrs P & Mr C Harris, Mrs L J 44 145.00 Week23 Walls Place, ARMADALE WA Hiller, Mrs J I & Mr W K Staple, Miss V 27 220.00 Fortnigh77 Walls Place, ARMADALE WA Pillow, Mr J 28 110.00 Week 178 Ninth Avenue, Armadale WA Quick, Ms K L 37 115.00 Week667 Rapestery Way, Armadale WA James Mrs S P Willis, Mrs J & Mr K 7 140.00 Week41 Nini Street, Beckenham WA Hawthorn, Mrs K & Mr H Main, Ms D N 30 155.00 Week3 Smithwell Drive, Bentley WA Fish, Mrs G Villa, Mrs L 2 130.00 Week99 Bunford Street, Bentley WA Salmon, Mr D B Poole, Ms M Snooke & Mr N 1 180.00 Week77 Jilly Way, Burswood Fraser, Mr D S & Mrs J W Old, Mrs E M And Mr G 5 145.00 Week 9/778 Bypass Road, Burswood WA Gray, Mr F P Vacant 23 190.00 Week77 Smith Court, CANNINGTON Bad, Mrs R & Mr M Harvey, Ms A Kirkwood & M 41 115.00 Week64 Bluebird Road, East Victoria Park W Midland, Mr S & Mrs L Roger Bell, Smith Ms S D & Mr A M 145.00 Week81 Papper Close, Gosnells W A Brown, Mr A Dainty, Ms C M 26 140.00 Week10 Scroll Pass, KENWICK Balloon, Mrs K F & Mr R Plerk, Ms S 12 140.00 Week 13B Swans Drive, KENWICK Badger, Mrs P & Mr K Sutton, Mr A C R10 130.00 Week21 Bucks Road, KENWICK Kelly, Mrs M & Mr C Lessy, Mr H A 39 140.00 Week23 Point Court, KENWICK Rainam, Mr N Lamb, Mr G & Mrs T 145.00 Week3 Dura Court, KENWICK WA McGregor, Mr Patrick Harry, Mr J A 35 145.00 Week 324 Durham Drive, KENWICK WA Howard, Mr K Judge, Mrs N & Mr S 31 140.00 Week11 Blackswell Road, KENWICK WA Padbury, Ms C M Simmy, Ms E J 125.00 Week54B Wren Place, KENWICK WA Fiddock, Mr M Towing, Mrs J B 110.00 Week73 Buckley Road, KENWICK WA Ford, Mr B A Head, Ms J 29 140.00 Week 334 Bluebottom Rise, Kenwick W A Lanky, Mr G June, Mr D Blooms & Ms S 14 155.00 Week56 Staple Way, Kenwick W A Fletcher, Mr G Zimer, Ms C Fergie & Mr M 19 130.00 Week 874 Queens Road, Koondoola WA Kerr, Mr G Vacant 22 125.00 Week994 Clore Way, MADDINGTON WA Conway, Mr A Young, Ms K G 34 606.66 Week24 Norma Street, Maddington WA Williams, Mrs M Underwood, Ms K Faul & Mr 24 150.00 Week 779 Bitter Road, Mirrabooka WA Fish, Mrs G Honda, Ms K & Mr A 6 125.00 Week.Lilliput Lane - Unit 1, PERTH The Owners Of Lilliput Lane Bond, Mr J 450.00 Quarter.Lilliput Lane - Unit 2, PERTH Moneypenny, Ms M 450.00 Quarter.Lilliput Lane - Unit 3, PERTH Gulliver, Mr G 450.00 Quarter.Lilliput Lane - Unit 4, PERTH Crown, Mr Thomas 450.00 Quarter.Lilliput Lane - Unit 5, PERTH O'Hara, Ms S 450.00 Quarter.Master Lilliput Lane, PERTH Vacant Quarter55 Simmons Street, PERTH Bad, Mrs R & Mr M Tolliver, Michael 952 150.00 Week88 Plain Pass, QUEENS PARK Hinder, Ms K Pleth & Mr J 155.00 Week94 Fundly Pass, Thornlie WA Large, Mrs M E Blarney, Ms L Doog & Ms BC 9 135.00 Week66 Vaude Avenue, Victoria Park WA Gray, Mr F P Turley, Ms I 3 180.00 Week



A-37


D a t e : 11/03/2003 T i m e : 9:10:15 AM

GeeDee - Real EstateRent Roll Valuation Report

All Areas

Property Address Owner Name Tenant Name %Fee Rent Fees.Lilliput Lane - Unit 1, PERTH 6 The Owners Of Lilliput Lane Bond, Mr J 150.00.Lilliput Lane - Unit 2, PERTH 6 The Owners Of Lilliput Lane Moneypenny, Ms M 150.00.Lilliput Lane - Unit 3, PERTH 6 The Owners Of Lilliput Lane Gulliver, Mr G 150.00.Lilliput Lane - Unit 4, PERTH 6 The Owners Of Lilliput Lane Crown, Mr Thomas 150.00.Lilliput Lane - Unit 5, PERTH 6 The Owners Of Lilliput Lane O'Hara, Ms S 150.00.Master Lilliput Lane, PERTH 60 The Owners Of Lilliput Lane Vacant10 Scroll Pass, KENWICK 6107 Balloon, Mrs K F & Mr R Plerk, Ms S 8.50 606.67 51.5711 Blackswell Road, KENWICK Padbury, Ms C M Simmy, Ms E J 6.50 541.67 35.2112 High Street, APPLECROSS 6 Ford, Mr B A Ramsay, Mona 8.50 758.33 64.4613B Swans Drive, KENWICK 61 Badger, Mrs P & Mr K Sutton, Mr A C 8.50 563.33 47.88178 Ninth Avenue, Armadale Hiller, Mrs J I & Mr W K Quick, Ms K L 7.50 498.33 37.3821 Bucks Road, KENWICK 610 Kelly, Mrs M & Mr C Lessy, Mr H A 8.50 606.67 51.5723 Point Court, KENWICK 6107 Rainam, Mr N Lamb, Mr G & Mrs T 8.50 628.33 53.4123 Walls Place, ARMADALE Hiller, Mrs J I & Mr W K Staple, Miss V 7.50 476.67 35.7524 Norma Street, Maddington Williams, Mrs M Underwood, Ms K Faul & Mr G 8.50 650.00 55.253 Dura Court, KENWICK WA McGregor, Mr Patrick Harry, Mr J A 8.50 628.33 53.413 Smithwell Drive, Bentley WA Fish, Mrs G Villa, Mrs L 6.50 563.33 36.62324 Durham Drive, KENWICK Howard, Mr K Judge, Mrs N & Mr S 8.50 606.67 51.57334 Bluebottom Rise, Kenwick Lanky, Mr G June, Mr D Blooms & Ms S 8.50 671.67 57.0941 Nini Street, Beckenham WA Hawthorn, Mrs K & Mr H Main, Ms D N 7.50 671.67 50.3854B Wren Place, KENWICK W Fiddock, Mr M Towing, Mrs J B 8.50 476.67 40.5255 Simmons Street, PERTH 6000 Bad, Mrs R & Mr M Tolliver, Michael 8.50 650.00 55.2556 Staple Way, Kenwick W A 6 Fletcher, Mr G Zimer, Ms C Fergie & Mr M 8.50 563.33 47.8862 Boradleaf Drive, ARMADA Hiller, Mrs J I & Mr W K Jetson, Ms J K 6.50 498.33 32.39 64 Bluebird Road, East Victoria Midland, Mr S & Mrs L Rogers,Bell, Smith Ms S D & Mr A M 6.50 628.33 40.8466 Vaude Avenue, Victoria Park Gray, Mr F P Turley, Ms I 6.50 780.00 50.70667 Rapestery Way, Armadale James Mrs S P Willis, Mrs J & Mr K 7.50 606.67 45.5073 Buckley Road, KENWICK Ford, Mr B A Head, Ms J 8.50 606.67 51.5777 Jilly Way, Burswood 6100 Fraser, Mr D S & Mrs J W Old, Mrs E M And Mr G 8.50 628.33 53.4177 Smith Court, CANNINGTON Bad, Mrs R & Mr M Harvey, Ms A Kirkwood & Mr 6.50 498.33 32.3977 Walls Place, ARMADALE Hiller, Mrs J I & Mr W K Pillow, Mr J 7.50 476.67 35.75779 Bitter Road, Mirrabooka W Fish, Mrs G Honda, Ms K & Mr A 6.50 541.67 35.2181 Papper Close, Gosnells W A Brown, Mr A Dainty, Ms C M 8.50 606.67 51.57874 Queens Road, Koondoola Kerr, Mr G Vacant 8.50 541.67 46.0488 Plain Pass, QUEENS PARK 6 Bad, Mrs R & Mr M Hinder, Ms K Pleth & Mr J 6.50 671.67 43.669/778 Bypass Road, Burswood Gray, Mr F P Vacant 6.50 823.33 53.5294 Fundly Pass, Thornlie WA 6 Large, Mrs M E Blarney, Ms L Doog & Ms BC 585.00 100.0099 Bunford Street, Bentley WA Salmon, Mr D B Poole, Ms M Snooke & Mr N 7.50 780.00 58.50993 Trainly Way, ARMADALE Pitt, Mrs P & Mr C Harris, Mrs L J 8.50 628.33 53.41994 Clore Way, MADDINGTO Conway, Mr A Young, Ms K G 10.00 2628.86 262.89The Penny Arcade - Shop 1, 92 Lotsaloot, Mr Louie Roys Records 2800.00The Penny Arcade - Shop 2, 92 Lotsaloot, Mr Louie Norman's Knives 1635.00The Penny Arcade - Shop 3, 92 Lotsaloot, Mr Louie Mr Movies Video Store 2185.00The Penny Arcade - Shop 4, 92 Lotsaloot, Mr Louie The Chocolate Shop 1000.00

Month Totals 3 1 0 6 2 . 1 9 1 8 7 2 . 5 1Year Totals 3 7 2 7 4 6 . 3 2 2 2 4 7 0 . 1



A-38


D a t e : 11/03/2003 T i m e : 9:10:46 AM

GeeDee - Real EstateTenant Master Report

Tenant Name Property Address Salutation H.Phone B.Phone Mobile Rent Per Paid To Accounts Credits Rent Cr.Badley, Ms M E 324 Durham Drive, KENWICK W Mary 9217 4208 9399 3617 0477878058 140.00 Week 05/04/2002 5.75Bell, Smith Ms S D & Mr A M 64 Bluebird Road, East Victoria Par Susan & Arthur 9249 7661 9589 0989 0452539042 145.00 Week 14/03/2003Blarney, Ms L Doog & Ms BC 94 Fundly Pass, Thornlie WA 6108 Lorraine & Becky 9533 4713 9218 4435 0457129777 135.00 Week 21/02/2003Bond, Mr J .Lilliput Lane - Unit 1, PERTH 6000 Mr Bond 450.00 Quart 30/06/2003Botham, Mr B 10 Scroll Pass, KENWICK 6107 Brian 9218 3980 9357 4307 0456012023 140.00 Week 30/12/2002 12.20Budge, Mr DC 178 Ninth Avenue, Armadale WA David 9284 1801 9306 0844 0492717306 115.00 Week 28/03/2002 37.20Crown, Mr Thomas .Lilliput Lane - Unit 4, PERTH 6000 Mr Crown 450.00 Quart 30/03/2003Dainty, Ms C M 81 Papper Close, Gosnells W A 61 Claudia 92892189 9308 1648 0449784179 140.00 Week 02/03/2003Eve, Mrs S F & Mr D A 99 Bunford Street, Bentley WA 61 Suzy & Daniel 9516 7518 9392 1914 0413754475 135.00 Week 26/10/2000 288.30 17.85Gulliver, Mr G .Lilliput Lane - Unit 3, PERTH 6000 Mr Gulliver 450.00 Quart 30/03/2003Harris, Mrs L J 993 Trainly Way, ARMADALE 611 Lilly 9284 1142 91713417 0475911422 145.00 Week 27/02/2003Harry, Mr J A 3 Dura Court, KENWICK WA 610 John 9033 4442 9338 5660 0485165507 145.00 Week 18/03/2003Harvey, Ms A Kirkwood & Mr P 77 Smith Court, CANNINGTON 610 Alice & Peter 9716 5406 9334 7133 0485187959 115.00 Week 24/02/2003Head, Ms J 73 Buckley Road, KENWICK WA Julie 9217 6818 9345 2491 0498109251 140.00 Week 06/11/2002Hinder, Ms K Pleth & Mr J 88 Plain Pass, QUEENS PARK 6107 Kerry & Jules 9115 1880 9344 6157 0488265326 155.00 Week 05/03/2003Honda, Ms K & Mr A 779 Bitter Road, Mirrabooka WA 6 Karen & Adam 97267943 9352 4283 0416217743 125.00 Week 12/01/2003 28.65Jetson, Ms J K 62 Boradleaf Drive, ARMADALE 6 Janice 9286 9557 9358 2436 0436997163 115.00 Week 15/01/2003 25.40 16.43Judge, Mrs N & Mr S 324 Durham Drive, KENWICK W Naomi & Serge 9218 1471 9213 1634 0441690114 140.00 Week 10/03/2003June, Mr D Blooms & Ms S 334 Bluebottom Rise, Kenwick W Sara & Daniel 9217 3424 9343 2805 0408945115 155.00 Week 05/03/2003 105.00Lamb, Mr G & Mrs T 23 Point Court, KENWICK 6107 Tina & Gareth 9534 8588 9306 0516 0405588334 145.00 Week 03/03/2003Lessy, Mr H A 21 Bucks Road, KENWICK 6107 Horwarth 9217 6792 9285 4377 0443288175 140.00 Week 23/02/2003Main, Ms D N 41 Nini Street, Beckenham WA 610Doreen 9516 1345 9533 0952 0456215672 155.00 Week 26/02/2003Moneypenny, Ms M .Lilliput Lane - Unit 2, PERTH 6000 Ms Moneypenn 450.00 Quart 30/06/2003Monty, Ms J L 24 Norma Street, Maddington W Julie 9285 9174 9348 3886 0413606789 145.00 Week 04/12/2001 41.43Mort, Mr M E Jones & Mr C H 24 Norma Street, Maddington W Clarke & Mike 9575 2629 0491427501 0491427501 150.00 Week 15/10/2002 14.29Mr Movies Video Store The Penny Arcade - Shop 3, 929 H Mr Collins 9777-5698 9645-8505 2185.00 Mont 28/02/2003 158.00Norman's Knives The Penny Arcade - Shop 2, 929 H Mr Bates 9888-6354 9777-5231 0432-254-598 1635.00 Mont 31/07/2002 500.00O'Hara, Ms S .Lilliput Lane - Unit 5, PERTH 6000 Ms O'Hara 450.00 Quart 28/12/2002 16.90Old, Mrs E M And Mr G 77 Jilly Way, Burswood 6100 Emma & George 9586 8234 9346 1325 0493962002 145.00 Week 12/03/2003Pillow, Mr J 77 Walls Place, ARMADALE WA Jack 9286 9160 9303 2271 0447888566 110.00 Week 04/03/2003 110.05Plerk, Ms S 10 Scroll Pass, KENWICK 6107 Suzy 9905 4831 9314 8207 0409578390 140.00 Week 13/03/2003 211.55 50.00Poole, Ms M Snooke & Mr N 99 Bunford Street, Bentley WA 61 Mary & Neville 9516 3773 9516 2499 0422920880 180.00 Week 06/03/2003Quick, Ms K L 178 Ninth Avenue, Armadale WA Katy 9284 1967 9344 4412 0416292386 115.00 Week 09/03/2003Rafter, Ms L B Davies & Mr D 9/778 Bypass Road, Burswood W Lilly & Daniel 92490550 153 413 0417521278 190.00 Week 11/11/2002Ramsay, Mona 12 High Street, APPLECROSS 6153 Mona 9687-9638 9632-5147 175.00 Week 18/03/2003Roys Records The Penny Arcade - Shop 1, 929 H Mr Orbison 9999-2525 9998-3654 0600-534-521 2800.00 Mont 28/01/2003V 2.4.0 (Build 10) Page 1

