Twelve checks that take about an hour and catch the problems that cost property managers their owners, and sometimes their license. No accountant required.
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Bank balance of the trust account, book balance of the trust ledger, and the sum of every owner ledger plus held deposits. Same day, all three.
Not roughly. To the cent. A small stubborn difference is usually an old error compounding quietly.
Any owner below zero is being quietly funded by the other owners' money. In most states that is a trust violation on its own, even when the bank reconciles.
For every deposit you hold: which tenant, which property, which account it sits in. If deposits and operating cash share an account, note it.
Booking amount, channel payout, bank deposit. All three should tie for each reservation, on traceable dates.
List reservations with a balance still due after checkout. Someone should own chasing each one. Adjusted-away balances are your own money leaking.
The statement number and the money the owner received should match to the cent, with the same date.
Every door, every month. Fees that silently failed to post because an owner balance was too low are revenue you earned and never collected.
Not started. Completed, documented, and signed off. Count the days since.
Same date as the month before? Owners forgive numbers. They do not forgive unpredictability.
Tax collected should sit identifiable and untouched until filing. If it blends into operating cash, you are borrowing from the state.
If a buyer, an auditor, or your biggest owner asked for your books tomorrow morning, would you send them proudly or start cleaning first?
Book a free 30-minute books review. We go through what you found, and you leave with a written punch list of what it takes to fix, whether or not we ever work together.
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