It is little known outside of Victoria that in May 2009 it launched a web based trust accounting system. The LIV has now informed Legal Practice Bulletin (LPB) that it intends to promote the service to the profession nationwide.
LPB asked if it can be used for example by NSW practitioners and the LIV responded that it can. It will only not produce the end of year statement to be lodged with the Law Society of NSW but that can be easily produced manually. The LIV plans to further enhance the system so that individual State requirements are automated. The cost of the service is a $200 set up fee and $66.00 per month or $55.00 per month for LIV members. Link to the LIV Trust Accounting System