Real Estate Accounting That Gives You Clearer Financial Insights

Question 1

What is real estate accounting?

Answer

Real estate accounting involves tracking and managing the financial activity associated with properties, projects, rentals, and real estate transactions. This can include rental income, property expenses, repairs, improvements, financing costs, acquisition costs, renovation expenses, and property-level profitability.

Question 2

Do you provide bookkeeping for real estate investors?

Answer

Yes. We provide specialized bookkeeping and accounting for real estate investors, landlords, property managers, house flippers, wholesalers, and other real estate businesses across the USA. We can organize your books to provide clear financial information by property, project, or business activity.

Question 3

Can you track accounting separately for each property?

Answer

Yes. We can track income and expenses at the individual property level. With QuickBooks Online, we can use the Class feature to track revenue, expenses, and profitability by property or project. This provides greater visibility into the performance of individual investments.

Question 4

Do you work with QuickBooks Online for real estate accounting?

Answer

Yes. We work with QuickBooks Online (QBO) and can structure your accounting based on your business and reporting requirements. Where appropriate, we use QBO Classes to track properties, projects, or other business activities without unnecessarily creating a complicated chart of accounts.

Question 5

Do you work with AppFolio, Buildium, and Rentec?

Answer

Yes. We provide accounting support for businesses using AppFolio, Buildium, and Rentec. Our services can include transaction classification, reconciliations, property-level reporting, owner-related activity, rental income and expense tracking, and coordination between your property management platform and accounting records.

Question 6

Can you handle accounting for property management companies?

Answer

Yes. We support property management businesses with accounting for rental income, management fees, owner transactions, security deposits, property expenses, repairs, maintenance, and other property-related activity. We can also help maintain clear property-level and owner-level financial records.

Question 7

Do you provide bookkeeping for short-term rentals such as Airbnb and VRBO?

Answer

Yes. We provide accounting support for short-term rental properties, including rental income, platform fees, cleaning expenses, supplies, maintenance, operating expenses, and other property-related transactions.

Question 8

Do you provide accounting for long-term rental properties?

Answer

Yes. We can track rental income, repairs, maintenance, property expenses, financing-related transactions, and other ongoing activity for long-term rental properties. Property-level tracking can also help you understand the profitability of each rental.

Question 9

Do you provide bookkeeping for house flipping businesses?

Answer

Yes. We track the costs associated with each flip, including property acquisition costs, renovation expenses, contractor payments, materials, financing costs, holding costs, and other project expenses. This allows you to determine the overall profitability of each property flip.

Question 10

Do you provide accounting for real estate wholesalers and assignment deals?

Answer

Yes. We provide bookkeeping support for real estate wholesale and assignment transactions, including assignment fees, earnest money, closing-related transactions, and other applicable deal activity.

Question 11

Can you track the profitability of each real estate project?

Answer

Yes. We can structure your accounting to track project-specific revenue and expenses, allowing you to compare the total income generated by a project against its acquisition, renovation, financing, holding, and other related costs.

Question 12

Do you provide cost segregation accounting support?

Answer

Yes. We can help organize and classify property-related costs so your CPA or tax professional can efficiently incorporate the results of a Cost Segregation Study into the tax return. We coordinate the accounting records with the information provided by your tax professional or cost segregation specialist.

Question 13

Can you prepare property-level Profit & Loss reports?

Answer

Yes. We can provide property-level Profit & Loss statements, income and expense summaries, cash flow information, and profitability reports, depending on your accounting setup and reporting requirements.

Question 14

How do you keep track of expenses for multiple properties?

Answer

We can structure your accounting to identify transactions by property, project, class, location, or other appropriate tracking categories. This allows expenses such as repairs, maintenance, utilities, insurance, management fees, and other costs to be associated with the appropriate property.

Question 15

Can you reconcile my real estate bank accounts?

Answer

Yes. We perform regular bank and credit card reconciliations to ensure transactions are recorded completely and accurately. For property management businesses, we can also assist with reconciling property-related accounts and identifying discrepancies that require attention.

Question 16

Can you clean up my existing real estate books?

Answer

Yes. We can review existing accounting records, identify classification issues, unreconciled transactions, duplicate entries, incorrect property allocations, and other bookkeeping issues, and help bring the books up to date.

Question 17

Can you work with my existing accountant or CPA?

Answer

Absolutely. We can work alongside your CPA, tax preparer, or other financial professionals. Our goal is to maintain clean and organized accounting records so your tax professional has reliable financial information when preparing tax returns and making tax-related adjustments.

Question 18

How often should real estate books be reconciled?

Answer

For most active real estate businesses, monthly reconciliation is a good practice. Regular reconciliation helps identify missing transactions, classification errors, duplicate entries, and other discrepancies before they become larger problems.

Question 19

Can you handle accounting for a growing real estate portfolio?

Answer

Yes. Our accounting approach can be structured to scale as you acquire additional properties. We can help establish consistent property-level tracking and reporting so you can maintain visibility across an expanding portfolio.

Question 20

Why should I use a specialized real estate bookkeeper instead of a general bookkeeper?

Answer

Real estate businesses have accounting requirements that can differ significantly from ordinary service businesses. Property-level tracking, acquisition and renovation costs, rental income, security deposits, financing, project profitability, and property management activity require appropriate accounting treatment and detailed organization.

Accounting & Financial Services

Bookkeeping

Payroll

Income Tax

Sales Tax

1099s

CFO Services

Not sure which service is right for you?

Accounting & Financial Services

Bookkeeping

Payroll

Income Tax

Sales Tax

1099s

CFO Services

Not sure which service is right for you?

Real Estate Accounting That Gives You Clearer Financial Insights

Accounting Built Around Your Real Estate Business

From Raw Material to Real Results

TrackTransactions

Organizeby Property

Get AccurateFinancial Records

UnderstandPerformance

MakeBetter Decisions

Grow YourReal Estate Portfolio

Comprehensive Accounting Support for Every

Property-Level Accounting

Wholesale & Assignment

House Flipping Accounting

Property Management Accounting

Short-Term Rental Accounting

Long-Term Rental Accounting

Cost Segregation Support

AppFolio Accounting Support

Buildium Accounting Support

Rentec Accounting Support

Real Estate Investor Reporting

QuickBooks Online Accounting

Property Insights. Better Decisions. Greater Returns.

Know Your Property Performance

Simplify Your Real-Estate Accounting

Make Smarter Investment Decisions

Let’s Take the Complexity Out of Your Real Estate Accounting.

Real Estate Accounting FAQs