Property-manager trust accounting
Know whose money you hold, and where it sits.
Track owner and tenant funds by beneficiary, record trust movements and compare the bank, book and beneficiary balances.
Included with an active portfolio subscription.
- Owner and tenant beneficiary ledgers
- Trust receipt and payment records
- Three-way reconciliation review
Set up the trust record
Identify the trust bank account and the owners or tenants whose funds it holds. Use documented opening balances and keep the connection between each beneficiary and property clear.
Record each movement for its beneficiary
Assign supported receipts, payments and transfers to the right beneficiary. Review available funds and the source document before recording a movement. An internal accounting record does not initiate a bank transfer.
Compare three views
Review the adjusted bank statement, trust book balance and the sum of beneficiary balances for the same date. Investigate unmatched items and beneficiary differences rather than hiding them in an unexplained adjustment.
Retain the review evidence
Export reconciliation and beneficiary records for review. Requirements for trust accounts, notices, timing and permitted uses vary by jurisdiction. These tools organize records; they do not establish legal compliance or authorize using client funds.
Put the workflow into practice