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Real estate bookkeeping for investors and property businesses

Property-by-property books for rental owners, investors and holding LLCs, kept so you can see each property's cash flow and hand your tax preparer exactly what Schedule E and depreciation need.

Rental property owners · Real estate investors · Property holding LLCs · Short-term rental hosts

Sample monthly reportIllustrative figures
Revenue$84,200+6.4%
Expenses$61,950+2.1%
Net profit$22,250+19%
  • Operating checking Reconciled
  • Business credit card Reconciled
  • 412 transactions categorized June
  • 3 open questions For you

What makes real estate books different

Income and expenses by property

One bank account for several properties makes it impossible to tell which one is profitable unless every transaction is tagged to a property.

Mortgage principal vs. interest

Only the interest is an expense. Principal reduces the loan, so each payment has to be split using the lender's statement.

Security deposits

Deposits are a liability you owe back to tenants, not income. Recording them as rent overstates income and causes problems at move-out.

Repairs vs. improvements

A repair is expensed; an improvement is capitalized and depreciated. The books need enough detail for that call to be made correctly.

Closing statements

Purchase and sale settlement statements carry prorated taxes, credits, loan costs and basis items that must be recorded line by line.

Owner money in and out

Contributions and distributions across several LLCs and personal accounts need to be tracked so capital accounts stay right.

What we do

  • Classes or locations set up per property
  • Rent, fees and other income by property
  • Mortgage payments split into principal, interest and escrow
  • Security deposits held as liabilities
  • Repairs and capital improvements recorded separately
  • Closing statements recorded at purchase and sale
  • Property manager statements reconciled to deposits
  • Owner contributions and distributions
  • Monthly P&L by property and for the portfolio
  • Fixed-asset list kept current for depreciation
  • Year-end package for Schedule E or the partnership return
  • 1099s for contractors tracked all year

Example: four rentals, one bank account

An investor owns four single-family rentals in one LLC with one operating account. We tag every deposit and expense to a property, split each mortgage payment from the lender statements, move security deposits to a liability account and keep a list of improvements. Each month the owner sees which property earns what; at year-end the preparer gets per-property income, expenses and new assets.

Most small portfolios fit Essential or Growth. Property-level accounting for larger portfolios is priced per property. See pricing or estimate your cost.

How repairs, improvements, depreciation, passive losses and real estate professional status are treated on the return is tax analysis, done as part of tax preparation or planning. Cost segregation studies are a separate engagement.

Who we work with

  • Rental property owners
  • Real estate investors
  • Property holding LLCs
  • Short-term rental hosts
  • Real estate agents
  • Small property management companies

How monthly bookkeeping works

Monthly reports by the 15th of the following month, once statements and answers to open questions are in.
  1. 1

    Onboarding

    We learn the business and set up secure, read-only access where possible.

  2. 2

    Transaction review

    Income and expense activity is reviewed every month.

  3. 3

    Categorization

    Each transaction goes to the right account, with rules for repeat items.

  4. 4

    Reconciliation

    Every bank and card account is matched to its statement.

  5. 5

    Reporting

    P&L, Balance Sheet and agreed reports, plus a short summary.

  6. 6

    Monthly review

    Open questions answered and anything unusual flagged for you.

Books built for real estate businesses

Tell us about your business. We'll recommend a package or send a written quote, free.

Get real estate bookkeeping support

A few details help us come back with the right package or a written cleanup quote. There is no cost and no obligation.

  • Reply within one business day
  • Fee confirmed in writing before any work
  • CPA-led, QuickBooks ProAdvisor certified team

Please don’t send bank passwords, SSNs or statements through this form. Once you’re a client, documents go through our secure client portal.

What do you need? *
Preferred contact

Bookkeeping questions

Bookkeeping reports are management reports for running the business and preparing tax returns. They are not audited, reviewed or compiled financial statements; those are separate engagements.

Not necessarily. Separate accounts per entity are strongly recommended; within one entity, tagging each transaction to a property gives you property-level reports without extra accounts.