- Client
- U.S. Real Estate Company
A company owning and managing multiple residential and commercial properties.
- Service
- Accounting & Bookkeeping
Property-level bookkeeping, reconciliations, and monthly financial reporting.
- Project Goal
- Faster, Clearer Reporting
Close each month sooner with reports owners can compare property by property.
Client Overview
A U.S. real estate company managed residential and commercial properties, each with its own rent roll, expenses, and bank accounts. Month-end close took most of the following month, and owners waited weeks for property reports.
The Challenge
- Many Entities and Accounts: Each property had separate bank accounts and books to reconcile.
- Manual Rent Reconciliation: Rent collections were matched to tenants by hand every month.
- Late Owner Reports: Property-level reports arrived too late to support decisions.
The Solution
Xconcile took over day-to-day accounting and bookkeeping for every property, working in the company's property management and accounting systems.
- Property-Level Bookkeeping: Recording income and expenses by property and unit.
- Rent and Bank Reconciliations: Matching collections to the rent roll and reconciling every account.
- Monthly Close Calendar: Fixed dates for each close task, shared with the company's team.
- Owner Reporting Pack: A consistent monthly report for each property and a portfolio summary.
Results and Business Impact
The company now closes its books in the first part of each month and shares property reports with owners on a fixed schedule.
- Properties Supported
- 12
- Faster Month-End Close
- 10 days
- Accounts Reconciled Monthly
- 100%
