Real Estate Outsourced Accounting Services

It's time to stabilize the financial side of your business.

Our team is standing by to help free up your time and make better financial decisions that will grow your business.

let's get started

Get a handle on the financial side of your portfolio or business

If you’re like many investors, you know keeping clean and up-to-date financial records is key to making good financial decisions, minimizing your tax liability, and growing your wealth.

  • Do you have the funds to put a down payment on the next property?
  • Are one or more of your properties underperforming?
  • How much tax will you owe?

All these questions can be answered when you have a good accounting system that is updated regularly. Without one, you’re making educated guesses (at best).

After helping over 800 real estate investors and business owners, The Real Estate CPA launched outsourced accounting services. Hire us to take over core accounting functions, so you can get back to growing your business.

Saving time & money

Starts with understanding where you are, then building a strategy and framework to meet the needs of your business and plans for growth.

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What to Expect:

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Kick-Off Call

Meet your accounting advisor to discuss your business, engagement expectations, timeline, and transfer the information required to complete your engagement.

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Implementation

Our team will set up your QuickBooks Online (QBO) accounting system based on the type of real estate business you own or operate.

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Monthly Bookkeeping

Once your system is implemented, we can handle the month-to-month bookkeeping functions to keep your financial records up-to-date, then deliver reports timely the following months.

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Advisory

Our accounting advisors are available to you via scheduled meetings to help you review and interpret your financial statements.

How we help get you to financial stability

Our Accounting Process

Our proven outsourced process provides you with the accounting system and resources you need to get insightful reports, monitor cash flow, and save hours of bookkeeping time.

Phase 1: Setting Up Your Accounting System

The goal of an accounting setup engagement is to deploy a fully functional accounting system based on your business.

Whether you’re a landlord, fix and flipper, wholesaler, property manager, brokerage, syndicate, or fund... we have the necessary expertise and capability to ensure your business financials are built with a strong foundation and not relying on property management solutions.

As your portfolio or business grows, you’ll need a dedicated accounting system to track financials efficiently.

Phase 1 includes:

  • Setting up a QuickBooks Online (QBO) account with the appropriate chart of accounts, class tracking, and opening balances.
  • Reconciling bank accounts.
  • Assets have been captured, including property basis in QBO.
  • Training on how to use your accounting system or engaging in a monthly engagement to have our team maintain your account.

Phase 2: Maintaining Your Accounting System

Once your accounting system is fully functional, here are your options for maintenance mode to keep your business the best financial situation possible:

  • DIY: We can turn the books back over to you and your team to maintain.
  • Short-Term Rental Bookkeeping: Currently offered to STR-only portfolios, this service is best for those seeking quality and timely bookkeeping services.
  • Controller: Best for those seeking simplified financial reporting and oversight with streamlined delivery.
  • CFO: A flexible solution best for those seeking detailed insights into their accounting.

Phase 2 includes:

  • Maintaining an accurate record of transactions.
  • Capturing the purchase or sale of property through journal entries.
  • Reconciling financial accounts including banks, lenders and reserves.
  • Generating financial reporting packages based on the service line, which can include P/L, balance sheet and additional reporting dashboards.
  • Financial statements will be delivered to you the following month, allowing you to track the health of your business and make better financial and investment decisions.

Outsourced Accounting Service Guide

 
STR Bookkeeping
Controller
CFO
Email Support
Our team is standing by to provide the support you need, with a two business day (48-hour) response time that ensures you get answers quickly.
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Convenient Document Retrieval

Our firm seeks to make the financial reporting process as efficient as possible while ensuring our requests to you are minimal. To achieve this, we require all our ongoing clients to provide 3rd party access to their online financial accounts.

This access is safe and allows us to pull required information for transactions and statements easily. Our access request may be for sites such as banks, lenders, credit cards, property management, Airbnb, Vrbo, etc.