A-39.1


D a t e : 11/03/2003 T i m e : 9:10:47 AM

GeeDee - Real EstateTenant Master Report

Tenant Name Property Address Salutation H.Phone B.Phone Mobile Rent Per Paid To Accounts Credits Rent Cr.Simmy, Ms E J 11 Blackswell Road, KENWICK W Elisa 9285 1813 9370 8531 0477705464 125.00 Week 13/03/2003 5.00Sinclair, Mr C 94 Fundly Pass, Thornlie WA 6108 Colin 9788 8640 9309 7733 0488195079 135.00 Week 31/01/2003Staple, Miss V 23 Walls Place, ARMADALE WA Vera 9284 4613 9307 0323 0444568487 220.00 Fortni 13/05/2003 90.00Sutton, Mr A C 13B Swans Drive, KENWICK 6107 Arthur 9217 7793 9775 3138 0425830499 130.00 Week 14/03/2003The Chocolate Shop The Penny Arcade - Shop 4, 929 H Mr Wonka 9666-5524 9888-3642 0600-210-236 1000.00 Mont 30/06/2002Tolliver, Michael 55 Simmons Street, PERTH 6000 Michael 9666-3215 9878-6352 150.00 Week 08/04/2003Towing, Mrs J B 54B Wren Place, KENWICK WA 6 Judith 9217 6797 9399 6657 0497735223 110.00 Week 06/03/2003Turley, Ms I 66 Vaude Avenue, Victoria Park W Irene 9001 8584 9571 7090 0450381533 180.00 Week 07/03/2003Underwood, Ms K Faul & Mr G 24 Norma Street, Maddington W Katy & Gerry 9217 4468 9310 9638 0473121964 150.00 Week 13/03/2003 60.00 50.00Villa, Mrs L 3 Smithwell Drive, Bentley WA 61 Lucy 92893667 9396 6786 0450169163 130.00 Week 13/03/2003Willis, Mrs J & Mr K 667 Rapestery Way, Armadale W Julie & Keith 9588 6588 9350 8766 0408062811 140.00 Week 31/03/2003 120.00Young, Ms K G 994 Clore Way, MADDINGTON Kylie 9285 9251 9344 9379 0403894717 606.66 Week 25/02/2003 50.00 500.00Zimer, Ms C Fergie & Mr M 56 Staple Way, Kenwick W A 6107 Mike & Cleo 9217 4771 9333 0815 0453275254 130.00 Week 24/04/2003

Number of Tenants = 49


A-39.2


D a t e : 11/03/2003 T i m e : 9:11:27 AM

GeeDee - Real EstateInactive Tenants

Tenant Name Paid To Vacates Trust External Admin Arrears AccountsBadley, Ms M E 05/04/2002 31/03/2002Budge, Mr DC 28/03/2002 08/06/2002 460.00 1182.86 37.20Eve, Mrs S F & Mr D A 26/10/2000 16/01/2001 1563.58 288.30Monty, Ms J L 04/12/2001 06/12/2001 Mort, Mr M E Jones & Mr C H 15/10/2002 26/11/2002 700.00 885.71Rafter, Ms L B Davies & Mr D 11/11/2002 04/11/2002Sinclair, Mr C 31/01/2003 31/01/2003 640.00

Number of Tenants = 7


A-40




Mr J Bond C/- GeeDee Real Estate 801 Canning Highway Perth WA 6000

Electricity Consumption Tax Invoice 11/03/2003Issued Under the Authority of The Owners Of Lilliput Lane ABN: 65 568 962 574

For: .Lilliput Lane - Unit 1

Usage Calculations

Tariff: DOMESTIC Meter Number: A1234

Date Reading 01/01/2003 25746 28/02/2003 25921 59 Days 175 Units

Charge Comments AmountSupply/Meter Charge 59 days @ 23.39 cents per day $ 13.80Consumption 175 Units @ 12.75 cents per unit $ 22.31Common Lighting $ 11.40

Invoice Total $ 47.51Total Price Includes GST $ 4.32

Cut Here

Please Return This Slip With Your Payment If Paying By ChequeDUE DATE: 18/03/2003

Bond, Mr J .Lilliput Lane - Unit 1

Electricity Supply and Consumption Charges $ 47.51

Please Make Payment to: GeeDee - Real EstateBSB No: 123-456 801 Canning HighwayAcc No: 123456789 Applecross WA 6153Ref No: 00121

A-41




Mr J Bond C/- GeeDee Real Estate 801 Canning Highway Perth WA 6000

Gas Consumption Tax InvoiceIssued Under the Authority of The Owners Of Lilliput Lane ABN: 65 568 962 574

For: .Lilliput Lane - Unit 1

Usage Calculations

Meter Number: 568121

Date Consumption01/02/2003 28/03/2003 56 Days 351 Units

Charge Comments AmountConsumption 351 Units $ 126.05Admin Charge $ 57.00

Invoice Total $ 183.05Total Price Includes GST $ 16.64

Cut Here

Please Return This Slip With Your Payment If Paying By Cheque

Bond, Mr J .Lilliput Lane - Unit 1

Gas Consumption Charges $ 126.05Admin Charge $ 57.00Total Charge $ 183.05


A-42




Ms S Plerk 10 Scroll Pass KENWICK 6107

10 Scroll Pass, KENWICK 6107

Tenant Invoice of 27/03/2003

Description Details From To A m o u n t Carpet Cleaning Carpet Cleaning 125.00

Invoice Total : $125.00 Previously paid credits avaliable for allocation: $50.00

Please Forward Your Payment Within 7 Days3

Cut Here


Plerk, Ms S 10 Scroll Pass

Carpet Cleaning Carpet Cleaning 125.00 Invoice Total : $125.00


A-43




Ms K Faul & Mr G Underwood 24 Norma Street Maddington WA 6109

Tenant Statement11 March 2003

Accounts Due For : 24 Norma Street, Maddington WA 6109 Date Details From To A m o u n t

11/03/2003 Water Consumption- Water Consumption 60.0011/03/2003 Garden Maint.- Lawnmowing 27.00

Total Amount Due : $87.00 Previously paid credits avaliable for allocation: $50.00

Outstanding Amounts Due & Payable Immediately

Cut Here


Ms K Faul & Mr G Underwood24 Norma Street

11/03/2003 Water Consumption Water Consumption 60.0011/03/2003 Lawnmowing Garden Maint. 27.00

Total Amount Due : $87.00


A-44


D a t e : 11/03/2003 T i m e : 9:11:53 AM

GeeDee - Real EstateTenants Accounts Outstanding

All Tenants

Date Details From To AmountBotham, Mr B- 10 Scroll Pass

31/12/2002 Water Consumption - Water Consumption 26/09/2002 31/12/2002 12.20 Total 12.20

Budge, Mr DC- 178 Ninth Avenue30/05/2002 Water Consumption - Water Consumption 17/11/2001 21/05/2002 37.20

Total 37.20Eve, Mrs S F & Mr D A- 99 Bunford Street


Honda, Ms K & Mr A- 779 Bitter Road06/01/2003 Water Consumption - Water Consumption 11/09/2002 06/01/2003 28.65

Total 28.65Jetson, Ms J K- 62 Boradleaf Drive


O'Hara, Ms S- .Lilliput Lane - Unit 505/03/2003 Interest/Late Levy - Interest at 15.00% on 1 Levy/Levies 16.90

Total 16.90Pillow, Mr J- 77 Walls Place


Plerk, Ms S- 10 Scroll Pass27/03/2003 Water Consumption - Water Consumption 28/11/2002 27/02/2003 86.5527/03/2003 Carpet Cleaning - Carpet Cleaning 125.00

Total 211.55Underwood, Ms K Faul & Mr G- 24 Norma Street

11/03/2003 Water Consumption - Water Consumption 60.00 Total 60.00

Young, Ms K G- 994 Clore Way10/03/2003 Garden Maint. - Lawnmowing 50.00

Total 50.00 Grand Total 840.25


A-45




Invoice Date: 27/02/2003Ms S Plerk 10 Scroll Pass KENWICK 6107

Water Consumption Invoice For: 10 Scroll Pass

Water Consumption Details

Date Reading 31/10/2002 5571 30/01/2003 5724

92 Days 153 Units

ChargesConsumption Charge at Standard Rates 86.55Less Landlord Contribution 0.00

Amount Due 86.55

Payment Required Within 14 Days

Cut Here


Plerk, Ms S 10 Scroll Pass

Water Consumption Charge at Standard Rates 86.55Less Landlord Contribution 0.00Amount Due 86.55


A-46




Water CalculationTenant: Ms S Plerk

Property: 10 Scroll Pass, KENWICK 6107

Owner: Mrs K F & Mr R Balloon

From: 31/10/2002 To: 30/01/2003 = 92 Days

Water Readings Start: 5571 kL End: 5724 kL Consumption: 153 kL

Annual Rate Daily Rate Period(Days) Rate X Days Rates/kL Water CostFirst 600 kL 1 . 6 4 3 8 k L / D a y 92 151.23 kL 0.565/kL 85.45

Next 999399 kL 2738.0795kL/Day 92 1.77 kL 0.631/kL 1.12 TOTAL 86.55

This charge is based on the standard rates for consumption. The calculation method used can produce a different result to that on the Water Authority Account.

The Water Authority calculation allows the cheaper water rates on the first bill for the year. On the second bill, the rates will be higher as the volume consumed for the year places the charge per kilolitre on a higher scale.

In order to spread the charge out evenly during the year, this calculation charges the water on a prorata basis. This is the method recommended by the Real Estate Institute of Western Australia and the Ministry of Fair Trading.


A-47




TO LET 11/03/2003

L o c a t i o n Rent Beds Baths F e a t u r e s

ARMADALE $115.00 3 1 WeekAvailable: Now

BURSWOOD WA $190.00 3 1 WeekAvailable: Now

TRIPLEX - Carport 2 Cars, Furnished, Views, Carport, Carpeted, Built-in Robes, Laundry, Close to Transport, Close to Shops.

KENWICK WA $140.00 3 1 WeekAvailable: Now

3 bedroom, solar hot water, chef parisenne gas stove, lemair air conditioner in lounge, kelvinator fridge staying, freezer, washing machine and dog. Close to Kenwick schools, shops and transport.

KOONDOOLA WA $125.00 3 1 WeekAvailable: Now

HOUSE - Carport 2 Cars, Carport, Carpeted, Laundry, Close to Transport, Close to Shops.

MIRRABOOKA WA $125.00 4 1 WeekAvailable: Now

HOUSE - Off Street, Carpeted, Built-in Robes, Close to Transport, Close to Shops.


A-48.1




Residential Properties Available for Rent 11/03/2003

When viewing a property, we ask you NOT to go on to the land or enter the buildings.If you like the property's appearance and wish to inspect it further, please contact our office.

L o c a t i o n Rent Beds Baths F e a t u r e s

ARMADALE $115.00 3 162 Boradleaf Drive WeekAvailable: Now

BURSWOOD WA $190.00 3 19/778 Bypass Road WeekAvailable: Now

TRIPLEX - Carport 2 Cars, Furnished, Views, Carport, Carpeted, Built-in Robes, Laundry, Close to Transport, Close to Shops.

KENWICK WA $140.00 3 173 Buckley Road WeekAvailable: Now

3 bedroom, solar hot water, chef parisenne gas stove, lemair air conditioner in lounge, kelvinator fridge staying, freezer, washing machine and dog. Close to Kenwick schools, shops and transport.

KOONDOOLA WA $125.00 3 1874 Queens Road WeekAvailable: Now

HOUSE - Carport 2 Cars, Carport, Carpeted, Laundry, Close to Transport, Close to Shops.

MIRRABOOKA WA $125.00 4 1779 Bitter Road WeekAvailable: Now

HOUSE - Off Street, Carpeted, Built-in Robes, Close to Transport, Close to Shops.


A-48.2


D a t e : 27/02/2003 T i m e : 10:03:07 AM

GeeDee - Real EstateReminder Listing

For The Next 21 Days

Date Every For Reminder Who07/03/2003 Once 35 Belmont Parade, Kenwick Property Settlement SDF07/03/2003 Once Turley, Ms I Lease Expires In 30 Days CMD10/03/2003 Once Lamb, Mr G & Mrs T Lease Expires In 30 Days CMD17/03/2003 Once Michael Tolliver Inspection OverDue 30 days AAA20/03/2003 Once Blarney, Ms L Doog & Ms BC Inspection OverDue 30 days CMD


A-49


S200 USE FOR IMMEDIATE OR

24 HOUR ASSESSMENTSONLY

STAMP DUTY ASSESSMENTORIGINAL AND DUPLICATE TO BE SUBMITTED INTACT WITH INSTRUMENTS

WHEN RECEIPTED RETAIN DUPLICATE COPY FOR COLLECTION OF INSTRUMENTS

Lodging Party : GeeDee - Real Estate Telephone No : 08 9364 6677

Address : 801 Canning Highway, Applecross WA 6153

Date of Dupli- Parties Value on which Duty

Execution Names of Parties cates Related? Assesed Payable

22/05/2000 Mrs E M And Mr G Old / Mr D S & Mrs J W Fraser 42.50

05/02/2003 Mona Ramsay / Mr B A Ford 36.85

01/01/2003 Michael Tolliver / Mrs R & Mr M Bad 35.50

TOTAL $ 114.85

SIGNATURE ................................................... Date : Thursday, 27 February, 2003

Name of Signatory .................................................... (Print)

Page :1

IT IS AN OFFENCE TO WILLFULLY MISLEAD OR ATTEMPT TO MISLEAD AN OFFICER OF THE STATE TAXATION DEPARTMENT - PENALTY $ 10 000

OFFICE USE ONLY

Assessor : .....................................

