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Trust account compliance, owner distribution reconciliation, property-by-property P&L, and 1099s for owners and contractors — bookkeeping built for how property management actually works.
Free intro call. Instant estimate in about two minutes. No pressure, no spam.
We're a bookkeeping firm in Austin, Texas that works with residential and commercial property managers on the complexities general firms get wrong: trust account segregation, per-owner distribution statements, CAM reconciliation, and the dual 1099 obligation to both owners and vendors.
Separate trust accounts. Per-owner distributions. Management fee income vs. pass-through distinctions. CAM reconciliation. Dual 1099 obligations. We handle every one.
Per-property books and owner statements, clean.
Full monthly close for your management company — accurate categorization of management fees, maintenance costs, vendor payments, and operating expenses. Monthly close package with P&L, balance sheet, and written commentary ready for your review every month. See all services
Security deposits tracked by tenant and property in a separate trust account — never commingled with operating funds. Monthly trust account reconciliation to protect your license and keep you compliant with state requirements. Disposition accounting when tenants vacate so deductions are documented and defensible.
Every owner statement reconciled to source — rent collected, maintenance deductions, management fee, repairs, and net distribution clearly separated. If you manage multiple properties for the same owner, we roll it up and break it down. No more owners asking where the money went.
Your management fee income is your revenue. Rent collected on behalf of owners is a pass-through — not your income, not your expense. We structure the books so these are never confused, your gross margin on management services is always visible, and your P&L reflects your actual business performance.
Common Area Maintenance reconciliation calculated by your lease terms — eligible expenses tracked throughout the year, per-tenant allocations based on square footage or lease provisions, and annual CAM statements prepared and ready to deliver. We build the process so it runs on time every year instead of becoming a year-end scramble.
Property managers have a dual 1099 obligation: 1099-MISC for rent paid to property owners and 1099-NEC for contractors and vendors paid $600 or more during the year. We collect W-9s from day one, track both thresholds throughout the year, and file both returns by January 31. No missed filings, no penalty exposure.
Your QuickBooks chart of accounts built around your property list — every revenue and expense line tagged to a specific property or portfolio. Monthly reports showing gross income, vacancy loss, maintenance spend, and net operating income per property. Reserve funds for capital improvements and HOA maintenance tracked separately from operating funds. Catch-up bookkeeping
Tax filings and legal matters — coordinated with your CPA or attorney. Turnkey CFO does not provide tax or legal advice; we keep your books filing-ready and support the process.
Property managers shouldn't have to wait for a report to know how each door is doing. Every client gets a live financial dashboard, updated as the books close.
"For the first time, I can see exactly what each property is making — and our trust account is finally reconciled and compliant every single month."
Separate P&L per property, trust account compliance locked in, and owner distribution statements that actually make sense to our clients. The dual 1099 obligation was handled without us even having to think about it.
We learn your portfolio — property count, owner relationships, commercial vs. residential mix, current software, trust account setup, and pain points. No sales pitch.
We connect to QuickBooks, review your chart of accounts, map your properties and owners, assess trust account setup, and clean up any historical issues before going live.
Monthly close package, property-by-property P&L, owner distribution statements, trust account reconciliation, and 1099 tracking running clean from month one.
Use the instant estimate to see a real price range, then book a 15-minute call to talk through fit and scope. No pressure, no sales pitch.