Real Estate Business
Boost Your Real Estate Profits with Expert Outsourced Accounting Services
Now, make Your Real Estate Business Profitable with outsourced Real Estate accounting services. Real estate industry is an industry that seeks more attention, risk and of course more profit than ever we can imagine.
Advinance: Best Real Estate Accounting and Bookkeeping Outsourcing Services
The real estate industry demands attention, involves risk, and promises significant profit. It faces unique challenges requiring pre-planning, cost summarization, variable analysis, and consideration of client and stakeholder interests.
Most activities are time-consuming and need integrated accounting solutions and operational control over project execution.
For the company’s future, it’s important to integrate a strong property management bookkeeping system with other management functions. This system should control costs, reduce capital expenditure, and improve service to clients.
Most activities are time-consuming and need integrated accounting solutions and operational control over project execution.
For the company’s future, it’s important to integrate a strong property management bookkeeping system with other management functions. This system should control costs, reduce capital expenditure, and improve service to clients.
Common mistakes real estate clients make in preparing their accounts:
Even a partial outsourcing with the property management bookkeeping can help in capitalizing the expertise and knowledge of the team; whereas in hiring a single person of real estate accounting domain to make you dependent all the time on their availability and interest to work.
This will keep your organization equipped, emphasized on remunerative part of the business e.g., sales, marketing, and client satisfaction.
- Wrong classification of costs
- Combining personal transactions with business transactions
- Not keeping track of cash expenses
- Lack of proper record-keeping
- Mismanagement of cash flows
Specialized expertise
Outsourcing provides access to expert knowledge for accurate and compliant financial reporting.
Cost Savings
Reduce staffing, training, and technology costs associated with accounting
functions
Improved Efficiency
Improve efficiency with real-time financial data and insights for informed property management and decision-making.
Who we serve
At Advinance, we tailor our accounting solutions to fit the unique financial needs of digital businesses—from online stores and marketplaces to SaaS platforms—helping them stay compliant, organized, and ready to grow.
Fast Food Franchises
Service Franchises
Education Franchises
Retail Franchises
Health & Fitness Franchises
Hospitality Franchises
Happy Clients
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Certified Experts
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Our Real Estate Accounting and Bookkeeping Outsourcing Services
Real-Estate Bookkeeping Services
- Set Up Chart of Accounts
- Preparing and sending periodical Invoices to tenants
- Recording receipts from tenants/buyers/prospective buyers
- Verifying and recording bills from vendors
- Payment to vendors
- Processing employees’ pay and update payroll file
- Recording depreciation and other adjusting entries
- Project wise expense segregation and allocation
- Recording the revenue and expense as per stage of completion of contract
- Month-end or year-end closing entries
Account Payable
- Posting supplier invoices and processing of payment
- Apportionment labour cost to different project if it is not identifiable
- Apportionment of electricity on the basis of meter reading and other direct expenses to specific project
- In case property is insured, managing track of policy expiry date and posting of prepaid entry for insurance expense
- Approval of payment and processing of payment
- Review and reconciliation of vendor balances
- Property wise revenue reconciliation
- Processing of 1099s
- Submission of Accounts Payable Aging report
Accounts Receivable
- Identifying different leases account and creating in the accounting software
- Recording rent receipt on monthly basis
- Generating rent statements
- Review and reconciliation of rent collection according to property wise
- Delayed fee for late payment
- Utility consumption analysis
- Review and reconciliation of security deposit from tenant
- Submission of Accounts Receivable Aging report
Management Reporting
- Preparation of property control reports on a monthly basis
- Maintaining amortization and depreciation schedule
- Receipt of budget on monthly basis and comparison between actual expenses and monthly budgets and reporting on variances
- Preparing of Profit and loss by Months, previous year comparison, Profit and loss by Properties, Balance sheet by month, previous year comparison, Balance Sheet by properties, Trial balance
- Report of Cash flow statement and General ledger.
Payroll Processing
- Setting up Payroll
- Payday calculations with the processing of payroll
- Payroll tax calculation and form filling
- 941, 1099, 940, and quarterly state tax returns
