The 2-Day Month-End Close Checklist for Property Managers

Two weeks to close your books every month. Sound about right?

It shouldn’t take that long. With the right process, you can close in two business days. Here’s exactly how we do it for our clients.

Day 1: Reconciliation and Review

Morning: Bank Reconciliation

• Reconcile all bank accounts (operating and trust)
• Match every transaction from bank feeds
• Flag and investigate any unmatched items
• Verify beginning and ending balances

Afternoon: Platform Reconciliation

• Pull financial summary from your PMS (Guesty, Hostaway, etc.)
• Compare PMS revenue totals to QBO income accounts
• Verify trust account liability balances match owner balances
• Check expense management platform (Topkey/Ramp) against QBO entries

Day 2: Reporting and Close

Morning: Adjustments

• Post any accrual adjustments
• Record management fee revenue recognition
• Process owner payout entries
• Verify advance deposit handling

Afternoon: Reports

• Generate P&L by property/entity
• Produce owner statements
• Create trust account summary
• Run compliance verification checklist
• Lock the period

Why This Works

The secret isn’t working faster. It’s having clean data coming in all month long. When your integrations are set up right and your chart of accounts is structured properly, month-end becomes verification, not construction.

Most property managers spend their close period fixing data entry errors, tracking down missing transactions, and manually calculating owner splits. We eliminate all of that during the month so there’s nothing to fix at close.

Want This Process For Your Company?

We implement this exact workflow for property management companies. Clean integrations, automated data flows, and a close process that actually closes on time.

Book a consultation and we’ll show you what your month-end should look like.