The quick read
Key points
- Check property and statement dates.
- Review gross activity and net payout separately.
- Keep the statement and unresolved questions.
Identify the statement scope
Check the manager, property, covered period and opening balance. A statement can combine multiple rentals or include activity from an earlier month. Split the review by the actual source scope before assigning rows in IQ.
Inspect the components
Review rent collected, expenses paid, management fees, reserve changes and owner distributions individually. Keep the original statement next to the recognized or imported rows. A clear-looking OCR result still needs a comparison with the source.
Match the bank payout
Find the net deposit or withdrawal in your bank records. Use the appropriate clearing or payout workflow to connect it with the detailed statement activity. Booking the gross rent and then calling the net payout additional rent overstates income.
Document exceptions before closing
Flag missing invoices, unexplained balances and fees that differ from the agreement. Ask the manager for evidence and keep the response. Reconcile the completed statement and confirm the remaining balance rather than forcing the result to zero.
Before you finish
- Check property and statement dates.
- Review gross activity and net payout separately.
- Keep the statement and unresolved questions.
Keep your next step simple.
Use the product guide for the app workflow, or contact support with your question. Bookkeeping reports are not tax advice; review filing decisions with a qualified professional.