Bookkeeping Services
We handle the numbers so you can focus on your properties.
Real estate bookkeeping comes with unique challenges – from tracking multiple properties and tenants to managing escrow accounts and complex reports. OnTrack Bookkeeping offers specialized real estate bookkeeping services for property management companies, landlords, and investors. We take the burden off your shoulders by managing all the details with precision. With our clear, hands-on approach, you’ll get accurate books, regular financial insights, and peace of mind knowing every property’s finances are in order.
Our Real Estate Bookkeeping Services Include
Property-Level Bookkeeping
We maintain separate records for each property in your portfolio, giving you a clear profit-and-loss statement for every building or unit. This property-level focus means you can see exactly how each asset is performing at a glance.
Rent Roll Reconciliation
Our team regularly reconciles your rent roll (the list of tenants and rents due) with actual payments and bank deposits. Every rent payment is accounted for and any discrepancies are caught and resolved quickly, ensuring no income slips through the cracks.
Tenant Ledger Management
We keep detailed tenant ledgers to track each tenant’s charges, payments, and balances with complete accuracy. You’ll always know which tenants are current or behind on rent, and security deposits and late fees are recorded properly – eliminating errors and disputes in your tenant accounts.
Escrow Account Tracking
OnTrack carefully manages escrow and trust accounts (such as security deposits or reserve funds). We track these funds separately and reconcile them regularly, helping you stay compliant with real estate regulations and giving you confidence that every dollar in escrow is properly accounted for.
Multi-Entity Financial Reporting
If you hold properties in multiple LLCs or entities, we handle the complexity of multi-entity bookkeeping with ease. Our team consolidates financial data across all your entities and also produces entity-specific reports, providing both a big-picture view of your overall portfolio and detailed reports for each ownership entity.
Why Choose OnTrack for Real Estate Bookkeeping
Specialized Real Estate Knowledge
We’ve spent years mastering real estate and property management bookkeeping. Our team understands the industry’s unique requirements – like tracking rental income and expenses per property, handling tenant deposits, and navigating multiple ownership structures. We know the ins and outs of real estate accounting, so nothing falls through the cracks.
Accuracy and Compliance
OnTrack prides itself on keeping your books spotless. We perform rigorous reconciliations of bank accounts, rent rolls, and escrow balances to ensure everything matches up. By maintaining accurate records and proper separation of funds (such as security deposits), we help you remain compliant with state and financial regulations. Your books stay audit-ready and error-free year-round.
Clear Reporting & Insights
Get easy-to-understand reports that make sense for real estate. We deliver monthly financial statements for each property and consolidated reports for your entire portfolio. You’ll gain insight into each property’s profitability, cash flow, and expenses. With transparent reporting, you can make informed decisions on buying, selling, or improving properties with confidence in the numbers.
Dedicated Support & Guidance
We’re more than just number-crunchers – we’re your bookkeeping partner. Our team is always available to answer questions and provide guidance. Need clarification on a report or advice on setting up QuickBooks for a new property? We’re here to help. We work closely with you (and your CPA, if needed) to ensure you understand your financial picture and feel supported every step of the way. By outsourcing to OnTrack, you save time and can focus on growing your portfolio while we handle the bookkeeping heavy lifting.
Common Questions
What makes real estate bookkeeping different from regular bookkeeping?
Real estate (or property management) bookkeeping has unique complexities that general bookkeeping doesn’t. Instead of one set of books for a single business, you’re dealing with multiple sets of financials – one for each property or investment. You have to track rental income and expenses for each property, manage tenant payments and security deposits, and often maintain separate bank accounts or entities for different buildings. There’s also the task of reconciling rent rolls (expected rent vs. received rent) and keeping escrow accounts in order. A bookkeeper who specializes in rental property bookkeeping understands these nuances. OnTrack uses that expertise to ensure every property’s finances are handled correctly and efficiently, giving you accurate records without the usual headaches.
Can OnTrack handle bookkeeping for multiple properties or LLCs?
Yes! We specialize in helping clients with complex real estate portfolios. Whether you own just a few rental properties or dozens of properties across several LLCs, we have you covered. OnTrack can maintain separate books for each property or entity and also produce consolidated financial statements for your entire portfolio. Our multi-entity reporting means you get both detailed property-level data and an overall view of your holdings, without any extra effort on your part. Managing 10 properties or 100, our processes scale to keep everything organized.
Will I still need a CPA for taxes if I use your service?
OnTrack Bookkeeping focuses on your day-to-day and month-to-month financial recordkeeping, ensuring that all your transactions are recorded properly and your accounts are up-to-date. Come tax time, you won’t be scrambling – your books will be organized and tax-ready. While we don’t prepare or file tax returns (we’re not a CPA firm), we work closely with your tax accountant or CPA. We provide them with accurate financial reports, rent roll details, expense breakdowns, and any other data they need so that your real estate tax filings are smooth and stress-free. In short, we make sure you’re fully prepared for tax season, and we’ll collaborate with your CPA to streamline the process.
Client Highlight
“OnTrack Bookkeeping has become an indispensable partner for our real estate business. They handle all the nitty-gritty details – from reconciling our rent rolls to tracking every tenant deposit – with accuracy and efficiency. Now our financial reports for each property are always up-to-date and easy to understand, giving us complete confidence in the numbers. Working with OnTrack feels like having an expert in-house accounting team, allowing us to focus on managing our properties and growing our portfolio.”
— Michael R., Real Estate Investor
Ready to Simplify Your Real Estate Bookkeeping?
Let us take the financial paperwork off your plate. Contact OnTrack Bookkeeping today to schedule a consultation and see how our real estate bookkeeping expertise can support your business. We’ll handle the property-level details, keep your books accurate, and deliver the reports you need – so you can spend less time in the weeds of accounting and more time growing your real estate investments. Get in touch with us and take the next step toward worry-free property finances!