What sales agents need to know about sales trust accounts before EOFY

The end of financial year (EOFY) isn’t just about tax returns and team dinners – it’s also about making sure your commissions are in check, your settlements are smooth, and your income is properly accounted for.

One area agents often overlook during EOFY? Sales trust accounts.

If you’re not across how these work – or where your commissions are sitting – you could miss out on timely payments or run into compliance issues. Let’s break down what you need to know (and do) before June 30.

What is a sales trust?

In simple terms, a sales trust account is a bank account used to hold deposits for property sales – like the buyer’s 10% deposit.

That money can’t be touched or disbursed until certain legal milestones are hit (usually settlement or an unconditional contract). Sales trust accounts are tightly regulated and mishandling them can lead to major headaches – not just for your agency, but for you too if you’re waiting to get paid.

Even if you’re not personally handling trust admin, it’s still important to understand the flow of funds so you know when (and why) you’re getting paid.

EOFY checklist for sales agents

EOFY is your opportunity to review, reconcile and reset.

Here’s a quick checklist to make sure your commissions and trust processes are in order.

• Have all your pending commissions been invoiced and tracked?
• Are deposits for pending settlements receipted correctly into the right ledger? (Sales, Marketing, or IBD)?
• Have you confirmed commission amounts with your admin or finance team?
• Any discrepancies between what you expected and what you received?
• Do you know when your next disbursement is coming?
• Are your CRM records up to date with correct milestones and dates?

Understanding your ledgers in Agentbox

In the Agentbox Sales Trust Module, transactions are tracked across three ledgers:

• ‍Sales ledger – for standard buyer deposits‍
• Marketing ledger – for vendor-paid marketing funds‍
• IBD ledger – for interest-bearing accounts set up for vendors or purchases

Using the correct ledger ensures cleaner reconciliation and fewer mistakes at EOFY.

How to avoid commission delays

The biggest delays usually come down to admin oversights or unclear communication.

Here’s what helps:

• Be proactive with your admin team – don’t assume everything’s been processed
• Keep your CRM updated with the right legal names and contract details
• Double-check milestones like “unconditional” or “settled” have been marked
• Use tools like ABA file generation to make bulk supplier or commission payments in one go - saving time and reducing manual entry errors.

Tools to make EOFY smoother (and faster)

With the Agentbox Sales Trust Module, you can:

• Track receipts, payments and bank adjustments
• Reconcile your trust accounts using open and closing balance reports
• Create ABA files for bulk disbursements
• Email receipts directly to vendors
• Log supplier payments and issue remittance advice
• Separate and manage vendor marketing funds independently

→ See how Agentbox helps.

FAQs

What’s the difference between a rental and sales trust account?

A rental trust holds ongoing rent for managed properties. A sales trust holds deposits for property sales, usually released at settlement.

Can I access commissions before settlement?

No. Until legal conditions are met, funds must remain in the trust account.

What happens if a commission is delayed past EOFY?

You can still report it as expected income, but accurate tracking helps with forecasting and performance review.

EOFY doesn’t have to be stressful – especially when you know what to look for. Reviewing your commissions, keeping your CRM clean, and understanding how sales trust accounts work can help you hit the ground running in FY26 (with less chasing and more earning).

Want better visibility on your commissions and deals? Book a demo here (or simply enter your details below) with one of our specialists and see how smart tracking and automation make EOFY that much easier.