Taxstra ยท Updated September 7, 2026
Reconcile the owner ledger, tenant deposits, trust cash and company fee income separately. The example assumes an 8% fee on collected rent, no other transactions and no timing differences.
These are hypothetical management-reporting examples. Educational, not individualized tax or accounting advice. Read the accompanying guide for assumptions and limitations.
| Owner activity | Amount | Support | Notes / supporting record |
|---|---|---|---|
| Opening owner reserve | $2,000 | Previous statement | |
| Rent collected | $20,000 | Tenant ledger | |
| Approved repairs | ($3,000) | Vendor bills | |
| Earned management fee | ($1,600) | Assumed 8% of rent collected | |
| Cash before distribution | $17,400 | Owner activity rollforward | |
| Owner distribution | ($15,400) | Approved payment | |
| Closing owner reserve | $2,000 | Owner ledger | |
| Refundable tenant deposits, unchanged | $5,000 | Separate deposit ledger | |
| Closing trust cash | $7,000 | $2,000 + $5,000 | |
| Company fee revenue | $1,600 | Fee report and transfer; not $20,000 rent |
| Check | Evidence | Exception to resolve | Notes / supporting record |
|---|---|---|---|
| Reconcile trust bank | Statement, outstanding checks and deposits in transit | Explain timing differences | |
| Reconcile owner ledgers | Owner balances and approved reserves | Investigate negative balances | |
| Reconcile deposit ledgers | Tenant balances and authorized changes | Check applicable requirements | |
| Verify fee transfers | Agreement, earned-fee report and both bank entries | Avoid duplicate bank-feed revenue | |
| Review owner expenses | Approval, vendor bill and property assignment | Separate company from owner costs | |
| Prepare owner statements | Opening, activity, distribution and closing balance | Approve before release | |
| Reconcile company operating books | Revenue, payroll, expenses and liabilities | Keep client funds distinct | |
| Review year-end reporting records | Owner/vendor identification and payment support | Resolve missing information |
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