Keep bank activity, accounting balances and relevant tenant or owner ledger detail connected through a documented reconciliation and review process.
Property managers may need to explain how bank activity, accounting records and individual tenant or owner balances relate to one another. A bank account can reconcile while an individual ledger remains incomplete, or an old timing item can carry forward without a clear owner or explanation.
A controlled workflow defines which records are being compared, the date and account population used, how exceptions are documented and who reviews proposed corrections. The exact process depends on the account arrangement, client policy and applicable local requirements.
Tasks are agreed before work begins. Each schedule should show the period, source records, calculation, unresolved items and reviewer handoff.
Compare the relevant bank statement with the accounting records for the same period. Identify deposits in transit, outstanding payments, bank charges, reversals and timing differences, and retain the supporting detail for review.
Where the account structure calls for it, compare the book or control-account balance with the combined tenant, owner or beneficiary ledger detail. Record the exact population and reporting date used in the comparison.
Review posted receipts, unapplied cash, returned payments, voided or reissued items and documented disbursements. Keep deposit liabilities and amounts held for others distinct from management-company revenue.
Maintain a dated list of unreconciled items with the amount, source, property or ledger, period, supporting evidence, owner and next action. Bring forward unresolved items until they are explained and reviewed.
Organize the statement, ledger exports, reconciliation calculations, adjustment support and reviewer comments into the format agreed with the client. Any proposed accounting correction remains subject to client review and approval.
Connect completed reconciliation schedules with the wider close process, including tenant and deposit ledgers, owner statement preparation and property-to-general-ledger reconciliation when those tasks are included in scope.
Agree the account, property or entity population, statement dates, source reports and applicable client procedures before calculating a reconciliation.
Compare cleared transactions with the accounting records and list timing items, missing entries, duplicates, reversals or unsupported differences.
Where required by the account structure and process, compare the relevant control-account balance with individual tenant, owner or beneficiary balances for the same cutoff date.
Record evidence and proposed next steps for each difference. Route accounting adjustments, disbursement questions and jurisdiction-specific issues to the authorized client reviewer or qualified adviser.
Depending on the engagement, source records may come from Yardi Voyager, Buildium or AppFolio, with accounting records in QuickBooks Online, Sage Intacct or Xero. We confirm the reports, access permissions and responsibilities before agreeing the workflow. This page describes accounting preparation and reconciliation support—not a software-vendor partnership, certification, legal opinion or regulatory compliance guarantee.
Accounstone can prepare agreed accounting records, reconciliation schedules and exception reports. The client retains bank access, withdrawal and payment authority, approval of owner distributions and proposed accounting corrections. The client and its qualified local advisers determine the legal, regulatory, tax and trust-account requirements that apply to the engagement.
Within the agreed scope, support can include bank-to-book reconciliation, comparison of relevant tenant or owner ledger totals to control accounts, deposit and disbursement schedules, exception logs and supporting documentation for client review.
No. Requirements depend on the account arrangement, property type and jurisdiction. Accounstone can prepare accounting records and reconciliation workpapers from client-approved instructions; the client and its qualified local advisers determine the applicable legal and regulatory requirements.
Where the account and applicable process require it, a three-way reconciliation compares the bank balance, the accounting book or control-account balance, and the total of the relevant individual tenant, owner or beneficiary ledgers. The exact comparison should follow the client’s documented process and applicable requirements.
No. The client retains bank credentials, payment approval, withdrawal authority, owner-distribution approval and all cash-release decisions. Support is limited to preparation, reconciliation, documentation and exception reporting.
Depending on the engagement, source records may come from Yardi Voyager, Buildium, AppFolio or another client-approved property platform, alongside accounting records in QuickBooks Online, Sage Intacct or Xero. Access, reports and responsibilities are confirmed before work begins.
Each difference should be recorded with its amount, period, related account or property, source evidence, likely cause where known, and the person responsible for review. Items are escalated rather than cleared through unsupported or unapproved adjustments.
Useful inputs include bank statements, tenant or owner ledgers, deposit detail, disbursement records, outstanding checks and the prior reconciliation.
The opening position is compared with the prior signed-off reconciliation and the relevant ledger records. Any carried-forward difference is listed with its original period and available support; it is not silently absorbed into the current period.
Yes, where included in the agreed scope. Each account and entity should have its own defined ledger population, reporting period and reconciliation workpaper so balances are not combined across unrelated records.
Yes. The reconciliation can be included in an agreed monthly close calendar with defined source reports and review points.
Tell us which property and accounting systems you use, what account and ledger records need to tie, how often reconciliations are prepared and where unresolved items are accumulating.
Set up a documented workflow for bank matching, ledger tie-outs, exception ownership and review handoff.
