LawWare Accounting has a fully integrated Transit Money System.
Section 258(1) of the Act - Clause 81 of the Regulations requires the practice to record and retain brief particulars identifying the relevant transactions and purpose for which Transit Money was received. Where a third party cheque comes into the possession of the law practice, the cheque details may be recorded in the Transit Money Register. Details include the matter details, purpose of the payment, the drawer of the cheque, relevant dates and the person from whom the transit money was received.
A listing can be requested at any time showing all Transit Monies held but not yet acted upon.
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