30Trust account ledger trial balance—the Act, s 86

#### 30 Trust account ledger trial balance—the Act, s 86 30 Trust account ledger trial balance—the Act, s 86 > > (1) A licensee must, within 21 days after the end of each named month, prepare a trial balance statement of all ledger accounts current as at the end of the month. > > > (2) The trial balance statement must— > > > > > (a) specify the month to which it refers and the date of its preparation, and > > > > > (b) list each ledger account that does not have a zero balance at the end of the month by stating— > > > > > > > (i) the name of the person on behalf of whom the agent acts, and > > > > > > > (ii) the reference number or other identification, and > > > > > > > (iii) the balance of the account at the end of the month, and > > > > > (c) show the total of the ledger account balances at the end of the month, and > > > > > (d) show a comparison between— > > > > > > > (i) the total, and > > > > > > > (ii) the balance in the cash book reconciled with the balance in the trust account as required by section 27(5)(b). > > Maximum penalty— > > > (a) for a corporation—40 penalty units, or > > > (b) otherwise—20 penalty units.