1. Review transaction capture
Check the available source records, transaction coding and property allocation. Flag missing invoices, unusual charges, duplicates or unapplied receipts instead of making unsupported assumptions.
For property management companies using Buildium
Buildium Accounting for Property Management Companies
Keep the accounting work behind your Buildium reports organized: transaction review, reconciliations, payable tracking, tenant and owner ledger checks, and a clearer month-end handoff.
Start with the workflow
Accounting support built around your existing Buildium process
Property management software can connect leases, tenant activity, bills, payments and owner reporting, but clean financial output still depends on the underlying records and review process. We focus on the accounting tasks that keep those records consistent and make exceptions visible before reporting is finalized.
The work is scoped to your portfolio, access permissions, reporting calendar and internal controls. We do not assume every Buildium account uses the same chart of accounts, approval path, bank connection or report configuration.
Buildium accounting workflow
A monthly process that leaves a clear review trail
2. Reconcile cash and ledger balances
Compare bank activity to the recorded transactions, track valid timing items and route unexplained differences for investigation. Reconcile the supporting ledgers required by the client's process.
3. Check payables and owner activity
Review vendor invoices, open payables, owner activity and deposit or other liability schedules against the available support and agreed coding rules.
4. Prepare reporting and exceptions
Assemble the agreed month-end outputs, explain unusual balances and maintain a concise open-item list for the client reviewer before reports are issued.
Exact report names, available features and workflow steps depend on the Buildium plan, configuration, permissions and current product behavior. We work from the environment and access the client authorizes; we do not assume every account uses the same setup.
Control and review
Keep owner funds, company records and approvals distinguishable
Property managers may maintain records for money belonging to owners or tenants alongside the management company's own income and expenses. The accounting process should preserve those distinctions, connect control balances to the relevant supporting detail, and make unresolved items visible. Trust, escrow and deposit rules vary by jurisdiction and account arrangement, so the responsible manager or qualified local professional must confirm the requirements that apply.
Reconciliation preparation and reporting should also be separated from final approval and movement of funds. Agree who can post adjustments, approve bills, change payout details, release payments and approve owner statements. Access permissions should reflect those responsibilities.
What we agree before work starts
- Properties, entities and reporting periods in scope
- Buildium access permissions and source records
- Reconciliation and reporting deadlines
- Who reviews exceptions and approves transactions
- Owner statement format and delivery handoff
- How unresolved items are tracked and escalated
The engagement may cover recurring monthly tasks, seasonal capacity or a defined cleanup. The scope should identify deliverables and review responsibilities rather than promise a vague outcome.
Buildium accounting questions
Frequently Asked Questions
What Buildium accounting work can Accounstone support?
Depending on the engagement and authorized access, support may include transaction coding and review, bank reconciliations, open-item tracking, accounts payable preparation, tenant and owner ledger checks, deposit schedule review and month-end reporting.
Will you change our Buildium setup or migrate our records?
The starting point is the existing configuration, chart of accounts, property structure and reporting process. A migration or configuration change is not assumed; any change would need to be separately scoped and approved.
Can you prepare owner statements in Buildium?
Defined preparation and reconciliation tasks can be discussed. The workflow should identify the source records, review steps, exception handling and who authorizes final statements or distributions.
Do you handle trust accounting compliance?
Accounstone can discuss agreed accounting preparation and reconciliation tasks. Legal, licensing and jurisdiction-specific compliance decisions must be confirmed by the responsible property manager, broker or qualified local professional.
Can you work alongside our internal property management staff?
Yes, the engagement can be defined around recurring tasks, seasonal volume or a backlog, with clear handoffs, access permissions, deadlines and review responsibilities.
Can you reconcile Buildium reports to bank statements?
Available cash, receipt and disbursement reports can be compared with bank activity and the accounting ledger, with unmatched items documented.
Can support cover several properties or associations?
Scope can cover an agreed property or association list, with separate records and reporting preserved according to the client's setup.
How are tenant balances and receipts reviewed?
Tenant-ledger activity can be checked against available receipts, charges and bank deposits; unclear or disputed items are flagged for the manager.
What information is needed for the first close?
Useful inputs include system access, bank statements, current owner and tenant ledgers, property list, close checklist and reviewer preferences.
Can you prepare schedules for the company's CPA?
Agreed reconciliations and year-end schedules can be organized in the CPA's preferred format, with supporting records and open items attached.
Free consultation
Tell Us Which Buildium Tasks Need Attention
Share the portfolio, reporting deadlines, current process and accounting tasks you need completed. We can discuss a defined scope around your existing setup.
- Explain the work, software or process involved
- Keep your existing review and approval responsibilities
- Discuss the scope before deciding how to proceed
Keep property accounting moving
Discuss Buildium accounting support around the records, reports and review controls your property management business already uses.