Menu

OVERVIEW – REAL ESTATE ACCOUNTING

When it comes to the real estate industry, choosing a client focused accounting service provider that can help real estate agents and companies achieve their business objectives is more important than ever. At Cogneesol, we provide you with world-class real estate accounting services meant to reduce your operating expenses, strengthen the cash flow and increase your profitability throughout the market variations. Our team understands the typical financial problems that real estate businesses deal with and is prepared to help you with its hassle-free accounting solutions and tax preparation practices.

We at Cogneesol have more than 9 years of experience in providing accounting, bookkeeping and tax preparation services to REITs, property management firms, real estate companies, investor groups, brokers as well as agents, across the globe. We’ve garnered a remarkable reputation for our know-how, accuracy, reliability with regards to handling accounting for real estate agents and companies. Our responsive, innovative and customized financial solutions can help our clients meet compliance and reporting benchmarks, make well-timed and ideal financial decisions to expand their businesses and stay ahead of the curve.

OUR ACCOUNTING SERVICES FOR REAL ESTATE

REAL ESTATE BOOKKEEPING

  • Setting up Chart of Accounts
  • Recording expense receipts from tenants
  • Recording invoices from suppliers
  • Paying suppliers
  • Processing payroll and providing the paychecks
  • Recording depreciation and other adjusting entries
  • Entering bank details
  • Segregation and allocation of project-related costs
  • Construction in progress reports
  • Month-end or year-end closing (reconciliations & preparing cash projections)
  • Recording the transactions by Properties/class or Jobs
  • Inter-company transaction processing
CLICK HERE TO READ MORE

REAL ESTATE ACCOUNTS PAYABLE

  • Entering and processing invoices using accounting software to track expenses at multiple levels
  • Managing overhead-related bills, such as utility bills (Recording meter readings, allocating expenses across multiple properties & making utility bills payment online)
  • Managing expenses related to insurance (Keeping track of the due-date and amount to be paid for insurance premium)
  • Handling disbursements (Entering checks for printing after getting approval & generating related disbursement reports)
  • A comprehensive review of various payable batches (Property wise, account wise & vendor wise)
  • Processing of 1099s
  • Preparing Accounts Payable Aging Summary and Details report
CLICK HERE TO READ MORE

REAL ESTATE ACCOUNTS RECEIVABLE

  • Setting up leases in accounting software
  • Processing the rent of tenants on a monthly basis
  • Generating rent statements
  • Processing and analyzing of rent collection on a monthly basis
  • Late fee application in case of delayed payments
  • Updating move-in, move-out or termination record of tenant
  • Keeping track of utility consumption and estimating billbacks
  • Analyzing tenant ledger reports to determine any discrepancy
  • Keeping track of security deposit of tenants
  • Preparing Accounts Receivable Aging Summary and Details report
CLICK HERE TO READ MORE

MANAGEMENT REPORTING

  • Preparation of cash-based or accrual-based property control reports on a monthly basis
  • Maintaining financial schedules, such as amortization and depreciation
  • Comparison between actual expenses and monthly budgets for preparing variance reports
  • Preparing financial reports like Profit and loss by Months, previous year comparison, Profit and loss by Properties, Balance sheet by month, previous year comparison, Balance Sheet by properties, Trial balance, Cash flow statement and General ledger.
CLICK HERE TO READ MORE

PAYROLL PROCESSING

  • Payroll setup
  • Payday calculations and direct deposits
  • Payroll taxes calculation and form filling
  • 941, 1099, 940 and quarterly state tax returns
CLICK HERE TO READ MORE

TAX PREPARATION SERVICES

  • Tax minimization strategies
  • Strategic tax planning
  • Personal tax preparation
  • Business tax preparation
  • Tax deferral transactions
CLICK HERE TO READ MORE

ACCOUNTING SOFTWARE FOR REAL ESTATE

(Click on any of the logos below to browse our software-specific real estate bookkeeping and accounting services.)

  • quickbooks accounting services
  • netsuite accounting services
  • Quicken Finance and Accounting Software
  • Sage Accounting Software
  • Xero Accounting Software
  • MYOB accounting
  • wave accounting
  • Intacct accounting software
  • Simply accounting by sage
  • Microsoft Dynamics
  • SAP solutions
  • Yendo accounting
  • Less finance and accounting
  • Acclivity Small Business Software
  • Bill software
  • Peach tree accounting software

Get a Free Quote

Don't wait a single day to get your real estate accounting, bookkeeping, tax preparation and payroll processing under control. If you want to start working with a company that genuinely understands the requirements of your industry, get in touch with Cogneesol today at +1 646-688-2821 or request a free consultation online.

OUR AREA OF EXPERTISE

You can take out day-to-day real estate bookkeeping tasks from your to-do list by outsourcing them. We at Cogneesol can maintain your books in an orderly manner and provide you with professional real estate accounting services. We’ll furthermore prepare personalized financial reports to assist you in finding out and preventing unnecessary expenses and accurately keeping track of where your money is actually going.

Cogneesol considers working as a partner for its clients and getting a grasp on their business model, work methodology, and objectives before project initiation to satisfy their requirements. Our focus is on taking a proactive action at each and every phase, in order to obtain excellent results within limited timelines. Should you be looking for a company that can be of help to you in attaining excellence in your finance and accounting procedures, your search ends at Cogneesol!

Every Business Is Unique.
Find Out How We Can Help Yours.

  • Service and support beyond your expectations
  • Get your team to do what is core to your business
  • Customized solutions to suit your needs
  • Helping you improve efficiency and profitability
  • Our team is there to assist you 24x7
  • Delivery of projects within the agreed time-frame
REQUEST A FREE Trial

What People Are Saying About Cogneesol

Scroll To Top Scroll To Top