Date : .....................................A-50




Nifty Trade Repairs Phone : 94673124P O Box 2345 Fax : 94912333MORLEY WA 6943 Mobile: 0448221883

Work/Purchase Order No : 102 For : 3 Smithwell Drive

Bentley WA 6102

Order Date : 25/07/2000Details :Repair pull cord for ceiling fan/light in baby's room.

Pull cord won't switch fan, so fan is running all the time. Light can be switched off normally at light switch.

Authorised By :

Invoice To : Mrs G Fishc/o GeeDee - Real Estate, at the above address.

Tenant : Mrs L Villa Home Phone : 92893667 Business Phone : 9396 6786 Mobile Phone : 0450169163

A-51


D a t e : 10/03/2003 T i m e : 2:57:44 PM

GeeDee - Real EstateThe Owners Of Lilliput Lane Strata Plan No. 555333121

Strata Details Owner Details Agent Details.Lilliput Lane - Unit 1 Mr J BondPERTH 6000 C/- GeeDee Real Estate

801 Canning Highway Unit Entitlement: 200 Perth WA 6000.Lilliput Lane - Unit 2 Ms M MoneypennyPERTH 6000 C/- GeeDee Real Estate

801 Canning Highway Unit Entitlement: 200 Perth WA 6000.Lilliput Lane - Unit 3 Mr G GulliverPERTH 6000 C/- ABC Realty

1001 Smith Street Unit Entitlement: 200 Perth WA 6000.Lilliput Lane - Unit 4 Mr Thomas CrownPERTH 6000 555 Afayre Street

Surrey Hills NSW 2000 Unit Entitlement: 200 .Lilliput Lane - Unit 5 Ms S O'HaraPERTH 6000 29 Tara Avenue

St. Kilda VIC 3000 Unit Entitlement: 200


A-52


D a t e : 11/03/2003 T i m e : 10:23:32 AM

GeeDee - Real EstateProjected Property Sale Commission

Non-Zero Accounts

Account Address Settlement Price Gross Nett Comm10031 3/125445 Albany H'way Bentley, 31/03/2003 225000.00 6000.00 6000.0010033 44 Green Leaf Terrace, Kenwick, 24/05/2003 316000.00 9000.00 9000.0010034 641 Main Way Kensington, 15/03/2003 412000.00 14000.00 14000.0010036 35 Belmont Parade, Kenwick, 04/04/2003 350000.00 12500.00 7500.00

Total 36500.00


A-53


D a t e : 11/03/2003 T i m e : 10:32:43 AM

GeeDee - Real EstateOutstanding Vendor Paid Accounts

All Creditors

Creditor Date Property Estimate Actual GSTWest Australian 03/02/2003 35 Belmont Parade Kenwick 50.00 53.00

11/03/2003 641 Main Street 136.0011/03/2003 55 Plain Street 90.00

Bob's Sign Shop 11/03/2003 55 Plain Street 250.00Dave's Distribution Service 03/02/2003 35 Belmont Parade Kenwick 120.00 95.00

11/03/2003 55 Plain Street 125.00 125.00


A-54.1


D a t e : 11/03/2003 T i m e : 10:33:47 AM

GeeDee - Real EstateVendor Account Balances

Account Name Vendor Balance Unpaid Available50000 35 Belmont Parade Kenwick Chard, Mr & Mrs 1000.00 148.00 852.00

03/02/2003 West Australian 53.0003/02/2003 Dave's Distribution Service 95.00

50001 55 Plain Street 2000.00 465.00 1535.0011/03/2003 West Australian 90.0011/03/2003 Bob's Sign Shop 250.0011/03/2003 Dave's Distribution Service 125.00

50002 641 Main Street 1500.00 136.00 1364.0011/03/2003 West Australian 136.00

Totals 4500.00 749.00 3751.00


A-54.2




Mr & Mrs Chard 57 Brighton Road KENWICK WA 6107

11 March 2003Vendor Account Statement

35 Belmont Parade KenwickDate Details GST Debit Credit

Opening Balance 0.00Receipts

04/02/2003 Funds Received Receipt No 3656 1000.00Invoiced Expenses Payments

Totals 0.00 1000.00Current Balance 1000.00

Outstanding Expenses03/02/2003 West Australian Print Advertisements 53.0003/02/2003 Dave's Distribution Service Leaflet letterbox dr 95.00

Totals 148.00Funds Available 852.00


A-54.3




55 Plain Street


55 Plain StreetDate Details GST Debit Credit




Outstanding Expenses11/03/2003 West Australian Print Advertisements 90.0011/03/2003 Bob's Sign Shop Sign Printing 250.0011/03/2003 Dave's Distribution Service Leaflet letterbox dr 125.00



A-54.4




641 Main Street KENSINGTON WA 6151


641 Main StreetDate Details GST Debit Credit




Outstanding Expenses11/03/2003 West Australian Print Advertisements 136.00



A-54.5


Date: 30/05/2004 Time: 3:09:18 PM

GeeDee - Real Estate Owner Trial Balance

Residential South

Owner Name Opening +Rent +Other +Holiday Journals -Payments -Man.Fees -Sundries -BAD -GST =Balance -Due -Hold =Pay Hol Hold Bal.Fwd. Bad, Mrs R & Mr M 1830.24 1830.24 839.05 1830.24 1830.24 Badger, Mrs P & Mr K 33.00 260.00 30.00 22.10 0.70 5.21 234.99 234.99 Balloon, Mrs K F & Mr R 361.34 280.00 95.00 23.80 0.70 11.88 509.96 308.00 201.96 308.00 Brown, Mr A 66.30 33.00 5.00 0.30 0.50 27.50 33.00 27.50 Conway, Mr A 155.70 Fiddock, Mr M 175.88 175.88 289.70 175.88 Fish, Mrs G 265.25 260.00 30.00 16.90 5.00 473.35 355.70 117.65 355.70 Fletcher, Mr G 76.80 260.00 22.10 5.00 309.70 394.00 309.70 Ford, Mr B A 350.00 175.00 29.75 5.00 0.70 3.47 486.08 192.50 293.58 192.50 Fraser, Mr D S & Mrs J W 210.70 290.00 129.95 24.65 5.00 601.00 285.00 316.00 285.00 Gray, Mr F P 19.00 180.00 53.01 19.00 11.70 5.00 216.31 216.31 Hawthorn, Mrs K & Mr H 33.00 30.00 3.00 Hiller, Mrs J I & Mr W K 372.30 115.00 38.70 90.00 187.00 8.62 5.00 1.00 10.36 224.02 396.70 224.02 Howard, Mr K 140.00 11.90 5.00 1.69 121.41 155.70 121.41 James Mrs S P Kelly, Mrs M & Mr C 126.91 126.91 125.00 126.91 Kerr, Mr G Lanky, Mr G 400.45 30.00 5.00 365.45 370.45 365.45 Large, Mrs M E 283.76 30.00 50.00 5.00 198.76 410.00 198.76 McGregor, Mr Patrick 400.60 145.00 115.00 12.32 0.60 1.23 416.45 556.05 416.45 Midland, Mr S & Mrs L Roger 4.89 290.00 112.20 78.00 18.85 1.30 1.89 82.65 370.70 82.65 Padbury, Ms C M 249.88 250.00 25.00 16.25 1.30 1.63 455.70 311.00 144.70 311.00 Pitt, Mrs P & Mr C 148.70 148.70 148.70 148.70 Rainam, Mr N 30.30 30.00 0.30 155.70 Salmon, Mr D B 631.00 180.00 360.00 13.50 5.00 432.50 395.73 36.77 395.73 Williams, Mrs M 300.00 25.50 5.00 0.70 3.05 265.75 265.75 AREA TOTALS 5720.30 3300.00 396.66 807.20 537.00 257.94 60.00 7.60 43.91 7703.31 6248.38 1830.24 1827.71 5875.60


A-55.1


Date: 30/05/2004 Time: 3:09:19 PM


Stratas

Owner Name Opening +Rent +Other +Holiday Journals -Payments -Man.Fees -Sundries -BAD -GST =Balance -Due -Hold =Pay Hol Hold Bal.Fwd. The Owners Of Lilliput Lane 277.30 900.00 150.00 9.00 0.70 0.90 1016.70 1070.85 1016.70 1016.70 AREA TOTALS 277.30 900.00 150.00 9.00 0.70 0.90 1016.70 1070.85 1016.70 1016.70


A-55.2


Date: 30/05/2004 Time: 3:09:19 PM


Commercial

Owner Name Opening +Rent +Other +Holiday Journals -Payments -Man.Fees -Sundries -BAD -GST =Balance -Due -Hold =Pay Hol Hold Bal.Fwd. Lotsaloot, Mr Louie AREA TOTALS GRAND TOTALS 5997.60 4200.00 396.66 807.20 687.00 257.94 69.00 8.60 44.81 8720.01 7319.23 2846.94 1827.71 6892.30


A-55.3


http://www.geedee.com.au

GEEDEE REALTY SYSTEMS

TRUST ACCOUNTING AND PROPERTY MANAGEMENT

TRAINING HANDBOOK

COMMERCIAL MODULE



FOREWORD

This training handbook has been written, in the main, to assist students who undertake the Diploma in Property (Real Estate) or one of the Property Management courses conducted by TAFE. It is hoped that this handbook, together with the Commercial Training Handbook, will be used as a reference guide by all users of GeeDee Realty Systems, so that they become aware of, and fully utilise, the many features available in the system. MODULE PURPOSE: The purpose of this module is to enable the participants to explain and demonstrate the application of real estate accounting packages. ASSESSMENT CRITERIA: Case studies and practical demonstration. COMPETENCY STANDARDS: 1. Prepare formats for preparation and delivery of financial reports. 2. Manage agency disbursements. GeeDee Support Team GeeDee Realty Systems April 2008



WELCOME

Welcome to the GeeDee Realty System and congratulations on your selection for this specialised Real Estate Trust Accounting and Property Management System. GeeDee Realty Systems is the leading developer of Microsoft® Windows® Trust Accounting and Property Management software in Western Australia. At GeeDee we specialise in providing feature packed, secure, reliable and easy to use software systems for the Real Estate Industry. We also have excellent in-built Integrity System Checks and Safe Guards to protect the Licensee from potential fraudulent behaviour. GeeDee Realty Systems is a proven system to handle all your residential property management, trust accounting, strata management, commercial management and property sales needs. At GeeDee Realty Systems we have simplified the administration side of property management for the real estate industry for both the technical and non-technical users for ease of use. The objective of this GeeDee Handbook as with all of the GeeDee guides, is to assist you with the use and correct operation of GeeDee Realty Systems. The purpose of this Training Handbook is to transfer this experience to you. At GeeDee Realty Systems we are always complimented on having one of the easiest to use, understand and time efficient systems available for real estate businesses today. Having a user friendly system, complimented by outstanding software support services is the driving philosophy of GeeDee Realty Systems. We hope you enjoy the GeeDee Realty System.

GEEDEE REALTY SYSTEMS PTY LTD GeeDee Software Copyright © 1984 - 2008

Real Estate Software by Real Estate Professionals All rights reserved


TABLE OF CONTENTS

FOREWORD

SECTION 1 INTRODUCTION 1-1

1.1 CALENDAR CONVENTION 1-1

1.2 COMMERCIAL TRAINING – PREREQUISITES 1-1

1.3 COMMERCIAL MODULE ACTIVATION 1-2

SECTION 2 SETTING UP A NEW COMMERCIAL ENTITY 2-1

2.1 VARIABLE OUTGOINGS ACCOUNT 2-1 2.2 ADDING A COMMERCIAL OWNER 2-1 2.2.1 Commercial details of owner 2-1

2.2.2 Specification of management fees 2-2

2.2.3 Calculation and collection of management fees 2-2

2.2.4 VO account balances 2-2

2.3 ADDING COMMERCIAL PROPERTIES 2-2 2.3.1 The master property 2-3 2.3.2 Property details 2-3 2.3.3 Commercial details of property 2-3 2.4 ADDING A NEW TENANT 2-3 2.4.1 Commercial details for tenant 2-4 2.5 BOMA DISBURSEMENT CODES 2-4 2.5.1 Adding new codes 2-4 2.5.2 Managing promotion funds external to the VO account 2-5 2.6 RENT TO OWNER OR VARIABLE OUTGOINGS ACCOUNT 2-5

SECTION 3 OPERATION OF A COMMERCIAL ENTITY 3-1

3.1 ACCOUNTS FROM VARIABLE OUTGOINGS 3-1 3.2 PROPERTY DISBURSEMENT 3-1 3.3 COMMERCIAL TENANT BONDS 3-1 3.4 COMMERCIAL TENANT STAMP DUTY 3-1 3.5 PROPERTY RECEIPT 3-2 3.6 COMMERCIAL JOURNAL 3-2 3.7 DISSECTION CALCULATOR 3-3 3.8 VO ACCOUNT BUDGET 3-3


SECTION 4 REPORTS 4-1

4.1 INCOME AND EXPENSE SUMMARY 4-1 4.2 VO TENANT INCOME REPORT 4-1 4.3 TENANCY SCHEDULE 4-1 4.4 COMMERCIAL TENANT INVOICES 4-2 4.4.1 Standing accounts 4-2 4.4.2 Ad hoc invoices. 4-2 4.4.3 Electricity and gas invoices 4-3 4.5 LATE RENT PAYMENT REPORT 4-3 4.6 OWNER TAX INVOICE 4-3

