Trust accounting
Bulletproof trust accounting.
Intuitive, easy on the eyes and best-in-class ledger security.
Why its time for an upgrade
Enterprise grade accounting software in your pocket; tailored for strata management.
Import existing statements
Upload your bank statements and our AI will parse them to suggest which transactions should be linked to which building expenses to save you time when doing bank reconciliations. This speeds up both initial onboarding and day-to-day operations. You are still required to review and sign-off on all transactions before they are committed to the ledger.
- When you set up a new building, the OurCommons platform will adjust reminders and regulatory controls based on the building's state-based legal requirements, including fund structure (e.g. administrative and capital works funds) and configuring a chart of accounts.
- Set up your desired bank reconciliation frequency that suits each building. Allocate BPAY identifiers to your owners and automate levy notices and receipting.
Immutable and audit-trailed
Because ledger entries are immutable (reversals are done via contra-entries, rather than deletion), the financial record stays clean. Every change is timestamped and logged for audit trails.
- Double-entry ledger that enforces balances and legal timeframes (adapts to your building depending on its state and relevant regulations).
- Your team can draft disbursements and levy schedules, but money only leaves the trust account after approval by an authorised trust approver. Defaults to the LIC, but you can add additional approvers (treasurer, committee chair, etc.) if you wish, or where your state requires it.
- Every status change, receipt, reconciliation and levy submission writes to an append-only audit log. Those log entries cannot be modified or deleted: providing you with an accurate paper trail.
- Invoice attachments are enforced before disbursement approval, proof of a two-quote process for anything over a certain threshold, and state-aware reconciliation verification where your jurisdiction requires LIC or delegate sign-off.
Your financials page lets you see everything in one place
See an intuitive breakdown of building funds, easily log receipts or disbursements, track your levy arrears and payment plans, make sure your bank rec is up to date and your audit is prepared for. And, for those of us who often forget those pesky admin approvals, you'll also see a count of disbursements waiting on your approval (if you're an approver).
Trust Accounting
Aurora Tower — SP 98231
Aurora Admin Fund
$72,840.00
Current balance
Aurora Capital Works Fund
$318,200.00
Current balance
Total Trust Funds
$391,040.00
All funds combined
Quick Actions
Trust Account
ActiveAccount Name
Aurora Tower Admin Fund Trust Account
Bank / ADI
Commonwealth Bank of Australia
BSB
062-000
Account Number
10012345
UID
AT-ADMIN-001
Licensee in Charge
Aden Bates
BPAY Biller Code
55512340
Date Opened
1 Jul 2022
Built around BPAY and all the major banks
Your owners can pay their levy notices with BPay and you can receipt those payments (and others) on the platform.
- Levy notices generated in the system are linked via BPAY reference (CRN) tied each lot. Owners see the biller code and CRN in their portal and on their PDF notice.
- Feeling techy? Upload your bank's BPAY remittance file and OurCommons matches payments to outstanding notices. You need to review exact, partial and overpayment matches and confirm. After that, receipts, levy balances and ledger entries are posted in the same process.
- Prefer to receipt manually? No problems. Record BPAY, EFT, cheque or cash payments one at a time against any outstanding notice. Each receipt posts a double-entry journal to the trust ledger automatically.
- Approved EFT disbursements can be batched into a standard ABA Direct Entry file. This is then ready to upload to your bank for bulk payments.
- For bank reconciliation, drop in a CSV, OFX or PDF statement. Transactions are auto-matched to the ledger; CoMo parses your PDFs and can sense-check CSVs. Unmatched items stay flagged until you review and confirm. Nothing hits the ledger from a statement import without your sign-off.
Levies
Aurora Tower — SP 98231
Outstanding Notices
Select a notice to record a payment
Bank Reconciliation
PSAR cl.27(5) — monthly reconciliation must be completed within 21 days of month end
| Period | Opening Bank | Closing Ledger | Closing Bank | Status | Balanced | Actions |
|---|---|---|---|---|---|---|
| January 2026 | $130,000.00 | $129,600.00 | $129,600.00 | Auditor Reviewed | ||
| Feb 2026 | $129,600.00 | $129,200.00 | $129,200.00 | Auditor Reviewed | ||
| Mar 2026 | $129,200.00 | $128,800.00 | $128,800.00 | Completed | ||
| Apr 2026 | $128,800.00 | $128,400.00 | $128,400.00 | Completed | ||
| May 2026 | $128,400.00 | $128,000.00 | $128,000.00 | Completed |
Bank Reconciliation
PSAR cl.27(5) — monthly reconciliation must be completed within 21 days of month end
| Period | Opening Bank | Closing Ledger | Closing Bank | Status | Balanced | Actions |
|---|---|---|---|---|---|---|
| January 2026 | $130,000.00 | $129,600.00 | $129,600.00 | Auditor Reviewed | ||
| Feb 2026 | $129,600.00 | $129,200.00 | $129,200.00 | Auditor Reviewed | ||
| Mar 2026 | $129,200.00 | $128,800.00 | $128,800.00 | Completed | ||
Period 1 Mar 2026 – 31 Mar 2026 Uncleared Deposits $0.00 Unpresented Cheques $0.00 Reconciled Balance $128,800.00 Opening Ledger $129,200.00 Closing Ledger $128,800.00 Completed 5 Apr 2026 Notes Monthly reconciliation — auto-completed by SM | ||||||
| Apr 2026 | $128,800.00 | $128,400.00 | $128,400.00 | Completed | ||
| May 2026 | $128,400.00 | $128,000.00 | $128,000.00 | Completed | ||
Auditor view is read-only. Your strata manager marks reconciliations reviewed after your off-system sign-off.
Statements always ready and auditors welcome
Generate income and expenditure reports for your committee, produce an audit-ready document pack in one .zip folder, and invite your auditor to browse the records read-only (or let them download everything themselves, if they're old school).
- Pick a period and generate branded PDFs per fund (we get your logo and colour scheme on sign-up). Income & Expenditure statements are pulled live from the ledger, plus a Statement of Key Financial Information (SKFI) for larger schemes.
- Where your state requires it, generate quarterly treasurer reports with per-lot levy breakdown, expenditure and fund balances.
- Annual audit? One click builds a .zip file with everything an auditor expects: financial statements, bank reconciliations, levy register, disbursements (with invoice attachments), receipts register and trial balance.
- Invite your appointed auditor with read-only access for a set period. They can browse the ledger, reconciliations and statements on the platform.
What now?
Get your ledger sorted, legend
Whether you want a demo or a quick call; we're sure you'll be impressed.