Fundamentals of Property Management Accounting
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Fundamentals of Property Management Accounting Presented by Exo Edge
Introduction to Property Management Accounting Definition: Property management accounting involves tracking and managing financial transactions related to rental properties. Importance: Ensures financial transparency, compliance, and profitability. Key Users: Property owners, managers, investors, and accountants.
Key Financial Statements in Property Management Income Statement (Profit & Loss Statement) Tracks revenue (rents, fees) and expenses. Balance Sheet Shows assets, liabilities, and equity of the property. Cash Flow Statement Monitors cash inflows and outflows for liquidity management.
Essential Accounting Practices for Property Managers Accrual vs. Cash Accounting Understanding the difference. Rent Roll Management Keeping track of rental income. Accounts Payable & Receivable Managing vendor payments and tenant collections. Budgeting & Forecasting Planning for maintenance, taxes, and other expenses.