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Reconciliation of Monthly Activity

Each month, we will capture transactions in your accounting software, including entries for any changes in property status (sale, purchase, refinance, and 1031 exchange).

Using documents retrieved through convenient 3rd party access, we will reconcile all banking, lender, and credit card account balances to ensure information is stated correctly.

Then we'll be able to provide you with a list of items that require clarification or additional documentation. These items are due to us through upload to our secure folder by the 8th of the month.

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Financial Statements

After completion of the month-end close, we will create financial reporting packages based on the service line, which can include P/L, balance sheet and additional reporting dashboards

These statements are available at the property level or consolidated to provide enhanced visibility into performance.

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Additional Services
Scheduled Meetings

Our tiers allow monthly live meetings tailored to your individual needs and schedule.

With Controller, you will receive up to either one 1-hour meeting or two 30-minute meetings per month.

Our CFO tier allows for more meetings and flexibility, providing up to six 30-minute meetings per month that can be grouped or spread out as needed.

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Budget to Actual Reporting

This reporting allows you to set expectations for performance at the beginning of a period and compare actual results each month. It is beneficial for tracking items such as construction/rehab costs and monthly rent & expenses.

Annually, we will review and upload your available budget information into our reporting tool.

With our controller tier, we will pull in relevant data that we feel will provide insights into performance.

Whereas the CFO tier allows for more control as you can work with your advisor to determine which budget information to be included in the reporting package and dashboards.

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Performance Analysis & KPIs

Included in our reporting package are detailed visualizations of the entity overall and for each property's performance. These can include written analysis, charts, or graphs that provide quick and easy-to-read information on revenues, expenses, profit, and balance sheet measures like cash, loans, and equity.

We also present key performance indicators in the reporting packages.

For our Controller Tier, you will receive three real estate industry standard metrics:

- Return on Investment
- Loan to Value
- Debt Service Coverage.

For our CFO tier, you will work with your advisor to include additional metrics most beneficial and important to you and your business.

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Custom & Interactive Dashboards

Exclusive to our CFO tier, our interactive dashboards allow you to view the entity and property financial data with a more customized view.

These dashboards can allow a real-time look into the current month's data and provide historical data for reference. You will work with your advisor to build the dashboards to tailor the experience to your needs.

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Strategic Partnering

We will support your entity through growth cycles and provide relevant and insightful financial information as needed throughout your journey.

Whether it is an ROI analysis on an upcoming purchase or refinance, the potential tax impacts of a property sale, or forecasting for goal setting, we value the opportunity to be a trusted business partner as the entity grows and matures.

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Investor Compliance

Based on your specifications, we will create the necessary financial reporting for investor meetings or quarterly investor packages.

We'll also work with you to calculate the payment of quarterly distributions. At your request, we can also attend meetings and present the information at one of our scheduled times.

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Bank Relationship Assistance

While we will help answer occasional banking questions in our Controller tier, our CFO tier allows us to become a valuable resource on a first-name basis with your lender.

We will build a relationship to facilitate providing necessary financial reporting for debt covenants or requirements and to answer questions regarding the financial statements, ensuring performance is interpreted correctly.

We can also recommend various banking and lending products that fit your entity.

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Sample Reports

Click below to view sample reports:

Controller

CFO Sample

We have a proven track record

Frequently Asked Questions

Our monthly accounting services are ideal for individuals or businesses that are already established or in the growth phase.

Expert Guidance: If you're seeking assistance in making informed decisions to expand and enhance your business, our services can provide valuable insights
and guidance.

Real estate expertise: Our team consists of real estate experts who can effectively transfer contextual knowledge to our in-house tax preparation and strategy teams.

This ensures that your accounting processes align with the unique requirements of the real estate industry.

By outsourcing your accounting needs to us, you'll redirect your efforts and resources toward the higher-value aspects of your business instead of investing time and resources in training and managing in-house accounting staff.

You'll also gain access to a team of professionals who can help drive your business forward and provide the support needed to make strategic financial decisions.