Bookkeeping solutions for your real estate business
Our Services
End-to-End Bookkeeping Support
Our scope of work is built around the unique needs of real estate accounting, ensuring clean books, accurate reports, and peace of mind.
Catch-Up & Historical Bookkeeping
Behind on your books? Let us get you back on track.
If your books are months (or even years) behind, we specialize in rebuilding clean, accurate, and tax-compliant records from scratch.
What we handle:
- Reconstructing historical financials
- Properly categorizing historical income and expenses (CapEx vs OpEx)
- Recording real estate-specific transactions like HUD for property purchases/sales
- Inputting third-party PM reports and short-term rental payouts (Airbnb/VRBO)
- Reconciling backlogged bank & credit card accounts
Perfect for real estate professionals preparing for tax season, acquisitions, audits, or refinance.
Accounts Payable & Expense Management
Let us manage your bills—accurately, on time, and property-specific.
We ensure every vendor bill, loan payment, and expense is entered, coded, and scheduled with precision.
Our AP services include:
- Entering and coding bills by property/class/vendor
- Setting up recurring bills (utilities, insurance, mortgage payments)
- Processing CapEx & renovation invoices separately for depreciation/tax tracking
- Recording credit card purchases and reimbursements
- Reconciling vendor ledgers and payment histories
Your vendors get paid on time, and your reports reflect true operating costs.
Tenant & Rent Receivables Tracking
Stay on top of every dollar received—or missed—from tenants.
We help you track tenant income and balances, including manual payments and government housing subsidies (including HUD Retractions).
Services include:
- Recording manual rent payments (e.g., Section 8, Zelle, cash deposits)
- Tenant receivables and outstanding balances by unit
- Move-in/move-out rent proration and final statements
- Utility bill-backs and late fee tracking
- Deposits, pet fees, and lease liability monitoring
Clear reporting and clean ledgers ensure you're never second-guessing your income.
Monthly Bank & Credit Card Reconciliations
We ensure your books match your bank—every month, no exceptions.
Reconciling your accounts monthly prevents fraud, catches errors, and ensures every report you run is accurate.
We reconcile:
- Operating, security deposit, reserve, and trust accounts
- Business credit cards (company-issued or personal reimbursement)
- Escrow and mortgage accounts tied to properties
- Unreconciled transactions and duplicates
Reliable numbers start with reconciliations—ours are detailed and timely.
Utility Management & Payments
Simplify your utilities. Track usage, manage bills, and recoup costs.
We handle utility bills across properties and bill back to tenants when applicable.
Utility support includes:
- Receiving and entering monthly utility invoices (electric, water, gas, internet, trash, etc.)
- Managing auto-pay setups or utility logins for payment
- Tracking utility charges per unit/property
- Allocating tenant bill-backs for shared meters or RUBS systems
- Ensuring timely payment to avoid late fees or shutoffs
No missed bills, no overpayments—just smooth, accurate utility workflows
Management Fee Pull & Owner Distributions
We handle what you earn—and what you owe.
From pulling your monthly management fees to Owner Distributions, we manage the cash flow and compliance.
Here’s what we do:
- Calculate and record property management fees (flat rate or % of collected rent)
- Record and support monthly or quarterly owner distributions
- Reconcile owner distribution amounts with actual bank activity
- Provide owner statements post owner distributions
Keep your owners and investors confident with clear, consistent Owner Statements and payouts.
Trust Accounting & Compliance
Meet all state trust accounting rules—stress-free.
If you hold tenant or owner funds in trust, state laws require detailed tracking and monthly reconciliations. We’ve got it covered.
Trust accounting services include:
- Setting up trust accounts correctly in your books
- Recording transactions separately for trust and operating accounts
- Tracking security deposits, reserves, and Prepaid rents
- Completing monthly 3-way trust reconciliations
- Audit-ready record keeping for DRE, state regulators, or HOAs
Especially critical in states like CA, TX, FL, NY, AZ, where trust compliance is mandatory.
Monthly Financial Reporting
Know where you stand, every month.
Our reporting isn’t just timely, it’s tailored to real estate professionals who need clarity across properties and portfolios.
You’ll receive:
- Monthly Profit & Loss statements by property and consolidated
- Balance Sheet and Cash Flow statements
- Owner equity & contribution reports
- Custom reports for fund managers, HOAs and multi-entity investors
Make confident decisions with financials that are clean, consistent, and easy to understand.
Year-End Support & Tax Prep
We don’t replace your CPA—we prepare your books so they can do their job faster and better.
We close your year with precision, saving time and reducing risk at tax time.
