Property management · Monthly accounting workflow

Property Management Month-End Close Checklist

Review the records and explanations behind your property and portfolio reports. Document exceptions and assign responsibility for follow-up.

Collect the month’s source records

Gather bank statements, loan statements, invoices, rent-roll or ledger exports, and the agreed operating reports. Confirm the reporting cutoff.

Reconcile bank and clearing accounts

Match recorded activity to independent statements. Investigate outstanding items, unmatched transfers, and balances carried forward.

Review property and entity coding

Check income and expenses against the correct property, entity, and account. Document allocation methods and unusual adjustments.

Match security-deposit and owner records

Compare deposit and owner ledgers with the agreed control accounts and supporting schedules. Investigate differences before delivering reports.

Review receivables, payables, and debt

Obtain current schedules, flag old balances, and match material loan balances to supporting records. Assign unresolved questions to an owner.

Support the Balance Sheet

Keep schedules for material balances, transfers, deposits, and intercompany activity. Review unexpected changes and unsupported balances.

Explain property-level performance

Review property income, operating expenses, and agreed NOI calculations. Separate accounting changes from operational changes such as vacancy or repair activity.

Deliver reports and close the loop

Issue the agreed financial package with explanations, open items, and action owners. Confirm review and access responsibilities before restricting a completed period.

A workflow starting point. Your accounts, reporting responsibilities, and controls determine the final process. Account controls and applicable legal requirements should be confirmed with the appropriate qualified advisors.

Need a more dependable close?

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