The close is always late
Statements go out in the third week for the previous month. Owners start asking, and answering takes longer than producing the report would have.
Property Management
Owner Statements That Go Out On Time.
The same cycle every month: rent in, vendors out, fees taken, owners paid, statements sent. We keep that cycle reconciled and closing on schedule, so owner questions have answers before they are asked.
A free 30-minute review of your rent roll, owner statements and security deposit handling.
- No obligation
- No sales pressure
- 30 minutes
- Virtual
- Free
Rent roll reconciled to the ledger Owner distributions tracked Deposits held as liabilities
- QuickBooks ProAdvisor Gold
- 10+ Years Finance Systems Experience
- Secure Cloud Bookkeeping
- Serving Clients Nationwide
What Goes Wrong
Where the Monthly Cycle Falls Apart
Property management is a recurring-close business. When the close slips, everything downstream slips with it: owner statements, distributions, trust reconciliation.
Two systems disagree
The property management platform says one thing, QuickBooks says another, and nobody has reconciled them since the platform was implemented.
Deposits recorded as income
Security deposits posted to revenue instead of a liability. The books overstate income and the deposit balance can no longer be proven by tenant.
Owner funds and operating funds blur
Without disciplined tracking, it becomes unclear how much of the operating balance belongs to which owner, which is a problem before anyone asks.
Management fees aren’t verified
Fees are calculated by the platform and never checked against the management agreement, so under- and over-collection both go unnoticed.
Maintenance costs vanish
Vendor invoices coded to a general repairs account with no property attached. Nobody can tell which building is consuming the maintenance budget.
How The Close Runs
The Same Calendar, Every Month
A late close is rarely a bookkeeping problem on its own. It is the platform and the ledger drifting apart until someone has to reconcile a quarter by hand. We run the cycle on a fixed schedule so the drift never accumulates.
- Rent roll reconciled to the general ledgerThe management platform and QuickBooks Online agreed line by line before anything is reported.
- Owner and operating funds kept apartTrust-style separation maintained in the chart of accounts, not reconstructed at year end.
- Deposits carried as liabilitiesHeld funds tracked by tenant and property against the holding account, never booked as income.
- Management fees verified against the agreementFee calculations checked to the contract terms before distributions go out.
Property Management Bookkeeping Services
A Close That Lands on the Same Day Every Month
Built around the recurring cycle a management company actually runs.
Rent Roll Reconciliation
- Rent receipts reconciled against the rent roll
- Delinquency and prepaid rent tracked
- Concessions and credits recorded properly
- Property management platform tied to the general ledger
Owner Distributions
- Distribution recordkeeping by owner and property
- Owner-funded reserves tracked separately
- Supporting detail behind every statement
- Year-over-year owner history retained
Security Deposits
- Deposits recorded as liabilities, never income
- Balances tracked by tenant and property
- Reconciled to the account they are held in
- Move-out deductions and refunds documented
Vendor & Maintenance Payables
- Every invoice coded to a property
- Turnover, repair, and capital work separated
- Vendor records and W-9s maintained
- Recurring service contracts tracked
Management Fees & Payroll Support
- Fees verified against the management agreement
- Leasing and renewal fees tracked separately
- Payroll support for office and maintenance staff
- Payroll recordkeeping reconciled in QuickBooks Online
QuickBooks Online for Managers
- Chart of accounts built for managed portfolios
- Classes and locations mapped property by property
- Cleanup where deposits or owner funds were miscoded
- Ongoing support from a Gold-tier ProAdvisor
Scope of services: Meridian Ledger Group LLC provides bookkeeping, payroll support, QuickBooks Online services, and financial reporting. We do not provide tax preparation or tax filing, and we do not provide legal, tax, audit, or investment advisory services, including advice on trust account regulations or licensing compliance. We maintain accurate, reconciled records that support your compliance obligations alongside your attorney and CPA.
What Changes
The Reports You Get, and What They Answer
Monthly statement package by property
Income, expenses, and distributions per property, closed on a fixed calendar date. Answers: what each owner earned, without a follow-up email.
Rent roll to general ledger reconciliation
The platform and the books agreeing, line by line. Answers: whether the number you are reporting to owners is actually the number in the bank.
Deposit liability schedule
Every deposit held, by tenant and property, tied to the holding account. Answers: exactly what is owed back and to whom, at any moment.
Maintenance spend by property
Repair and turnover cost per building over time. Answers: which property is quietly consuming the portfolio’s maintenance budget.
Owners do not read the general ledger. They read the statement, and they notice when it is late or when last month’s number moved. A reconciled rent roll is what makes the statement defensible, and what turns an owner question into a one-minute answer.
Own the properties as well as manage them? See real estate bookkeeping
Start Here
Get Your Monthly Close Back on Schedule
Thirty minutes with a QuickBooks ProAdvisor Gold, reviewing your close process, your platform-to-ledger reconciliation, and your owner reporting. No cost, no obligation.
- No obligation
- No sales pressure
- 30 minutes
- Virtual
- Free
Mon–Fri, 9:00 AM – 5:00 PM Pacific Virtual, nationwide
Questions
Property Management Bookkeeping FAQ
Can you reconcile our property management software to QuickBooks Online?
Yes. Rent roll, receipts, and disbursements from a property management platform are reconciled against QuickBooks Online each month, so the two systems agree and the general ledger reflects what actually happened at the properties.
Do you produce owner statements?
We maintain the underlying books that owner statements are produced from: income and expenses by property, management fees, and distribution records. Where statements are generated from your property management platform, we reconcile them to the general ledger so the numbers tie out.
How are security deposits handled in the books?
Deposits are recorded as liabilities rather than income, tracked by tenant and property, and reconciled to the account they are held in. Handling of trust or escrow accounts follows the requirements of your state and your own operating procedures.
Do you provide legal or trust accounting compliance advice?
No. We do not provide legal, tax, audit, or investment advisory services, and we do not provide tax preparation or tax filing. We keep accurate, reconciled records that support your compliance obligations, working alongside your attorney and CPA.
Our books are months behind. Where do we start?
With a fixed-scope catch-up project to bring the file current, then a monthly close schedule to keep it that way. See how cleanup and catch-up works.
Go Deeper
More on Property Management Books
How owner reporting, property-level books, and monthly reconciliation actually fit together.
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QuickBooks Cleanup & Catch-Up
A fixed-scope project to bring a behind or disorganized file current.
Cleanup & catch-up