SECTION 5 MANAGEMENT FEES 5-1

SECTION 6 GST APPLIED TO COMMERCIAL PROPERTIES 6-1

6.1 DISCLAIMER 6-1 6.2 ASSUMPTIONS 6-1 6.3 IMPLEMENTATION 6-1 6.4 MANAGEMENT FEES ON GST INCLUSIVE RECEIPTS 6-2

SECTION 7 OWNER AND VO ACCOUNTS 7-1

7.1 OWNER EXPENSES 7-1 7.2 OWNER INCOME 7-1 7.3 OWNER VO PAYMENTS 7-1 7.4 A SINGLE ACCOUNT 7-2

SECTION 8 STANDARD FEATURES USED BY THE COMMERCIAL MODULE 8-1

SECTION 9 SAMPLE REPORTS 9-1


1-1

SECTION 1 INTRODUCTION

1.1 CALENDAR CONVENTION

It is most important that everyone who uses, or is responsible for the operation of the GeeDee Realty Systems’ Property Management and Trust Accounting System, clearly understands this system’s important calendar convention. The GeeDee System uses two calendars: the Gregorian calendar and the GeeDee calendar. We all know the Gregorian calendar which is divided into 12 segments we call months. These 12 months have a set number of days ranging from 28 to 31. They run sequentially from 1 to 12 and then start again at 1 at the beginning of each year. The GeeDee calendar also has 12 segments, but these are known as periods. Although these periods are given the same name as the months, they have no set number of days. The number of days in a period is determined by each individual real estate agency, based on its requirements and convenience. (Convenience means taking into account who is on holidays, who is away sick, public holidays, etc.) The periods are numbered sequentially, but unlike months, they are not reset back to 1 at the beginning of a year. A period can involve transactions which are recorded in just the one month (1 - 31 January, which would be known as the January period); over two months (31 December – 31 January, which would also be known as the January period); and over 3 months (31 December – 2 February, which would also be known as the January period). A period could cover from 4 - 25 February, a matter of only three weeks. There are two very important accounting functions that occur every month and every period. These functions are controlled by the two calendars referred to previously. The first function, and the one that agents would consider to be the most important, is period end processing. This process, which is normally carried out towards the end of a month, can in fact be undertaken on any day of a month. This period end processing involves the payments to owners, the payment of your fees, (I said it was the most important), and the roll-over of your data ready for the next period. The second function, and the one that the REBA Board and your auditor consider to be the most important, is the printing of your end of month audit reports. These detailed reports substantiate the fact that your trust account was in balance as at the end of the month, which is a requirement under the REBA Act. Under the Act, the end of the month literally means midnight on the last day of the month. These two functions produce two separate sets of documents: the end of period documents and the end of month audit documents. These documents must be filed separately, otherwise confusion will reign. It is most important for everyone to understand the calendar convention so that they can clearly distinguish between the end of period processing (sometimes referred to as end of month owner processing), and the end of month audit report processing. Note: Every transaction that is entered in the Geedee System contains the initials of the operator, the date and time of the entry and the current period number.

1.2 COMMERCIAL TRAINING – PREREQUISITES

Before undertaking training on the GeeDee Realty Systems’ Commercial Module it is a requirement that students must have completed both the Introduction to GeeDee and the GeeDee - Intermediate Users Program courses. Both these courses are conducted by the


1-2

GeeDee Realty Systems. Alternatively, students must provide evidence that they have sufficient hands on experiencein all the areas covered in the above-mentioned two courses. Additionally, students undertaking training in this commercial module should have attended a commercial property management course offered by either REIWA or some other recognised agency. Note: For complete information on the overall system, please refer to the main GeeDee Realty Systems’ Trust Accounting and Property Management Training Handbook.

1.3 COMMERCIAL MODULE ACTIVATION

The Commercial Module will not normally be included – it is only activated where users are managing commercial properties and have been suitably trained in its use. Commercial property management can be complex. If you have just a few stand-alone commercial properties it may be simpler to manage them as residential properties. Many of the features of the GeeDee System are jointly utilised in the management of both commercial and residential properties. There are some features which are dedicated for commercial use only. If the Commercial Module has been activated then there will be an additional Commercial drop-down menu displayed. There will also be an additional Commercial tab at the bottom of the Owner, Property and Tenant screens where commercial type properties are involved. The Commercial Module can only be activated immediately after an end of period payout has been completed. A commercial owner, previously entered as a residential owner, together with their related properties and tenants will need to be re-entered as commercial owners with the additional required information and related to variable outgoings accounts (VO accounts). The existing residential records for these commercial type properties must be archived. You will need to print year to date summary reports before archiving these records. Separate commercial reports for the remainder of the financial year will be produced at the end of the financial year. Transactions in the Commercial Module use the BOMA disbursement codes and not the residential disbursement codes. All amounts receipted from a commercial tenant, other than for rent, require that tenant accounts and invoices have previously been generated. There is no additional purchase cost involved in the activation of the Commercial Module. However, the monthly maintenance fee rate in respect of all properties managed, including residential, strata and commercial, will be increased by 50%.


2-1

SECTION 2 SETTING UP A NEW COMMERCIAL ENTITY

2.1 VARIABLE OUTGOINGS ACCOUNT

When you add a new commercial owner the system will automatically create a variable outgoings account (VO account). There can only be one VO account for each owner. These accounts have account numbers starting at 99001. All related properties of an owner will be connected to the owner’s VO account. All receipts and payments for commercial properties are made from this VO account. This VO account must not go into debit.

2.2 ADDING A COMMERCIAL OWNER

Firstly, you must enter the new owner using the same method that you use for entering a residential owner, but enter the type as being commercial. An owner cannot have both residential and commercial type properties connected to the same owner record. Enter the ABN for the owner. If there is no ABN then you will not be able to issue a tax invoice to the tenant on behalf of the owner. Note: Once an owner type is set as commercial it cannot subsequently be changed to residential, and vice versa. For commercial owners you would normally make the sundry and cheque charge $0.00.

2.2.1 Commercial details of owner

The next step is to enter the Commercial tab details for the owner. Enter the building name, the total area of the building and select whether the rent is to be credited to the owner or to the newly created VO account. Enter the amount of the budget total. The Tenancy Schedule program uses this value to calculate the proportion that each tenant should pay.


2-2

2.2.2 Specification of management fees

Enter the authorised commission rate, inclusive of GST, and nominate whether the commission is to be charged on all collections, rent only or only on non-rent amounts. Alternatively, enter the fixed monthly fee amount, inclusive of GST. Note: All commission rates and fixed fee amounts are to be entered as GST inclusive.

2.2.3 Calculation and collection of management fees

During period end processing, these amounts will be automatically posted from the VO account to the agent’s management commission fee account. Normally with commercial properties you will not collect any management fee from the owner. Therefore, you must be careful not to enter values on the Property screen and the Commercial tab area. If you do, then the system may take commission from both areas.

2.2.4 VO account balances

The details of the current balance of the related VO account will be displayed on this Commercial tab page.

2.3 ADDING COMMERCIAL PROPERTIES

The next step is to enter the details of the related properties. The commission rate and the fixed amount fields should be set to zero as commercial owners are not normally charged commission. Ensure that a date is entered for the commencement of GST on rent, even if it is a future date. Remember, all commercial rent amounts are entered as GST inclusive.


2-3

2.3.1 The master property

It is recommended that a master property be created with all amounts entered as zero. This property is to be connected to the relevant VO account. All creditor accounts to be paid from the VO account will be entered against this connected property.

2.3.2 Property details

Enter the details of the property in the Description section. These details will be printed on the Tenancy Schedule report. After entering a new property you are prompted to create a new tenant for this property. This is discussed in Section 2.4.

2.3.3 Commercial details of property

The next step is to enter the Commercial tab details for each related property.

Enter the size of the particular property. The system will calculate the area of this property as a percentage of the total area of all properties contained in the owner’s building. This percentage is used when calculating the proportion of variable outgoings to be charged to each tenant. Enter the number in the Order on schedule field. This number represents the sequence that this property will be displayed in on the Tenancy schedule report. Enter the unit name of this particular property, e.g. Shop 1.

2.4 ADDING A NEW TENANT

You then need to create a number of tenants using New in the Tenant drop-down menu. Set their rent at whatever the current rent is per month, inclusive of GST. It is standard practice that commercial tenants are set up to pay their rent monthly. Many managing agents arrange that commercial tenants pay their rent and outgoings on the first day of each month by either


2-4

commencing the lease on the first of a month or by adjusting the amount of their first monthly payment.

2.4.1 Commercial details for tenant

The next step is to enter the Commercial tab details for each related tenant. Enter the tenant’s business name together with the details of the lease: lease type, option, review date and what the review type is. Any rent arrears will appear on this page.

2.5 BOMA DISBURSEMENT CODES

Excluding rent, all income to and expenses from an owner must be connected to a dissection code. Similarly, for a commercial VO account, they must be connected to a BOMA code. A full set of these codes is provided in a file with the program and may be edited and appended on the codes page of the System Set-up program. As the full list of BOMA codes is very comprehensive, many of the codes are never used and can be confusing to the user. For this reason, it is possible to make a code inactive. In the set-up, there is a check-box next to each code. If a code is not checked, it will not appear in look-up lists in the main program.

2.5.1 Adding new codes

New codes can be added to the list, but they must be connected to a group. Residential codes only have one group. Codes within a group must be numerically contiguous. To insert a new code, highlight the code after which the new code will be inserted. Enter the description of the code. There must be a gap in the numbers to be able to do this. If not, change the description of another code that is not being used. When dealing with tenant accounts and creditor accounts the Residential system uses residential disbursement codes which are in the range of 1 to 99. The Commercial system uses a completely different set of disbursement codes known as BOMA codes, which range from 100 upwards and are divided into two separate groupings: income codes and expenditure codes.


2-5

Any income or expenditure from a VO account must be allocated to a BOMA code. Income codes must not be used for expenses and vice versa.

2.5.2 Managing promotion funds external to the VO account

Firstly, create a new credit type Trust account ledger with a suitable name, e.g. Hotham Centre Promotion Account. Note the number of this new trust account and then edit the BOMA codes, via the GeeDee System Set-up module, by suitably renaming an unused income code (180 series) to identify it as relating specifically to that promotion fund. Additionally, enter the new account number as the Ledger account and tick the To trust box. Accounts can then be raised, including standing accounts, if necessary, and invoices issued. Money received from tenants and allocated to this account will be credited to the related promotion trust account and not the owner or the VO account.

2.6 RENT TO OWNER OR VARIABLE OUTGOINGS ACCOUNT

It is important to understand that the commercial rent portion of collections may be set up to be credited directly to the owner’s account. These rent amounts will then appear as rent on a separate statement in the same way that residential rent payments are handled. Alternatively, these rent amounts will be credited directly to the related VO account. These rent amounts will not appear on the owner’s statement. The VO account will be used to record all collections and payments made on behalf of the related commercial properties. To pay an owner from funds receipted into a VO account you must either: a) Make a disbursement payment from the VO account, or b) Transfer the funds to the owner’s account via an Owner/VO account journal.


2-6

The election as to the allocation of rent is a matter of choice by the owner and/or the managing agent. An owner of a multi-unit complex would normally elect to have his rents appear on his monthly statement with the remaining income and expenses being handled through the VO account. Note: All commercial rent amounts are entered as GST inclusive.


3-1

SECTION 3 OPERATION OF A COMMERCIAL ENTITY

3.1 ACCOUNTS FROM VARIABLE OUTGOINGS

In the Residential system the Creditors accounts from owners funds item allows the input of invoices into the system so that payment can be made from owners’ funds. For accounts to be paid from VO account funds, the Commercial drop-down menu item, Creditors accounts from VOs must be used. This works in an almost identical fashion to the Creditors accounts from owners funds, with the exception being that the BOMA expense codes are used instead of the residential codes. The same list of creditors are used by both Residential and Commercial systems. A commercial owner can have a number of properties connected to that one VO account. It is therefore easier to just select the master property (see 2.2 Setting up a new commercial entity). When paying creditor accounts, the report generated for VO accounts will show the amount and the information in the Pay column in bold print.

3.2 PROPERTY DISBURSEMENT

A property disbursement is a quick alternative way of paying a creditor without having to enter an account in the Creditor system. It is limited to paying only one property expense on a cheque. It can be useful for other items such as refunding rent,etc. As this item takes funds from the owner’s account, it is not suitable for commercial property expenses. Unless it is specifically required to draw funds from the owner and not the VO account, then use the Creditor system.

3.3 COMMERCIAL TENANT BONDS

Under the Residential Tenancies Act 1987, only residential bonds can be sent to the Bond Administrator or be lodged in the separate Bond trust bank account. The Bond Management system in GeeDee is designed to handle only residential tenancy bonds. When a bond is received from a Commercial type tenant (one where the owner has an ABN entered), it will be necessary to have the Credit type Trust ledger account, Commercial bonds. This account must be created if it does not already exist. The bond amount will be allocated in the tenant receipt as Direct to trust and entered against the Commercial bonds trust ledger. If you manage a large number of commercial properties it may be advisable to create a separate Credit type Trust ledger for each tenant’s bond. This action would enable a better method of control and reconciliation of each tenant’s bond. These bonds will not appear on the Bond listings report. A tenant invoice is not raised for a bond.

3.4 COMMERCIAL TENANT STAMP DUTY

Stamp duty paid by a commercial tenant is handled in exactly the same way as stamp duty from a residential tenant. A tenant invoice is not raised for stamp duty.


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3.5 PROPERTY RECEIPT

Property receipts are used when funds are received from a third party for an owner or a VO account. The most frequent use is to receipt funds from an insurance claim. Funds received from tenants or owners are not receipted using this program. When this program is used for commercial properties, the funds are receipted into the VO account and not the owner’s account. Instead of the residential dissection categories appearing, the commercial BOMA codes are used.

3.6 COMMERCIAL JOURNAL

It can sometimes be necessary to transfer funds between the VO accounts and other accounts (usually the owner’s account). For example: • The owner is required to pay a portion of variable outgoings for vacant properties. • There are insufficient funds in the VO account to pay urgent expenses. • The owner must be reimbursed for some expenses. Usage: a) Using the Search or Navigate buttons, identify the owner. The owner and VO account

balances are shown. b) Select which way the funds are going. Click on the Credit radio button. c) Enter some descriptive details. d) Select the appropriate BOMA code. e) Select the appropriate Trust account ledger (usually Owner funds). f) Click on the Post button. Journals cannot be reversed. If an error has been made, then enter another identical journal with the same amount but reverse the Accounts to be debited and credited. A VO account must not go into debit.


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3.7 DISSECTION CALCULATOR

The commercial dissection calculator allows the operator to establish the proportion of an expense that each tenant in a building is liable for. Note that these calculated amounts are not entered into any other part of the program. The commercial dissection calculations are based on the percentages established by the system on the basis of the area of each tenant’s property.

3.8 VO ACCOUNT BUDGET

For a VO account, a budget schedule,using BOMA codes, can be entered. In this way, a report can be printed which will show the expected expenses for a financial year. It is not required to enter a budget; it may be left blank if it not required. Usage: a) Identify the VO account using the Search and Navigate buttons. b) The budget items are entered in the grid by BOMA code.

To add an item: 1.) Click on the Append button 2.) Identify the BOMA code from the pull-down list. 3.) Enter the budget amounts.

To delete an item:

1.) Click on the line 2.) Click on the Delete button.