Our year-end services include:
- Finalizing books for all entities and properties
- Preparing and issuing 1099s to eligible vendors
- Providing tax-ready financial statements and backup
- Working directly with your CPA on reporting needs
Reduce CPA billable hours, avoid IRS issues, and file taxes with confidence.
Support that feels personal, every step of the way
Expert Solutions Tailored for You
Accurate bookkeeping tailored for real estate—track income, expenses, and stay financially clear with ease.
Property Management Companies
Income & Rent Collection
- Record rental income, late fees, lease renewal fees, and other tenant charges.
- Apply tenant payments to correct units, track unpaid balances, and reconcile rent rolls.
- Record and track security deposits separately from operating income.
Expense Management
- Process vendor bills (repairs, utilities, landscaping, maintenance) and make the payments.
- Differentiate between operating expenses vs. capital improvements for accurate reporting.
- Record and reconcile management fees and leasing commissions earned by the management company.
Trust & Escrow Compliance
- Maintain accurate tenant security deposit ledgers.
- Reconcile trust bank accounts monthly (required in most states).
- Ensure compliance with state-level trust accounting regulations.
Owner Distributions & Statements
- Track owner contributions and distributions.
- Generate monthly Owner Statements.
- Provide consolidated reporting for owners with multiple properties.
Corporate Accounting
- Monthly property-level Profit & Loss, Balance Sheet, and Cash Flow reports on Corporate Level of Accounting
HOAs & Community Associations
Income & Assessments
- Record rental income, late fees, lease renewal fees, and other tenant charges.
- Track late fees, fines, and violation charges.
- Maintain a Home Owner ledger for unpaid balances.
Expense Management
- Record vendor invoices for common-area maintenance, landscaping, utilities, and security and make payments.
- Ensure proper classification of reserve fund vs. operating fund expenses.
- Track management fees charged by association managers.
Trust & Reserve Fund Compliance
- Reconcile operating accounts, reserve accounts, and petty cash monthly.
- Maintain separate ledgers for restricted funds (reserves/special assessments).
- Ensure compliance with state HOA financial requirements
Reporting
- Monthly Budget vs. Actuals report for the Board.
- Reserve fund tracking and reporting for long-term planning.
- Delinquency & dues collection reports for transparency.
- Annual audit-ready reports for external CPA review.
Owner/Board Communication
- Provide monthly financial packets for board meetings.
Real Estate Brokers
Income Tracking
- Record commission income for each closed transaction.
- Allocate agent commission splits, referral fees, and brokerage fees.
- Track escrow deposits until released and ensure trust account compliance.
Expense Management
- Record office overhead: rent, insurance, MLS fees, marketing.
- Track marketing and advertising campaigns by property/agent.
- Manage payroll or 1099 filings for agents.
Trust Compliance
- Reconcile client escrow/trust accounts monthly.
- Maintain ledgers for all client funds held in trust.
- Ensure compliance with state Real Estate Commission trust requirements.
Reporting
- Brokerage Profit & Loss, Balance Sheet, and Agent Performance reports.
- Commission disbursement reports by agent, team, and office.
- Cash flow tracking to monitor brokerage sustainability.
Owner Distributions & Fees
- Calculate brokerage owner’s net income after agent payouts and overhead.
- Record management or franchise fees if applicable.
Real Estate Investor
Income & Rent Tracking
- Record rental income across single-family, multifamily, or commercial units.
- Track tenant receivables and lease schedules.
- Apply income allocation by property for portfolio analysis.
- Record Rent Income by owner statements if properties are under third party management
Expense Management
- Record all property-level expenses.
- Track mortgage payments,insurance & property taxes
- Differentiate capital improvements vs. deductible expenses for tax reporting.
- Record Expenses by owner statements if properties are under third party management
Trust & Compliance (if investors have funds held in trust)
- Maintain investor contribution and distribution ledgers.
- Ensure accurate handling of joint venture or syndication funds.
Owner/Investor Distributions
- Track equity contributions from partners.
- Record quarterly or monthly distributions to investors.
- Generate waterfall or profit-sharing calculations as per operating agreements.
Reporting
- Monthly and quarterly Property P&L, Balance Sheet, and Cash Flow.
- Investor reports: contributions, distributions, ROI calculations.
- CapEx & reserve tracking for long-term planning.
- Portfolio-level consolidated reporting across multiple properties.
Our experienced accounting & property management team keeps things running behind the scenes.
- 115 Walton Ave, Lexington, Kentucky, 40508
- Global Back Office Operations Hub – Noida, Uttar Pradesh, India
- accounting@virtualstreet.in
- +1 (859) 308-6068
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