--- title: "Bank & credit-card reconciliation for property management companies" description: "Bank & credit-card reconciliation for property management companies: bank and credit-card reconciliation for every account, every month — no unreconciled." url: https://ledgerbpo.com/industries/property-management/bank-reconciliation/ updated: 2026-09-11 publisher: LedgerBPO (SS Support Network LLC) language: en-US --- # Bank & credit-card reconciliation for property management companies Bank reconciliation for property management companies centers on the trust account. The bank balance must agree with the trust ledger control account and with the sum of every owner and tenant balance, every month, and most state regulators expect the broker to sign that three-way reconciliation. Online rent payments arrive as batched deposits net of platform fees, owner distributions go out as ACH files and security deposits may sit in a separate account. - Since 2020 - US · UK · CA · AU - Named accountant plus backup - Your software, no lock-in [Get a custom quote](https://ledgerbpo.com/get-a-quote/) [Book a 20-minute call](https://ledgerbpo.com/book-a-call/) Updated September 2026 ## How it runs for property management companies Your accountant reconciles each trust and operating account within days of the statement in AppFolio, Buildium, Yardi and QuickBooks Online, lists every exception with an owner and files the signed reconciliation in LedgerDesk. ## What is a bank reconciliation service? A bank reconciliation service compares the transactions in your accounting software with the transactions on your bank and credit-card statements and explains every difference. The goal is a ledger balance that agrees with the statement after timing items such as outstanding checks and deposits in transit. Done monthly, it catches missing entries, duplicates, bank errors and fraud early. ## What we handle for property management companies - Trust account three-way reconciliation prepared for broker signature monthly - Batched online rent deposits matched to tenant receipts net of fees - Owner distribution ACH files traced to individual owner ledgers - Separate security deposit accounts reconciled to tenant deposit balances - Corporate operating and card accounts reconciled in QuickBooks Online or Xero ## The KPI that matters here Every trust and operating account reconciled within 5 business days of the statement with the three-way schedule filed. ## Property management compliance notes ### State trust-account rules Most US states require property managers who hold client funds to use a designated trust account, keep a ledger per owner and tenant and reconcile the account to the bank and to the sum of individual ledgers every month. Some states set deadlines for depositing receipts and prohibit any overdraft of an individual owner's balance. We prepare the ledgers and the three-way reconciliation; the broker of record signs and remains responsible. ### Security deposits Deposit handling is set by state and sometimes city law: where deposits are held, whether interest is owed, how quickly they must be returned after move-out and what deductions need itemizing. We track each deposit by tenant, record deductions with the invoice behind them and prepare the itemized statement inside the deadline for your review. ### Owner statements and 1099-MISC Management companies report rent collected on behalf of each owner on Form 1099-MISC once it reaches the annual threshold, and payments to unincorporated vendors on Form 1099-NEC. Owner statements must agree with the trust ledger and show income, expenses, fees, reserves and distributions. We keep W-9s and cumulative figures current so January filing is prepared for your review. ### UK, Canada and Australia client money UK letting agents must belong to a Client Money Protection scheme and protect tenancy deposits in a government-approved scheme within 30 days. Canadian provinces and Australian states set trust-account, audit and receipt rules for agencies holding rent and bonds. We maintain the records and reconciliations in the format the regulator or auditor expects. ## Property management software we work in - [AppFolio](https://ledgerbpo.com/software/appfolio/) - [Buildium](https://ledgerbpo.com/software/buildium/) - [Yardi](https://ledgerbpo.com/software/yardi/) - [QuickBooks Online](https://ledgerbpo.com/software/quickbooks-online/) - [Xero](https://ledgerbpo.com/software/xero/) - [Bill.com](https://ledgerbpo.com/software/bill-com/) - [Gusto](https://ledgerbpo.com/software/gusto/) - Rent Manager - Propertyware - [All 50 platforms](https://ledgerbpo.com/software/) ## More for property management companies Other services for property management - [Bookkeeping](https://ledgerbpo.com/industries/property-management/bookkeeping/) - [Invoicing and billing](https://ledgerbpo.com/industries/property-management/invoicing-and-billing/) - [Accounts receivable](https://ledgerbpo.com/industries/property-management/accounts-receivable/) - [Accounts payable](https://ledgerbpo.com/industries/property-management/accounts-payable/) - [Month-end close](https://ledgerbpo.com/industries/property-management/month-end-close/) - [Financial reporting](https://ledgerbpo.com/industries/property-management/financial-reporting/) - [All property management services](https://ledgerbpo.com/industries/property-management/) Bank reconciliation in other industries - [Marketing agencies & consultancies](https://ledgerbpo.com/industries/agencies/bank-reconciliation/) - [Auto repair shops & dealerships](https://ledgerbpo.com/industries/auto/bank-reconciliation/) - [Behavioral health practices](https://ledgerbpo.com/industries/behavioral-health/bank-reconciliation/) - [Daycares, schools & education](https://ledgerbpo.com/industries/childcare-education/bank-reconciliation/) - [The full bank reconciliation page](https://ledgerbpo.com/services/bank-reconciliation/) ## Frequently asked questions ### What does a three-way trust reconciliation include? It compares the adjusted bank balance, the trust liability control account in the ledger and the total of every individual owner and tenant balance on the same date. All three must agree. The accountant prepares the schedule with outstanding items and their ages, documents any difference and files it for the broker's signature and retention. ### How do you reconcile batched online rent payments? The platform's payment processor deposits rent in batches net of its fees, sometimes a day or two after the tenant paid. The accountant matches each batch to the individual tenant receipts it contains, posts processor fees to the correct payer under the management agreement and investigates any receipt not yet deposited or any deposit with no receipts. ### Can you reconcile a separate security deposit account? Yes, where state law or your policy holds deposits in a separate account, it is reconciled to the sum of tenant deposit balances every month, with interest posted where required. Move-in deposits and move-out refunds or deductions are traced through both the tenant ledger and the bank. Differences are reported the same week. Next step ## Books closed. Invoices paid. Every month. Tell us what is going on with your books or billing. You will hear from a named person within 1 business day, with a custom quote and a plan for the first close. - Reply from a named person within 1 business day - No setup fee, month-to-month - Your software, your data, no lock-in Start with a custom quote [Get a custom quote](https://ledgerbpo.com/get-a-quote/) [Book a 20-minute call](https://ledgerbpo.com/book-a-call/) Or call [+1-657-777-0006](tel:+16577770006) during US, UK or Australian business hours. --- Source: https://ledgerbpo.com/industries/property-management/bank-reconciliation/ · Contact: https://ledgerbpo.com/contact/ · Full site map for agents: https://ledgerbpo.com/llms.txt