There are two Print buttons that allow the printing of the budget report for the current year or the next year. The calculation of the individual tenant’s VO charges can be calculated using the dissection calculator.


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The report may be previewed and/or printed using the print preview dialog box that will appear. Once these items have been entered a report for either the current or the next year can be printed. The Convert button will convert the next year’s budget to the current year’s budget.


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SECTION 4 REPORTS

4.1 INCOME AND EXPENSE SUMMARY

The Income and Expense summary is a report which has two forms - it can be either detailed or summary. The report can be selected for specific periods. The detailed option reports each transaction that occurred during the selected period and gives summations by tenant and by BOMA code. The summary option gives summations of the amounts by BOMA code, together with the budget and actual amounts, plus the difference as a percentage.

4.2 VO TENANT INCOME REPORT

This report allows the income received from tenants, into the VO account to be summarised by tenant. Usage: a) Using the Navigator or Search buttons, select the VO account required. b) Select the start period for the report. c) Select the end period for the report. d) Click Start. The owner’s record may be set so that the rent received from the tenant is receipted either into the owner’s account or the VO account. If set to the owner’s account, the rent collections will not show on this report.

4.3 TENANCY SCHEDULE

This is the report most commonly used by commercial property managers to display the overall status of all the units of a building. The number given as Order on schedule in the Commercial property enquiry/maintenance page determines the order of the units. Most of the figures are taken directly from the enquiry/maintenance pages. Some may be calculated from these figures. e.g. yearly rent. Usage: - a) Select either one, or all variable outgoings (owners). b) Check the Show standing invoice items, if required. This is usually not required if the

report is for the client. c) Click the Print button. A Search dialog will appear if a single VO account has been

selected. The report can be viewed and/or printed. The tenant shown is always the latest tenant (by lease date).

The columns are: Unit The name of the unit, e.g. Shop 1. Tenant The tenant’s name. Business name An alternative business name can be entered in the tenant

commercial enquiry/maintenance page. Phones The tenant’s telephone numbers. Area The unit area in square metres. Outgoings Under the following headings:


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a) The designated percentage entered for the property. b) The pro rata share of the entered yearly budget. c) The pro rata share per month.

Note that the figure in b) should be equal to the budgeted outgoings monthly collection entered as a standing invoice item, but it is up to the user to ensure this. This program just does a calculation of what it should be!

Rental Taken from the tenant’s monthly rent and is expressed as: a) The $ amount per square metres per year. b) The $ amount per month. c) The $ amount per year. Lease Under the following headings: a) The commencement and expiry dates from the Tenant maintenance screen. b) The type of the lease. c) The lease options. Rent Other information regarding rent: a) The review date. b) The review type. c) Any vacate date that has been entered. The report may be previewed and/or printed using the print preview dialog box that will appear.

4.4 COMMERCIAL TENANT INVOICES

Tax invoices for rents and other charges are issued monthly to all commercial tenants. There are two types of invoices that can be generated.

4.4.1 Standing accounts

You will need to set up standing accounts for each commercial tenant where recurring charges are involved. Standing accounts are like templates for the tenant accounts that are generated each month. Account items are entered into the Standing account module for each tenant, based on their calculated monthly amount. These will probably be mainly variable outgoings. The related BOMA code, the standard monthly amount for that tenant, together with the From period and the To period are entered. Each month, and only once each month, you must generate these standing account items. The system will generate the accounts for all commercial tenants in the system.

4.4.2 Ad hoc invoices

Accounts for irregular charges can be entered via the Accounts item on the Tenant drop- down menu. Accounts entered must be allocated to the correct BOMA code. Once the standing accounts have been generated, and all ad hoc accounts have been entered, then the tax invoices, which include rent due, can be generated for each tenant. All monies received from commercial tenants must relate to a previously issued tax iInvoice. The Tenant receipt requires that there is an account in existence for all amounts received, other than for rent. Amounts received against future accounts must be posted to Trust account 32001 by way of the Tenant receipt Make credit button.


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4.4.3 Electricity and gas invoices

The Residential menu items are also used for commercial tenants.

4.5 LATE RENT PAYMENT REPORT

This report can be generated via the Commercial drop-down menu. This report will provide sufficient information to enable penalty interest to be charged, if applicable.

4.6 OWNER TAX INVOICE

Owners of commercial properties who are registered for GST will have an ABN on their record, and will be liable to pay the GST on their rent and other taxable collections. Additionally, your real estate company will be required to pay GST on any fees charged to the owner. These fees will appear on the owner’s statement. This tax invoice provides the necessary documentation so that the owner may claim GST credits on the fees. It displays the words,Tax invoice, in accordance with the requirements. These invoices are not necessary for residential tenants as the owner cannot claim tax credits. The information detailed on the statement is sufficient.


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SECTION 5 MANAGEMENT FEES As previously mentioned, management fees on commercial properties need special consideration. Remember, there are two accounts: the owner’s account and the V/O account. On the owner’s account, commission can be deducted in the same manner as for the residential properties. Where a commercial owner has a number of properties the management fees, that will be taken from the owner’s account, can be set for each property. In most situations it is set to zero, which is the normal case for commercial properties. However, management fees can be taken from the owners account, as well as, or instead of the VO account. To set management fees to be taken from an owner’s account, the percentage or fixed amount must be set against all of the owner’s properties in the system. It is possible at the end of the month, because the rents are being credited to the owners account, that there may be insufficient funds. You may find that when you print out the owner trial balance that there is a report on funds in VO accounts or that the balance of VO accounts gives you a warning that there are insufficient funds in the VO account to cover management fees. This situation will then need to be rectified by way of a Commercial journal.


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SECTION 6 GST APPLIED TO COMMERCIAL PROPERTIES

6.1 DISCLAIMER

We would like to point out that we are not tax agents and that the information contained in these training notes is given to assist you running our program. We recommend that you consult with qualified tax agents, the ATO or your institute for definitive advice. We will not be held liable for any errors or omissions in the information contained herein.

6.2 ASSUMPTIONS

The system has been designed to accommodate the most sensible solution regarding GST. This has been done on the basis that: a) Agents are able to raise tax invoices on behalf of their owners. Any income less expenses

is periodically passed on to the owner. It is then the responsibility of the owners to incorporate any income and inclusive tax from the properties managed by the agent into their business income.

b) The owner is ultimately responsible for all creditor invoices for his own expenses, as well as expenses from the VO funds. Although the VO funds are received from the tenant and may be held against expenses, they are, at the end of the day, the responsibility of the owner. Hence, all tax invoices from creditors should contain the owner’s name. Tenants’ invoices may then be raised, using the owner’s ABN and may include items that may be either tax inclusive or free of GST.

6.3 IMPLEMENTATION

Depending on the terms of the contract, you may be able to adjust most rents so that they become GST inclusive. This inclusive rent is then passed on to the owners, who have the responsibility of paying the tax office. In some cases, it may also happen that the contract does not allow for any adjustments of the rents. The following changes have been made to the system: 1. There is a field in which to enter an owner’s (or strata company’s) ABN. This number is

printed on invoices and statements issued to tenants so that they can claim their input tax credit. You will also be able to print an Owners tax invoice detailing the input tax credits which may be claimed. It shows all charges that have been made by your company for services that have included a GST component. It also gives a summary of creditor accounts that have been paid through the trust account, with the GST inclusive component.

2. Each creditor now has a field for the ABN (Australian Business Number) issued by the tax office. The Creditors system allows you to enter the GST amount for each item on an invoice provided the creditor has an ABN.

3. Although the creditor accounts entry for expenses from the commercial VO account is the same as that used for residential properties, no input tax credits are available, unless it is a property where GST is being paid on the rent collected. If you are dealing with a residential property, it is senseless to enter the GST amount included in a total price.


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4. If the owner has an ABN, then the words Tax invoice to – Owner name will appear on work orders. If the owner has no ABN, the word Tax will be omitted to avoid confusion with contractors.

5. The Owner charges screen does not include a field for GST. The assumption is made that ALL fees are subject to GST. The only fee that is not chargeable is BAD, which is automatically calculated at the end of the month. If there is a fee that is not subject to GST, then it needs to be recovered through the creditors system.

6. The Owner monthly statement has not been modified to show details of GST that has been charged by the creditor. The details are shown on the Tax invoice of the owner. This is the document that may be used by the owner to claim input tax credits.

7. There is a check-box field against each property to indicate whether the rent is subject to GST. Some properties that are classified as residential in our system may be subject to GST, and some properties classified as commercial may not be subject to GST on rent. If this is the case the tenant’s invoice/statement will show the GST amount that has been included in the rent amount. If there is no GST on rent, then the invoice will indicate that there is NO GST credit available from the rent charge. It is assumed that for these properties, the GST start date is 1 July 2000.

8. If your company’s ABN is entered in the System Set-up, it will be printed on your letterhead instead of the ACN. The ABN. will eventually replace the ACN.

9. The Tenant accounts and Standing accounts items now allow a GST amount on any charge. Items such as variable outgoings, electricity, gas, etc. can include a GST amount that can be claimed as a tax credit. Other items, like water, rates, etc., although they are in themselves not subject to GST, become so by virtue of the service provided by the owner-tenant relationship.

10. If an owner or strata company has an ABN, then tax invoices can be issued.

6.4 MANAGEMENT FEES ON GST INCLUSIVE RECEIPTS

There appears to be several schools of thought regarding the charging of management fees on the GST component of tenant rent and VO receipted from commercial and strata property tenants (strata owners) where the owner/strata company is registered for GST. Currently, most agents calculate their management fee on the receipted amount less the GST portion. For example, if the inclusive rent is $1,100.00 per month and the management fee rate is 7% then the management fee charged would be $70.00. Added to this fee amount would be the GST, if applicable, of $7.00 making a total charge of $77.00. The second school of thought is that the agent charges the management fee on the total amount received inclusive of GST. The example above would then result in a management fee of $77.00 together with the additional GST, if applicable, of $7.70 making a total charge of $84.70. The difference between these two options would be an additional net amount to the agent of $7.00, exclusive of GST. Agents considering the second option should seek confirmation as to the legality of this option from their institute, their auditor, the REBA Board and any other authority they may consider relevant. Even more importantly, they should carefully inspect the details of their management authorities and the relevant lease agreements to ensure that such a fee has been authorised. It may be prudent to discuss any such increase with the owners and/or tenants concerned. GeeDee Realty Systems does not currently cater for option two. Pending the necessary major upgrade to the system to accommodate this option, any agent who elects to charge the management fee on the GST component of these receipts will need to employ an appropriate


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‘work around’. A suggested ‘work around’ would be to increase the management fee rate by an appropriate amount, e.g. 10%. Whether the management fee rate is inclusive or exclusive of GST would need to be taken into consideration. The contents of this message merely bring to the attention of GeeDee Realty Systems’ users the possibility of charging additional management fees under certain conditions. GeeDee Realty Systems does not hold itself out to be an authority or an adviser on the interpretation or application of the relevant acts, regulations, management authorities and lease agreements. As previously mentioned, agents considering option two must make their own enquiries and form their own opinions as to the legality of such action.


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SECTION 7 OWNER AND VO ACCOUNTS In the GeeDee System there are two accounts associated with any commercial complex: the owner’s account and the VO account. Normally only the rent is received into the owner’s account, and all building expenses received and paid out of the VO account. The user needs to be clear that the funds in both the accounts belong to the owner who is responsible for all income and expenses for the connected properties. The VO account is not a separate little account belonging to tenants where funds can be held. When funds are received to this account, the owner is liable to pay GST on these amounts, and when they are paid out, the owner can collect tax credits. Any journal transfer of funds between the owner and VO account has no bearing on GST. This can cause confusion, because neither the Owner statement nor the VO Income and Expense summary give an exact breakdown of what the owner is liable to pay in GST. Any journal between the two accounts will show up as income on the one and an expense on the other, whereas it has no bearing on the owner’s GST return. Hence, any GST amount attached to these journals is irrelevant. The GST amount will only apply when the journal is to another account – say for the collection of additional management fees.

7.1 OWNER EXPENSES

If the complex has vacant properties, then you may be using journals to make the owner’s contribution to the VO. For GST purposes, these are NOT owner expenses. You are merely moving money from one account to another. The expenses are the payment of funds to creditors. For this reason we devised the GST invoice in order to show what the owner can claim in terms of GST credits. Apart from showing the management fees that you are charging, we also include a summary of all the creditor accounts that have been paid during the month.

7.2 OWNER INCOME

The owner’s income side is not so simple. It is the sum of rent and other payments received into both accounts during the period. The owner needs to add up the receipt amounts from both accounts (not including journals). The VO budget can be made up of some items which are GST free, e.g. water, rates, etc., and others which are not, e.g. electricity. We understand that the Tax Office ruling is that GST is applicable to all variable outgoings. So, this means that the proportion of VO income which is GST, is far greater that the proportion of overall expenses. The owner is responsible for the payment of all GST, so you will periodically need to make either a cheque payment to the owner or journal an amount to his account. We suggest that you create a new BOMA code for this purpose.

7.3 OWNER VO PAYMENTS

Another interesting point comes about in the payment of VO for vacant properties by the owner. The VO budget, excluding GST, for say 10 shops, may be $10,000. The tenants will need to pay $1000 + $100 GST. The owner, however, already pays GST when he pays the creditors through the VO account. It seems illogical that he should need to pay it again as part of his VO contribution for vacant properties. If he does, then you will need to refund it again when you pay him out for the GST received into the VO account.


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7.4 A SINGLE ACCOUNT

You may consider that managers of large complexes will commonly receipt all the funds into one account only. Then at the end of every month a payment is made to the owner,retaining a reasonable operating float. This may be done in the GeeDee System by de-selecting the option Rent to owner account on the GeeDee Desktop (Owner-Commercial page). If you do this, make sure you change it immediately after an end of month roll-over. Changing it during the month may create a messy mixture. We also suggest that you consult with GeeDee Support first. The usual Owner statement will then be blank every month and you will then need to make a manual monthly payment to the owner as a creditor. You will need to send the owner the Income and Expense summary instead of the normal Owner statement. In our experience, this practice of having two accounts has evolved so that the owner can have a simple statement of his rental income and is then not bothered with the VO. With the advent of GST this has changed quite radically. Having the owner funds in two accounts has become quite cumbersome. The owner is now intimately concerned with what has been received and paid out of the VO account.


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SECTION 8 STANDARD FEATURES USED BY THE COMMERCIAL MODULE

There are a number of non-specific features that are used in the management of commercial properties. a) Tenant receipt – receives rent and outstanding accounts. b) Tenant invoices/statements – prints tax invoices for commercial tenants. c) Creditors account payment – pays creditor accounts, not from the owner account for

the property, but from the VO account. d) Various reports – have the option to select data for commercial properties. e) Alerts – apply equally to residential and commercial properties. f) Owner charges – debits the charge from the owner’s account. g) Tenant electricity consumption – allows the charging of electricity accounts with

common meters. h) New owner, tenant and property have a second page with additional data fields.


