From the desk of the
Christopher B. Smith, CFE, CREI |
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Commission continues to evaluate software
As reported in the Winter 1996 Real Estate Bulletin [please see Volume 26, Number 4, page 4] the Commission's Audits and Investigations staff is evaluating real estate trust accounting software packages.
The purpose? To compile a list of real estate software accounting packages that meet the minimum License Law and rule requirements and to make that list available to real estate licensees. The Commission cautions you, however, that inclusion in the list does not ensure that the software package will meet your specific needs.
Software vendors have been invited to submit samples of their products, and the staff continues to analyze these samples for compliance with the License Law and Commission rules, including whether all bank deposits are identifiable by date, payor, and purpose of deposit; and whether all disbursements are identifiable by check number, date, payee and purpose.
An updated list appears on page 7 of this Bulletin. If the software you are using does not appear in the list, you may wish to contact your software vendor to determine whether it participated in the Commission's evaluation program.
If the vendor did not participate and now wishes to do so, request the vendor to contact the Commission's Audits and Investigations Division at P.O. Box 17100, Raleigh, N.C. 27619-7100; (919) 733-9580 ext. 6.