--- title: "Bank & credit-card reconciliation for real estate agents & brokerages" description: "Bank & credit-card reconciliation for real estate agents & brokerages: bank and credit-card reconciliation for every account, every month — no." url: https://ledgerbpo.com/industries/real-estate-agents/bank-reconciliation/ updated: 2026-09-11 publisher: LedgerBPO (SS Support Network LLC) language: en-US --- # Bank & credit-card reconciliation for real estate agents & brokerages Bank reconciliation for real estate agents & brokerages covers the operating account, the earnest money trust account, agent-fee card deposits and the company cards used for marketing. The trust account gets a three-way reconciliation: bank balance, trust ledger and the sum of individual transaction balances must agree, and most state commissions expect it monthly with the broker's signature. - 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 real estate agents and brokerages Commission wires from title companies are matched to specific closings, and split disbursements are traced out. Your accountant completes every reconciliation within days of the statement, lists exceptions with an owner and files the trust reconciliation in LedgerDesk for the broker and any regulator review. ## 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 real estate agents and brokerages - Operating account reconciled weekly with commission wires matched to closings - Trust account three-way reconciliation prepared monthly for broker signature - Agent-fee card deposits matched net of processor fees - Company card spend on marketing reconciled with receipts by agent or office - Outstanding disbursement checks tracked and resolved before they go stale ## The KPI that matters here Trust account three-way reconciliation completed and filed by the 10th of every month. ## Real estate compliance notes ### 1099-NEC for agents and referral partners Brokerages report commissions paid to licensed agents on Form 1099-NEC because agents who meet the IRC section 3508 tests are statutory nonemployees. Referral fees paid to other brokerages and payments to unincorporated vendors are reported the same way once they reach the annual threshold. We keep W-9s and cumulative totals current so the forms are prepared for your review and filing by the January deadline. ### Commission splits and disbursement records Each closing is documented from the settlement statement through the commission disbursement authorization to the agent payment, so the split, cap progress, franchise royalty and any referral fee are traceable. Many state commissions require these records to be retained for several years. We file the documents with the entry in LedgerDesk. ### Earnest money and trust accounts Most state real estate commissions require earnest money to be held in a separate trust account, never commingled with operating funds, with a transaction-level ledger and a monthly reconciliation. Some states require interest-bearing accounts or set deadlines for deposit and disbursement. We maintain the ledger and reconciliation; the broker signs and remains responsible under the license. ### Client money in the UK, Canada and Australia UK letting and estate agents must belong to a Client Money Protection scheme and keep client money in a separate account. Canadian and Australian agencies operate under provincial or state trust-account rules with regular reconciliation and audit requirements. We prepare the ledgers and reconciliations in the format the regulator or auditor expects. ## Real estate software we work in - [QuickBooks Online](https://ledgerbpo.com/software/quickbooks-online/) - [Xero](https://ledgerbpo.com/software/xero/) - [Gusto](https://ledgerbpo.com/software/gusto/) - [Bill.com](https://ledgerbpo.com/software/bill-com/) - [Stripe](https://ledgerbpo.com/software/stripe/) - Brokermint - SkySlope - dotloop - Lone Wolf Back Office - [All 50 platforms](https://ledgerbpo.com/software/) ## More for real estate agents and brokerages Other services for real estate - [Bookkeeping](https://ledgerbpo.com/industries/real-estate-agents/bookkeeping/) - [Invoicing and billing](https://ledgerbpo.com/industries/real-estate-agents/invoicing-and-billing/) - [Accounts receivable](https://ledgerbpo.com/industries/real-estate-agents/accounts-receivable/) - [Accounts payable](https://ledgerbpo.com/industries/real-estate-agents/accounts-payable/) - [Month-end close](https://ledgerbpo.com/industries/real-estate-agents/month-end-close/) - [Financial reporting](https://ledgerbpo.com/industries/real-estate-agents/financial-reporting/) - [All real estate services](https://ledgerbpo.com/industries/real-estate-agents/) 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 is a three-way trust reconciliation? It compares three figures on the same date: the adjusted bank balance of the trust account, the trust ledger control balance in the books and the total of every individual transaction's balance. All three must agree. The accountant prepares the schedule, lists any differences with their cause and files it for the broker to sign and retain. ### How do you match a commission wire to the right closing? Each closing posted from the settlement statement records the expected net amount and the title company or attorney. When the wire arrives, the accountant matches it to that closing and clears the receivable. Amounts that differ from the expected figure are investigated the same day, commonly a wire fee or a last-minute credit on the statement. ### Can you reconcile a trust account that has been neglected? Yes, the accountant rebuilds the ledger from deposit slips, purchase agreements and closing disbursement records, reconciles month by month and documents any unexplained items for the broker. Where a shortfall or excess appears, it is reported immediately rather than absorbed. The broker decides on any corrective step and remains responsible under the license. 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/real-estate-agents/bank-reconciliation/ · Contact: https://ledgerbpo.com/contact/ · Full site map for agents: https://ledgerbpo.com/llms.txt