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SECTION 9 SAMPLE REPORTS • Creditors’ Accounts Report....................................................................... A- 1 • Dissection Calculator Report .................................................................... A- 2 • Commercial Budget Report ...................................................................... A- 3 • Income and Expense Detail – One month ................................................ A- 4 • Income and Expense Detail – Three months............................................ A- 5 • Income and Expense Summary – One month.......................................... A- 6 • Income and Expense Summary – Three months ..................................... A- 7 • Tenant Income Summary – One month.................................................... A- 8 • Tenant Income Summary – Three months ............................................... A- 9 • Tenancy Schedule.................................................................................... A- 10 • Tenant Tax Invoice ................................................................................... A- 11 • Commercial Late Rent Report .................................................................. A- 12 • Owner Tax Invoice.................................................................................... A- 13 • Commercial Owner Current Statement..................................................... A- 14 Note: Please refer to the sample reports contained in the main GeeDee Realty Systems’ Trust Accounting and Property Management Training Handbook.


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Date: 08/04/2003 Time: 12:01:43 PM

GeeDee - Real Estate Creditors Accounts Outstanding

All Areas - Name Required

Creditor Name Pri Date Property Invoice No Details Amount Pay Payment Charter Plumbing a 5 08/04/2003 20 Kearns Cres, S 1234 Repairs to sink 87.00 Chq 87.00 City of Melville 5 08/04/2003 Harris & Pembroke 963167126 Shire Rates - Part 1250.00 Chq 1250.00 Como Plumbing S 5 08/04/2003 77 Webster St - Se Repairs to toliet 94.00 Chq 94.00 Ellenbrook Landsc 5 08/04/2003 Harris & Pembroke 934 Common area mai 112.00 Chq 112.00 EMI Property Mainte 5 08/04/2003 3 Canham Way, Un 931 Maintenance to gutt 174.00 Chq 174.00 GIO Australia 5 08/04/2003 77 Webster St - Se 7413-453 Insurance 2700.00 Chq 2700.00 Action Lock Service 5 03/04/2003 256 Oxford Street, 1 B337 Replace front door 102.55 No All Seasons Garde 5 29/01/2003 67 Stirling Highway Remove picket fen 137.50 No

5 29/01/2003 67 Stirling Highway Removal of tree & r 137.50 Hold 5 13/02/2003 67 Stirling Highway Lawnmowing 11/8/ 33.00 No 5 18/03/2003 67 Stirling Highway Lawnmowing 31/8/ 27.50 No 5 02/04/2003 67 Stirling Highway Lawnmowing 22/9/ 27.50 No 5 07/04/2003 67 Stirling Highway Remove tree & rem 137.50 No

Aurora Painting 5 21/02/2003 67 Stirling Highway 863 Painting - additiona 521.00 No 5 21/02/2003 67 Stirling Highway 863 Painting-bdrm 1,2, 275.00 No

City of Belmont 5 08/04/2003 264 St Kilda Road, 207768 Council rates2nd i 119.00 No City of Wanneroo 5 18/03/2003 7 Baretta Road, Un 164782 Council rates 1st in 393.00 No

5 18/03/2003 14 Prindiville Dve, 186694 Council rates 1st in 2067.94 Hold E Setter 5 24/03/2003 62 Florence Road 15 Lawnmowing 5/6, 9 90.00 No Owners of Bicton C 5 07/04/2003 33 Pt Walter Rd, U Electricity 26/7/00 - 1108.49 Hold Owners of Strata Pl 5 19/03/2003 16 Annois Road, S Reserve Fund 1/10 25.21 Hold

5 19/03/2003 16 Annois Road, S Strata levies 1/10 - 201.64 Hold 5 19/03/2003 16 Annois Road, S Reserve fund 1/10 108.16 Hold 5 19/03/2003 16 Annois Road, S Strata levies 1/10 - 865.20 Hold 5 19/03/2003 16 Annois Road, S Reserve Fund 1/10 25.21 Hold 5 19/03/2003 16 Annois Road, S Strata Levies 1/10 - 201.64 Hold

Owners of Strata Pl 5 19/03/2003 7 Baretta Road, Un Strata levies 1/10 - 90.57 No 5 19/03/2003 7 Baretta Road, Un Strata Levies 1/10 - 135.85 No 5 19/03/2003 14 Prindiville Dve, Strata Levies 1/10 - 480.00 No 5 19/03/2003 7 Baretta Road, Un Strata Levies 1/10 - 108.68 No

Plantum Pty Ltd 5 11/02/2003 67 Stirling Highway 19 Attend to front wall 127.30 No 5 05/03/2003 67 Stirling Highway 32 Repairs to front fen 90.00 No

Poolgrave Engrave 5 26/03/2003 20 Kearns Cres, S 401694 Attend to signs Uni 52.80 Hold Roy Weston - Whitf 5 19/03/2003 89 Caridean Street, Strata Levies 1/10 - 175.09 Hold State Revenue Dep 5 03/04/2003 18 Preston Street C 125066 Land Tax 1st install 806.25 Hold

5 08/04/2003 256 Oxford Street L 124385 Land Tax 2000/01 415.15 Hold 5 08/04/2003 89 Caridean Street, 171767 Land Tax 2000/01 139.65 Hold

The Tap Doctor 5 12/03/2003 71 Mount Street, U 2172 Install taps to hand 118.80 Hold Town of Vincent 5 28/02/2003 195 Brisbane Stree 35323 Rubbish Charge 1/ 173.25 Hold Water Corporation 5 29/01/2003 67 Stirling Highway 0000002178 Final water reading 15.30 Hold

5 11/03/2003 70 Blanche Street 9005835681 Water Rates Bal 1s 1279.90 Hold 5 18/03/2003 9 Cnr Carson & We 9004448102 Water 23/3/00 - 13/ 15.45 No 5 24/03/2003 70 Blanche Street 9005835681 Water consumptio 356.85 Hold 5 27/03/2003 50 St Johns Wood 9001470937 Water 1/4/00 - 21/9 222.05 Hold 5 27/03/2003 47 St Johns Wood 9001461707 Water 1/4/00 - 21/9 191.60 Hold 5 03/04/2003 7 Tenth Avenue, Un 9002266903 Water rates 2nd ins 108.00 Hold 5 03/04/2003 48 Wellington St, U 9001905275 Water rates 2nd ins 175.00 Hold 5 03/04/2003 264 St Kilda Road, 9005004634 Water rates 2nd ins 124.40 Hold 5 04/04/2003 46 Alfred Road CL 9001367657 Water Consumptio 175.90 Hold 5 08/04/2003 20 Kearns Cres, S water rates 2nd ins 1731.80 Hold

Cheques Total 4417.00 Deft Total 0.00 Total Paid 4417.00 Total Unpaid 13914.18


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Date: 08/04/2003 Time: 10:09:42 AM

GeeDee - Real Estate SHire Rates 2003-2004

Castlehill Shopping Centre

Unit Current Tenant Percentage Dissection Shop 15 First Base Investments Pty Ltd 9.96 522.61 Shop 15a Calypso Hair Design 8.49 445.80 Shop 17 Vanity Fur Dog Grooming 9.35 490.80 Shop 97 Bicton Self Serve 23.35 1225.21 Shop 99 Andrews & Prince Butchers 16.59 870.55 Shop 101 Al Dente Pasta 10.93 573.55 Shop 101a Castlehill S/C Syndicate 101a 9.23 484.60 Shop 103 Castlehill S/C Syndicate 103 12.10 634.89

Totals 100.00 5248.00


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Date: 08/04/2003 Time: 12:05:56 PM

GeeDee - Real Estate Current Expense Budget


Category Code Description Budget Outgoings Recoverable 169 Water & Sewerage Rates 1900.00

172 Insurance 2700.00 Statutory Outgoings 201 Shire Rates 3200.00

204 Water Consumption 1800.00 Repairs & Maintenance Wages, 332 General 2000.00 Gardening 452 Gardening Contractors 1200.00

Budget Total 12800.00


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Date: 08/04/2003 Time: 12:41:45 PM

GeeDee - Real Estate Income & Expenses - December 2001 to December 2001


Date Ref. Details Paid To GST Amount Income Miscellaneous Income 141 Interest 02/04/2003 R4437 Andrews & Prince Butchers 28/09/2002 - 27/10/2002 82.22 7.47 02/04/2003 R4437 Andrews & Prince Butchers 28/10/2002 - 27/11/2002 65.44 5.95 02/04/2003 R4437 Andrews & Prince Butchers 28/11/2002 - 27/12/2002 48.10 4.37 02/04/2003 R4437 Andrews & Prince Butchers 28/12/2002 - 27/01/2003 32.23 2.85 02/04/2003 R4437 Andrews & Prince Butchers 28/01/2003 - 27/02/2003 13.98 1.27 241.97

SubTotal 21.91 241.97 Outgoings Recoverable 161 Outgoings-General 24/03/2003 R4338 First Base Investments Pty Ltd 30/03/2003 - 29/04/2003 95.57 8.69 95.57 01/04/2003 R4423 Vanity Fur Dog Grooming 30/03/2003 - 29/04/2003 89.72 8.16 89.72 25/03/2003 R4343 Calypso Hair Design 28/02/2003 - 29/03/2003 81.46 7.41 81.46 01/04/2003 R4419 Bicton Self Serve 30/03/2003 - 29/04/2003 224.05 20.37 224.05 02/04/2003 R4437 Andrews & Prince Butchers 28/02/2003 - 29/03/2003 159.18 14.47 159.18 27/03/2003 R4368 Castlehill S/C Syndicate 103 30/03/2003 - 29/04/2003 116.10 10.55 116.10 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 29/03/2003 64.94 5.90 27/03/2003 R4367 Castlehill S/C Syndicate 101a 30/03/2003 - 29/04/2003 88.56 8.05 153.50

SubTotal 83.60 919.58 162 Management Fee 24/03/2003 R4338 First Base Investments Pty Ltd 30/03/2003 - 29/04/2003 43.42 3.95 43.42 01/04/2003 R4423 Vanity Fur Dog Grooming 30/03/2003 - 29/04/2003 40.78 3.71 40.78 25/03/2003 R4343 Calypso Hair Design 08/02/2003 - 08/02/2004 24.02 2.18 25/03/2003 R4343 Calypso Hair Design 28/12/2002 - 29/03/2003 5.86 0.53 25/03/2003 R4343 Calypso Hair Design 28/02/2003 - 29/03/2003 35.54 3.23 65.42 01/04/2003 R4419 Bicton Self Serve 30/03/2003 - 29/04/2003 80.59 7.33 80.59 02/04/2003 R4437 Andrews & Prince Butchers 28/12/2002 - 29/03/2003 11.45 1.04 02/04/2003 R4437 Andrews & Prince Butchers 28/02/2003 - 29/03/2003 68.06 6.19 79.51

SubTotal 28.16 309.72 168 Shire/Municipal Rates 25/03/2003 R4343 Calypso Hair Design 28/12/2002 - 29/03/2003 88.83 8.08 88.83 02/04/2003 R4437 Andrews & Prince Butchers 28/12/2002 - 29/03/2003 173.45 15.77 173.45 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 29/03/2003 21.44 1.95 21.44

SubTotal 25.80 283.72 169 Water & Sewerage Rates 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 29/06/2003 116.69 10.60 116.69

SubTotal 10.60 116.69 172 Insurance 25/03/2003 R4343 Calypso Hair Design 08/02/2003 - 08/02/2004 364.02 33.09 364.02 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 08/02/2004 366.43 33.31 366.43

SubTotal 66.40 730.45 Expenses Repairs & Maintenance Wages, M 336 Plumbing 08/04/2003 C14182 repair pipe in cupboard, 15 Onley Plumbing & Gas 15.20 167.20

SubTotal 15.20 167.20 Miscellaneous 401 Auditor Fees Outgoings 08/04/2003 C14198 Audit 2000 James Rooney & Sacha 32.55 358.00

SubTotal 32.55 358.00 Gardening 452 Gardening Contractors 27/03/2003 C14150 Lawnmowing x4 Higgins Lawnmowing S 16.45 181.00

SubTotal 16.45 181.00

Opening Balance 4259.81 Total Income 2602.13 Total GST on Income = 236.47 Total Expenses 706.20 Total GST on Expenditure = 64.20 Closing Balance 6155.74


A-4


Date: 08/04/2003 Time: 12:51:54 PM

GeeDee - Real Estate Income & Expenses - October 2001 to December 2001


Date Ref. Details Paid To GST Amount Income Miscellaneous Income 141 Interest 21/02/2003 R4073 Andrews & Prince Butchers 27/10/2001 - 28/04/2002 184.59 0.00 21/02/2003 R4073 Andrews & Prince Butchers 29/06/2002 - 29/07/2002 60.00 0.00 21/02/2003 R4073 Andrews & Prince Butchers 30/07/2002 - 27/08/2002 32.04 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/08/2002 - 27/09/2002 50.85 0.00 02/04/2003 R4437 Andrews & Prince Butchers 28/09/2002 - 27/10/2002 82.22 7.47 02/04/2003 R4437 Andrews & Prince Butchers 28/10/2002 - 27/11/2002 65.44 5.95 02/04/2003 R4437 Andrews & Prince Butchers 28/11/2002 - 27/12/2002 48.10 4.37 02/04/2003 R4437 Andrews & Prince Butchers 28/12/2002 - 27/01/2003 32.23 2.85 02/04/2003 R4437 Andrews & Prince Butchers 28/01/2003 - 27/02/2003 13.98 1.27 569.45

