The Legal Profession Act 2004 was proclaimed to come into force on 1 October 2005. The Legal Profession
Regulation 2005, which details the recording requirements for law practices that receive, hold and disburse
trust money, also commenced on 1 October 2005. LawWare Accounting has ensured the Trust Accounting
System reflects the latest Regulations, and has developed other programs to help practitioners comply with
these new regulations, including,
Trust Accounting System - Section 254 of the Act
Changes are available as a Free update to those clients who have purchased the modules and subscribe
to the Telephone Support and Enhancement program. It can be downloaded from the Support area.
Controlled Money – Division 4 of Part 8 of the Regulations
The Controlled Money module is linked to existing clients and is fully integrated with LawWare Accounting
System. The new system complies with the latest regulations.
Transit Money Register – 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.
Securities Packet Register – Rule 14 states:
"A solicitor who is instructed by a person to hold in safe custody, a will or any deed, document, or other
valuable property, must record in a register maintained for that sole purpose in the solicitor’s office,
 The name and address of the person
A short description of the item held for the person in safe custody
The date of the solicitor’s receipt of the item
The identifier of the safe custody packet, in which the item is held by the solicitor."
The LawWare Securities Packet/Will Register is available as a module within LawWare Accounting and is fully
interfaced with the clients. The system monitors movement in and out of the Register with powerful search
facilities. When documents are released to the client a receipt is produced for signature and the movement is
recorded in the Register.
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