Real estate bookkeeping services from a dedicated real estate bookkeeper

Bookkeeping for real estate is not ordinary bookkeeping

Real estate bookkeeping looks simple from the outside: rent comes in, bills go out. In practice, a portfolio of a few properties held in a few LLCs generates exactly the kind of transactions general bookkeeping gets wrong: a single mortgage payment that is part principal, part interest, and part escrow; a new roof that usually belongs on the balance sheet, not in repairs; a loan from one LLC to cover another’s shortfall; a renovation whose costs need to be tracked against a budget.

When those are recorded incorrectly, the books stop being useful. Property-level profit is distorted, loan balances don’t match lender statements, intercompany balances never agree, and year-end turns into a scramble to rebuild a year of activity for your tax preparer. A dedicated real estate bookkeeper prevents that by setting up your books around how real estate actually works, then keeping them current every month.

What our real estate bookkeeping services include

Books by property and by entity

Each LLC or other entity gets its own set of books, and within each entity we track income and expenses by property. You can see how one building is performing, how one entity is doing, or how the whole portfolio looks, without exporting to a spreadsheet and sorting it yourself.

A real estate chart of accounts

We build or clean up your chart of accounts for real estate: rental income by type, operating expenses grouped the way owners and lenders read them, separate accounts for repairs and for capital improvements, security deposits held, loan balances, escrow, and accumulated project costs. A consistent chart of accounts across all your entities makes properties comparable and consolidation straightforward.

Capital improvements vs. repairs

Routine repairs and maintenance are generally expensed. Improvements that make a property better, restore it, or adapt it to a new use are generally recorded as assets. We record each item consistently, keep the invoices and detail behind larger projects, and flag judgment calls for your tax preparer or CPA so each decision is made with their input and documented.

Mortgage, loan, and escrow tracking

Every loan payment is split into principal, interest, and escrow, and every loan balance is reconciled to the lender’s statement. When your lender pays property taxes or insurance out of escrow, we record those payments so the expenses show up in the right period and the escrow balance stays accurate.

Intercompany transfers

Money moves between entities all the time in a real estate portfolio. We record each transfer on both sides as a due-to and due-from (or as a contribution or distribution, as you direct) and reconcile those balances every month so they always agree.

Job costing for development and renovation

For developers, rehab investors, and real estate and construction companies, we track costs by project and by category, compare actual spending to budget, and accumulate project costs on the balance sheet while work is in progress. You see where each project stands, and you have organized cost detail when your lender or partners ask for it.

Monthly close and financial statements

Every month we reconcile bank, credit card, and loan accounts, review the activity, and deliver a profit & loss, balance sheet, and cash flow statement for each entity, with property-level detail. You get reliable numbers on a predictable schedule instead of once a year.

Cleanup, catch-up, and system changes

Behind by months, or inheriting books someone else kept? We reconcile accounts back to a clean starting point, reclassify transactions, correct loan and intercompany balances, and bring everything current. If you are moving to a new accounting system or restructuring entities, we help migrate and map your data.