SubTotal 21.91 569.45 Outgoings Recoverable 161 Outgoings-General 28/01/2003 R3808 First Base Investments Pty Ltd 28/01/2003 - 27/02/2003 95.57 8.69 25/02/2003 R4093 First Base Investments Pty Ltd 28/02/2003 - 29/03/2003 95.57 8.69 24/03/2003 R4338 First Base Investments Pty Ltd 30/03/2003 - 29/04/2003 95.57 8.69 286.71 03/02/2003 R3881 Vanity Fur Dog Grooming 28/01/2003 - 27/02/2003 89.72 8.16 10/03/2003 R4221 Vanity Fur Dog Grooming 28/02/2003 - 29/03/2003 89.72 8.16 01/04/2003 R4423 Vanity Fur Dog Grooming 30/03/2003 - 29/04/2003 89.72 8.16 269.16 29/01/2003 R3822 Calypso Hair Design 28/12/2002 - 27/01/2003 81.46 7.41 19/02/2003 R4056 Calypso Hair Design 28/01/2003 - 27/02/2003 81.46 7.41 25/03/2003 R4343 Calypso Hair Design 28/02/2003 - 29/03/2003 81.46 7.41 244.38 05/02/2003 R3910 Bicton Self Serve 28/01/2003 - 27/02/2003 224.05 20.37 26/02/2003 R4107 Bicton Self Serve 28/02/2003 - 29/03/2003 224.05 20.37 01/04/2003 R4419 Bicton Self Serve 30/03/2003 - 29/04/2003 224.05 20.37 672.15 21/02/2003 R4073 Andrews & Prince Butchers 28/09/2002 - 27/10/2002 140.83 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/10/2002 - 27/11/2002 140.83 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/11/2002 - 27/12/2002 140.83 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/12/2002 - 27/01/2003 159.18 14.47 21/02/2003 R4073 Andrews & Prince Butchers 28/01/2003 - 27/02/2003 159.18 14.47 02/04/2003 R4437 Andrews & Prince Butchers 28/02/2003 - 29/03/2003 159.18 14.47 900.03 07/02/2003 R3931 Al Dente Pasta 28/01/2003 - 27/02/2003 104.88 9.53 11/03/2003 R4234 Al Dente Pasta 28/02/2003 - 29/03/2003 104.88 9.53 209.76 11/02/2003 R3956 Castlehill S/C Syndicate 103 28/01/2003 - 27/02/2003 116.10 10.55 11/02/2003 R3956 Castlehill S/C Syndicate 103 27/02/2003 - 28/01/2003 -116.10 -10.55 11/02/2003 R3964 Castlehill S/C Syndicate 103 28/01/2003 - 27/02/2003 116.10 10.55 06/03/2003 R4197 Castlehill S/C Syndicate 103 28/02/2003 - 29/03/2003 116.10 10.55 27/03/2003 R4368 Castlehill S/C Syndicate 103 30/03/2003 - 29/04/2003 116.10 10.55 348.30 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 29/03/2003 64.94 5.90 27/03/2003 R4367 Castlehill S/C Syndicate 101a 30/03/2003 - 29/04/2003 88.56 8.05 153.50

SubTotal 241.96 3083.99 162 Management Fee 22/01/2003 R3769 First Base Investments Pty Ltd 28/12/2002 - 29/06/2003 12.18 1.11 28/01/2003 R3808 First Base Investments Pty Ltd 28/01/2003 - 27/02/2003 43.42 3.95 25/02/2003 R4093 First Base Investments Pty Ltd 08/02/2003 - 08/02/2004 28.16 2.56 25/02/2003 R4093 First Base Investments Pty Ltd 28/12/2002 - 29/03/2003 6.88 0.63 25/02/2003 R4093 First Base Investments Pty Ltd 28/02/2003 - 29/03/2003 43.42 3.95 24/03/2003 R4338 First Base Investments Pty Ltd 30/03/2003 - 29/04/2003 43.42 3.95 177.48 03/02/2003 R3881 Vanity Fur Dog Grooming 28/12/2002 - 27/01/2003 -0.90 -0.08 03/02/2003 R3881 Vanity Fur Dog Grooming 28/12/2002 - 29/06/2003 11.44 1.04 03/02/2003 R3881 Vanity Fur Dog Grooming 28/01/2003 - 27/02/2003 40.78 3.71 24/02/2003 R4083 Vanity Fur Dog Grooming 08/02/2003 - 08/02/2004 26.45 2.40 10/03/2003 R4221 Vanity Fur Dog Grooming 28/12/2002 - 29/03/2003 6.46 0.59 10/03/2003 R4221 Vanity Fur Dog Grooming 28/02/2003 - 29/03/2003 40.78 3.71 01/04/2003 R4423 Vanity Fur Dog Grooming 30/03/2003 - 29/04/2003 40.78 3.71 165.79 29/01/2003 R3822 Calypso Hair Design 28/12/2002 - 27/01/2003 35.50 3.23 19/02/2003 R4056 Calypso Hair Design 28/12/2002 - 29/06/2003 10.39 0.94 19/02/2003 R4056 Calypso Hair Design 28/01/2003 - 27/02/2003 35.54 3.23 25/03/2003 R4343 Calypso Hair Design 08/02/2003 - 08/02/2004 24.02 2.18 25/03/2003 R4343 Calypso Hair Design 28/12/2002 - 29/03/2003 5.86 0.53


A-5.1


Date: 08/04/2003 Time: 12:51:55 PM



Date Ref. Details Paid To GST Amount 25/03/2003 R4343 Calypso Hair Design 28/02/2003 - 29/03/2003 35.54 3.23 146.85 20/01/2003 R3752 Bicton Self Serve 28/12/2002 - 29/06/2003 28.56 2.60 05/02/2003 R3910 Bicton Self Serve 28/01/2003 - 27/02/2003 80.59 7.33 19/02/2003 R4055 Bicton Self Serve 08/02/2003 - 08/02/2004 66.03 6.00 26/02/2003 R4107 Bicton Self Serve 28/12/2002 - 29/03/2003 16.12 1.47 26/02/2003 R4107 Bicton Self Serve 28/02/2003 - 29/03/2003 80.59 7.33 01/04/2003 R4419 Bicton Self Serve 30/03/2003 - 29/04/2003 80.59 7.33 352.48 21/02/2003 R4073 Andrews & Prince Butchers 28/09/2002 - 27/12/2002 16.15 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/09/2002 - 27/10/2002 61.87 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/10/2002 - 27/11/2002 61.87 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/11/2002 - 27/12/2002 61.87 0.00 21/02/2003 R4073 Andrews & Prince Butchers 28/12/2002 - 27/01/2003 68.06 6.19 21/02/2003 R4073 Andrews & Prince Butchers 28/12/2002 - 29/06/2003 20.30 1.84 21/02/2003 R4073 Andrews & Prince Butchers 28/01/2003 - 27/02/2003 68.06 6.19 21/02/2003 R4073 Andrews & Prince Butchers 08/02/2003 - 08/02/2004 46.91 4.26 02/04/2003 R4437 Andrews & Prince Butchers 28/12/2002 - 29/03/2003 11.45 1.04 02/04/2003 R4437 Andrews & Prince Butchers 28/02/2003 - 29/03/2003 68.06 6.19 484.60 07/02/2003 R3931 Al Dente Pasta 28/12/2002 - 29/06/2003 13.37 1.22 07/02/2003 R3931 Al Dente Pasta 28/01/2003 - 27/02/2003 45.67 4.15 11/03/2003 R4234 Al Dente Pasta 08/02/2003 - 08/02/2004 30.91 2.81 11/03/2003 R4234 Al Dente Pasta 28/12/2002 - 29/03/2003 7.55 0.69 11/03/2003 R4234 Al Dente Pasta 28/02/2003 - 29/03/2003 45.67 4.15 143.17 11/02/2003 R3956 Castlehill S/C Syndicate 103 28/12/2002 - 29/06/2003 14.80 1.35 11/02/2003 R3956 Castlehill S/C Syndicate 103 29/06/2003 - 28/12/2002 -14.80 -1.35 0.00

SubTotal 115.36 1470.37 168 Shire/Municipal Rates 25/02/2003 R4093 First Base Investments Pty Ltd 28/12/2002 - 29/03/2003 104.13 9.47 104.13 10/03/2003 R4221 Vanity Fur Dog Grooming 28/12/2002 - 29/03/2003 97.79 8.89 97.79 25/03/2003 R4343 Calypso Hair Design 28/12/2002 - 29/03/2003 88.83 8.08 88.83 26/02/2003 R4107 Bicton Self Serve 28/12/2002 - 29/03/2003 244.11 22.19 244.11 02/04/2003 R4437 Andrews & Prince Butchers 28/12/2002 - 29/03/2003 173.45 15.77 173.45 11/03/2003 R4234 Al Dente Pasta 28/12/2002 - 29/03/2003 114.27 10.39 114.27 06/03/2003 R4197 Castlehill S/C Syndicate 103 28/12/2002 - 29/03/2003 126.49 11.45 126.49 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 29/03/2003 21.44 1.95 21.44

SubTotal 88.19 970.51 169 Water & Sewerage Rates 22/01/2003 R3769 First Base Investments Pty Ltd 28/12/2002 - 29/06/2003 184.61 18.46 184.61 03/02/2003 R3881 Vanity Fur Dog Grooming 28/12/2002 - 29/06/2003 190.71 17.34 190.71 19/02/2003 R4056 Calypso Hair Design 28/12/2002 - 29/06/2003 173.22 15.75 173.22 20/01/2003 R3752 Bicton Self Serve 28/12/2002 - 29/06/2003 476.07 43.28 476.07 21/02/2003 R4073 Andrews & Prince Butchers 28/12/2002 - 29/06/2003 338.26 30.75 338.26 07/02/2003 R3931 Al Dente Pasta 28/12/2002 - 29/06/2003 222.86 20.26 222.86 11/02/2003 R3956 Castlehill S/C Syndicate 103 28/12/2002 - 29/06/2003 246.69 22.43 11/02/2003 R3956 Castlehill S/C Syndicate 103 29/06/2003 - 28/12/2002 -246.69 -22.43 11/02/2003 R3964 Castlehill S/C Syndicate 103 28/12/2002 - 29/06/2003 246.69 22.43 246.69 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 29/06/2003 116.69 10.60 116.69

SubTotal 178.87 1949.11 172 Insurance 25/02/2003 R4093 First Base Investments Pty Ltd 08/02/2003 - 08/02/2004 426.73 38.79 426.73 24/02/2003 R4083 Vanity Fur Dog Grooming 08/02/2003 - 08/02/2004 400.76 36.43 400.76 25/03/2003 R4343 Calypso Hair Design 08/02/2003 - 08/02/2004 364.02 33.09 364.02 19/02/2003 R4055 Bicton Self Serve 08/02/2003 - 08/02/2004 1000.46 90.95 1000.46 21/02/2003 R4073 Andrews & Prince Butchers 08/02/2003 - 08/02/2004 710.85 64.62 710.85 11/03/2003 R4234 Al Dente Pasta 08/02/2003 - 08/02/2004 468.34 42.58 468.34 06/03/2003 R4197 Castlehill S/C Syndicate 103 08/02/2003 - 08/02/2004 518.42 47.13 518.42 27/03/2003 R4367 Castlehill S/C Syndicate 101a 08/03/2003 - 08/02/2004 366.43 33.31 366.43

SubTotal 386.90 4256.01


A-5.2


Date: 08/04/2003 Time: 12:51:55 PM



Date Ref. Details Paid To GST Amount Expenses Statutory Outgoings 201 Shire Rates 21/02/2003 C14027 Council rates 1st inst 4 00/01 City of Melville 280.00 1230.55

SubTotal 280.00 1230.55 202 Water & Sewerage Rates 24/01/2003 C13933 Water Rates 1st inst. 2 00/01 Water Corporation 0.00 1853.80

SubTotal 0.00 1853.80 204 Water Consumption 05/03/2003 C14082 Water 21/2/00 - 3/8/00 Water Corporation 0.00 621.80

SubTotal 0.00 621.80 Insurance Premiums 211 Fire Insurance 21/02/2003 C14029 Insurance renewal 12/8-12/8/01 GIO Australia 358.06 4253.79

SubTotal 358.06 4253.79 Cleaning 251 Contract Fee 05/03/2003 C14072 Sanitary disposal unit Pink Healthcare Serv 14.30 157.30

SubTotal 14.30 157.30 254 Cleaning Materials 05/03/2003 C14063 Cleaning 19/6/00-14/7/00 G Sgro 0.00 200.00 05/03/2003 C14063 Cleaning 17/7-11/8/00 & towels G Sgro 0.00 300.35

SubTotal 0.00 500.35 255 Toilet Requisites 05/03/2003 C14062 Toilet hand towels July Ensign Services (Aus 5.27 58.00 05/03/2003 C14062 Toilet hand towels August Ensign Services (Aus 4.22 46.41

SubTotal 9.49 104.41 Repairs & Maintenance Wages, M 336 Plumbing 24/01/2003 C13927 Repair cistern - keeps running Onley Plumbing & Gas 5.80 63.80 11/02/2003 C13991 Repair tap ladies toilet Onley Plumbing & Gas 6.00 66.00 08/04/2003 C14182 repair pipe in cupboard, 15 Onley Plumbing & Gas 15.20 167.20

SubTotal 27.00 297.00 Building Intelligence & Emerge 343 Repairs & Maintenance 11/02/2003 J3086 Repair To Back Door 6.36 70.00

SubTotal 6.36 70.00 Miscellaneous 401 Auditor Fees Outgoings 08/04/2003 C14198 Audit 2000 James Rooney & Sacha 32.55 358.00

SubTotal 32.55 358.00 Gardening 452 Gardening Contractors 27/03/2003 C14150 Lawnmowing x4 Higgins Lawnmowing S 16.45 181.00

SubTotal 16.45 181.00 Administration 480 Management Fees 11/02/2003 J3083 GST Fixed Sundry Fee July 00 0.63 6.90 11/02/2003 J3147 Management Fee 29.61 325.41 11/02/2003 J3157 GST Fixed Sundry Fee July 00 -0.63 -6.90 12/02/2003 J3162 Fixed Sundry Fee 6.90 75.92 14/03/2003 J3253 Management Fee 58.94 850.04 17/03/2003 J3263 Fixed Sundry Fee 6.90 75.92 11/02/2003 C13995 GST Fixed Sundry Fee July 00 Graham Darcy R/E Tru 6.90 6.90

SubTotal 109.25 1334.19 Payments to Landlords 501 Payments to Landlord 26/02/2003 J3174 Interest LatePay Sp 99 Dec-Jan 0.00 66.60 26/02/2003 J3175 Interest LatePay Sp 99 Feb-Apr 0.00 327.48 14/03/2003 J3256 GST Water/shire Rates Jul-Sep 0.00 230.66

SubTotal 0.00 624.74


A-5.3


Date: 08/04/2003 Time: 12:51:55 PM



Date Ref. Details Paid To GST Amount

Opening Balance 5443.23 Total Income 12299.44 Total GST on Income = 1033.19 Total Expenses 11586.93 Total GST on Expenditure = 853.46 Closing Balance 6155.74


A-5.4


Date: 08/04/2003 Time: 12:42:15 PM

GeeDee - Real Estate Income and Expense Budget Summary - December 2001 to December 2001


BOMA Code Description Budget Actual Budget-Actual % Diff. Income

141 Interest 241.97 -241.97 161 Outgoings-General 919.58 -919.58 162 Management Fee 309.72 -309.72 168 Shire/Municipal Rates 283.72 -283.72 169 Water & Sewerage Rates 1900.00 116.69 1783.31 94 172 Insurance 2700.00 730.45 1969.55 73

Total Income 4600.00 2602.13 1997.87

Expenses 201 Shire Rates 3200.00 3200.00 100 204 Water Consumption 1800.00 1800.00 100 332 General 2000.00 2000.00 100 336 Plumbing 167.20 -167.20 401 Auditor Fees Outgoings 358.00 -358.00 452 Gardening Contractors 1200.00 181.00 1019.00 85

Total Expenditure 8200.00 706.20 7493.80

A-6


Date: 08/04/2003 Time: 12:48:59 PM

GeeDee - Real Estate Income and Expense Budget Summary - October 2001 to December 2001


BOMA Code Description Budget Actual Budget-Actual % Diff. Income

141 Interest 241.97 -241.97 161 Outgoings-General 919.58 -919.58 162 Management Fee 309.72 -309.72 168 Shire/Municipal Rates 283.72 -283.72 169 Water & Sewerage Rates 1900.00 116.69 1783.31 94 172 Insurance 2700.00 730.45 1969.55 73

Total Income 4600.00 2602.13 1997.87

Expenses 201 Shire Rates 3200.00 1230.55 1969.45 62 202 Water & Sewerage Rates 1853.80 -1853.80 204 Water Consumption 1800.00 621.80 1178.20 65 211 Fire Insurance 4253.79 -4253.79 251 Contract Fee 157.30 -157.30 254 Cleaning Materials 500.35 -500.35 255 Toilet Requisites 104.41 -104.41 332 General 2000.00 2000.00 100 336 Plumbing 129.80 -129.80 343 Repairs & Maintenance 70.00 -70.00 401 Auditor Fees Outgoings 358.00 -358.00 452 Gardening Contractors 1200.00 181.00 1019.00 85 480 Management Fees 1334.19 -1334.19 501 Payments to Landlord 624.74 -624.74

Total Expenditure 8200.00 11419.73 -3219.73

A-7


Date: 08/04/2003 Time: 12:40:34 PM

GeeDee - Real Estate Tenant Income Summary - November 2001 to November 2001


BOMA Description MTD Income YTD Income Months A/C s Accounts O/S First Base Investments Pty Ltd

161 Outgoings-General 95.57 95.57 162 Management Fee 78.46 78.46 168 Shire/Municipal Rates 104.13 104.13 172 Insurance 426.73 426.73

Tenant Totals 704.89 704.89

Calypso Hair Design 161 Outgoings-General 81.46 81.46 162 Management Fee 45.93 45.93 169 Water & Sewerage Rates 173.22 173.22


Vanity Fur Dog Grooming 161 Outgoings-General 89.72 89.72 162 Management Fee 73.69 73.69 168 Shire/Municipal Rates 97.79 97.79 172 Insurance 400.76 400.76


Bicton Self Serve 161 Outgoings-General 224.05 224.05 162 Management Fee 162.74 162.74 168 Shire/Municipal Rates 244.11 244.11 172 Insurance 1000.46 1000.46


Andrews & Prince Butchers 141 Interest 327.48 327.48 161 Outgoings-General 740.85 740.85 162 Management Fee 405.09 405.09 169 Water & Sewerage Rates 338.26 338.26 172 Insurance 710.85 710.85


Al Dente Pasta 161 Outgoings-General 104.88 104.88 162 Management Fee 84.13 84.13 168 Shire/Municipal Rates 114.27 114.27 172 Insurance 468.34 468.34


Shape Up Hair & Beauty 161 Outgoings-General 23.62 279.09 162 Management Fee 14.04 114.74 168 Shire/Municipal Rates 75.11 75.11 169 Water & Sewerage Rates 71.61 170 Land Tax 27.49 27.49 172 Insurance 29.27


Castlehill S/C Syndicate 101a Tenant Totals


A-8.1


Date: 08/04/2003 Time: 12:40:34 PM

GeeDee - Real Estate Tenant Income Summary - November 2001 to November 2001


BOMA Description MTD Income YTD Income Months A/C s Accounts O/S Castlehill S/C Syndicate 103

161 Outgoings-General 116.10 116.10 168 Shire/Municipal Rates 126.49 126.49 172 Insurance 518.42 518.42


GRAND Totals 7353.98 7353.98 140.26 597.31


A 8.2


Date: 08/04/2003 Time: 12:41:06 PM

GeeDee - Real Estate Tenant Income Summary - September 2001 to November 2001


BOMA Description MTD Income YTD Income Months A/C s Accounts O/S First Base Investments Pty Ltd

161 Outgoings-General 95.57 286.71 162 Management Fee 78.46 177.48 168 Shire/Municipal Rates 104.13 104.13 169 Water & Sewerage Rates 184.61 172 Insurance 426.73 426.73


Calypso Hair Design 161 Outgoings-General 81.46 162.92 162 Management Fee 45.93 81.43 169 Water & Sewerage Rates 173.22 173.22


Vanity Fur Dog Grooming 161 Outgoings-General 89.72 269.16 162 Management Fee 73.69 166.69 168 Shire/Municipal Rates 97.79 97.79 169 Water & Sewerage Rates 190.71 172 Insurance 400.76 400.76


Bicton Self Serve 161 Outgoings-General 224.05 672.15 162 Management Fee 162.74 352.48 168 Shire/Municipal Rates 244.11 244.11 169 Water & Sewerage Rates 476.07 172 Insurance 1000.46 1000.46


Andrews & Prince Butchers 141 Interest 327.48 327.48 161 Outgoings-General 740.85 740.85 162 Management Fee 405.09 405.09 169 Water & Sewerage Rates 338.26 338.26 172 Insurance 710.85 710.85


Al Dente Pasta 161 Outgoings-General 104.88 314.64 162 Management Fee 84.13 188.84 168 Shire/Municipal Rates 114.27 114.27 169 Water & Sewerage Rates 222.86 172 Insurance 468.34 468.34


Shape Up Hair & Beauty 161 Outgoings-General 78.35 23.62 279.09 162 Management Fee 29.39 14.04 114.74 168 Shire/Municipal Rates 26.92 75.11 75.11 169 Water & Sewerage Rates 71.61 170 Land Tax 27.49 27.49 172 Insurance 29.27

Tenant Totals 134.66 140.26 597.31


A-9.1


Date: 08/04/2003 Time: 12:41:07 PM

GeeDee - Real Estate Tenant Income Summary - September 2001 to November 2001


BOMA Description MTD Income YTD Income Months A/C s Accounts O/S Castlehill S/C Syndicate 101a

Tenant Totals

Castlehill S/C Syndicate 103 161 Outgoings-General 116.10 348.30 168 Shire/Municipal Rates 126.49 126.49 169 Water & Sewerage Rates 246.69 172 Insurance 518.42 518.42


GRAND Totals 7353.98 10673.65 140.26 597.31


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0.3


GeeDee - Real Estate 801 Canning Highway Applecross WA 6153 Phone: 9364 6677 Fax: 9364 7433 EMail: [email protected]

Real Estate Agent Licensee: Graham Darcy ABN: 99 444 222 222

Major Framers Unit 1 3 Canham Way GREENWOOD WA 6024

Tenant Statement/Tax Invoice Issued Under the Authority of Pentelic Pty Ltd ABN : 60 628 299 393 8 April 2003

Accounts Due For : Unit 1 3 Canham Way, GREENWOOD WA 6024 Date Details From To GST Amount

29/03/2003 Rent 30/03/2003 28/04/2003 164.79 1812.69 28/04/2003 Rent 29/04/2003 29/05/2003 164.79 1812.69 18/03/2003 Outgoings-General- 30/03/2003 29/04/2003 5.72 62.93 18/03/2003 Management Fee- 30/03/2003 29/04/2003 12.69 139.57

Total Amount Due : $3827.88 Includes GST of : $347.99

Cut Here


Major Framers Unit 1 3 Canham Way

29/03/2003 Rent 30/03/2003 28/04/2003 1812.69 28/04/2003 Rent 29/04/2003 29/05/2003 1812.69 18/03/2003 Outgoings-General 29/04/2003 62.93 18/03/2003 Management Fee 29/04/2003 139.57

Total Amount Due : $3827.88

Please Make Payment to: GeeDee - Real Estate BSB No: 086-999 801 Canning Highway Acc No: 123456678 Applecross WA 6153 Ref No: 00245

A-11


Date: 08/04/2003 Time: 11:38:27 AM

GeeDee - Real Estate Commercial Tenant Late Payment Report

Payments Since 09/03/2003 more than 5 days late

Tenant Property Paid On Due On Days Late Payment Rent Cycle Al Dente Pasta Harris & Pembroke St,101 BICTON 6157 11/03/2003 28/02/2003 11 $691.95 $691.95 Month Andrews & Prince Butche Harris & Pembroke St,99 BICTON 6157 02/04/2003 28/02/2003 33 $1134.24 $1134.24 Month ASA Appliances 3 Canham Way, Unit 2 GREENWOOD 6024 12/03/2003 28/02/2003 12 $1364.00 $1364.00 Month Biniris (Aust) Pty Ltd 20 Kearns Cres, Suite 07 APPLECROSS 6153 10/03/2003 28/02/2003 10 $393.25 $393.25 Month Biniris (Aust) Pty Ltd 20 Kearns Cres, Suite 07 APPLECROSS 6153 07/04/2003 30/03/2003 8 $393.25 $393.25 Month Calypso Hair Design Harris & Pembroke St,15a BICTON 6157 25/03/2003 28/02/2003 25 $537.83 $537.83 Month Edwards,Mr Michael 20 Kearns Cres, Suite 12a APPLECROSS 6153 27/03/2003 28/02/2003 27 $413.60 $413.60 Month Homestay Village Group 20 Kearns Cres, Suite 04 APPLECROSS 6153 12/03/2003 28/02/2003 12 $957.00 $957.00 Month Major Framers 3 Canham Way, Unit 1 GREENWOOD WA 6024 13/03/2003 28/02/2003 13 $1812.69 $1812.69 Month Swift,Terry & Patricia 20 Kearns Cres, Suite 12b APPLECROSS 6153 20/03/2003 28/02/2003 20 $536.80 $536.80 Month Vanity Fur Dog Groomin Harris & Pembroke St,17 BICTON 6157 10/03/2003 28/02/2003 10 $617.87 $617.87 Month


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GeeDee - Real Estate 801 Canning Highway Applecross WA 6153 Phone: 9364 6677 Fax: 9364 7433 EMail: [email protected]


Castlehill Shopping Centre Syndicate C/- Mr & Mrs Galati 144 Phoenix Road HAMILTON HILL WA 6163

OWNER TAX INVOICE For : December 2001 Owner ABN: 21 853 243 406 Date Printed : 08/04/2003

Landlord Account Fees and Charges Property Fee Description Qty Value GST Total

Totals 0.00 0.00

V/O Account Fees and Charges (GST Inclusive) Property Fee Description Qty Value GST Total

Management Fees 1 75.92 6.90 75.92 Totals 6.90 75.92

Suppliers Invoices for Property Expenses Property Supplier ABN Details GST Total Harris & Pembroke St,1 Higgins Lawnmowing Se 14 028 748 532 Lawnmowing x4 16.45 181.00

Onley Plumbing & Gas 90 330 672 069 repair pipe in cupboard, 15.20 167.20 Oldfield & Jones 222 222 222 222 Audit 2000 32.55 358.00

Harris & Pembroke St,1 Castlehill Shopping Cent 21853243406 Outgoings 9/9 - 30/9/0 5.90 64.94 Castlehill Shopping Cent 21853243406 Shire rates 9/9 - 30/9/0 1.95 21.44 Castlehill Shopping Cent 21853243406 Water Rates 9/9 - 31/1 10.60 116.69 Castlehill Shopping Cent 21853243406 Insurance 9/9 - 12/8/01 33.31 366.43 Castlehill Shopping Cent 21853243406 Outgoings 1/10 - 31/10 8.05 88.56

Harris & Pembroke St,1 Castlehill Shopping Cent 21853243406 Outgoings 1/10 - 31/10 10.55 116.10 Totals 134.56 1480.36

TOTAL FEES and PROPERTY EXPENSES $1556.28 Total includes GST of $141.46

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GeeDee - Real Estate 801 Canning Highway Applecross WA 6153 Phone: 9364 6677 Fax: 9364 7433 EMail: [email protected].


Castlehill Shopping Centre Syndicate C/- Mr & Mrs Galati 144 Phoenix Road HAMILTON HILL WA 6163

Page: 1 Date: 08/04/2003 Owner Statement / Tax Invoice GST Debit Credit

Opening Balance 0.00 Rental Income

Property Tenant From To Ref 15 Harris & Pembroke St First Base Investments Pty Ltd 30/03/2003 29/04/2003 R4338 59.81 657.91 15a Harris & Pembroke St Calypso Hair Design 28/02/2003 29/03/2003 R4343 48.89 537.83 17 Harris & Pembroke St Vanity Fur Dog Grooming 30/03/2003 29/04/2003 R4423 56.17 617.87 97 Harris & Pembroke St Bicton Self Serve 30/03/2003 29/04/2003 R4419 111.01 1221.09 99 Harris & Pembroke St Andrews & Prince Butchers 28/02/2003 29/03/2003 R4437 103.11 1134.24 101 Harris & Pembroke St Al Dente Pasta Paid To 29/03/2003 101a Harris & Pembroke St Castlehill S/C Syndicate 101a Paid To 07/03/2003 103 Harris & Pembroke St Castlehill S/C Syndicate 103 Paid To 27/08/1998

Total Rent 378.99 4168.94

Creditor Payments Property Details Ref 101a Harris & Pembroke St Outgoings 9/9 - 30/9/00-Castlehill Shopping Centre C14148 5.90 64.94 101a Harris & Pembroke St Shire rates 9/9 - 30/9/00-Castlehill Shopping Centre C14148 1.95 21.44 101a Harris & Pembroke St Water Rates 9/9 - 31/12/00-Castlehill Shopping Centre C14148 10.60 116.69 101a Harris & Pembroke St Insurance 9/9 - 12/8/01-Castlehill Shopping Centre C14148 33.31 366.43 101a Harris & Pembroke St Outgoings 1/10 - 31/10/00-Castlehill Shopping Centre C14148 8.05 88.56 103 Harris & Pembroke St Outgoings 1/10 - 31/10/00-Castlehill Shopping Centre C14148 10.55 116.10

Total Creditor Payments 70.36 774.16

BAD Debits Tax 5.10

Balance 3389.68

Cheque Payment Due To Castlehill S/Centre Syndicate $3389.68

E. & O. E.

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