Trust Account Bookkeeping

OptimalBooks hires and trains professional bookkeepers and CPAs in property management specific bookkeeping and accounting. Team members are trained in the software you already use, including Appfolio, Buildium, Yardi, Rent Manager, Propertyware, among others. We hire the best of the best from the Big 4 Accounting/Tax firms including PricewaterhouseCoopers (PwC), Ernst & Young, KPMG, and Deloitte, as well as other name-brand firms.

Bookkeepers/CPAs are available part-time for only a couple of hours a week, as well as full-time.

PRICING
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How We Help

Financial Reporting

Be it monthly financial statements, owner statements, tenant statements, or another custom report you have requested, we understand the importance of timely and accurate reporting. We’ll deliver easy to review documentation that is free of statement balance inconsistencies, incorrect account transactions, or other anomalies. If an error does come up, we’ll quickly correct it!

Trust Accounting

All accounts are reconciled monthly with discrepancies investigated promptly, ensuring that bank accounts balance to general ledger activity. Bills are never paid out of security deposit monies, funds are not commingled between clients, and trust funds are not used to pay business or brokerage bills.

Bank & Credit Card Reconciliations

Reconciliations are completed within the first two weeks of the month or per client requirements. Monthly financial statements are then finalized and sent for review.

Management Entities

We can use QuickBooks, Xero, WaveApps, or any other standard accounting software to prepare your business/management entity’s books separate from your Property Management software.

Cash Management

Accounts Receivable:
Whether tenants are paying rent online or in-person, we will maintain accurate and timely entries that match bank deposits ensuring your books are always up-to-date.
Accounts Payable:
Contractors, utilities, internet, HOA Dues, you name it, we’ve got you covered. In the process, we’ll make sure you understand your cash position, paying bills that are priority first, then making payments on others.

Administrative

Our Team adapts to your business needs. If that means organizing shared folder structures, receipts, sending emails, or doing data entry, we can get the job done.

Historical Catch-up & Clean-up

Falling behind on bookkeeping? OptimalBooks has you covered. We take a proactive approach to clean up your company’s bookkeeping for tax deadlines, critical reports, & future investments. We’ll first review your books, assess the best path forward, then give you an estimate of how long and how much it will cost to clean-up. Our goal is to eliminate surprises and leave you with a streamlined set of books that you can maintain month after month.

Utility Payments

We’ll first request a list of your utility accounts along with login credentials for each property. Then, on a monthly basis we’ll log into every property-level account and pay each utility bill directly via the online portal. We can also split shared utilities by tenant so tenant ledgers are accurate if/when utilities are billed back.

CAM Reconciliations

The preparation of CAM reconciliations can be time-consuming, cumbersome, and certain less-common lease clauses can be easily forgotten, leading you to leave money on the table. We’ll work with you or your property manager to ensure calculations are accurate and invoiced to tenants in a timely manner.

Pricing

Hourly

Full-Service Real Estate & Property Management Bookkeeping

$28/Hr

Hire a Bookkeeper

How We Work

Team Structure

We manage our company the same way the Big 4 Accounting and Consulting firms manage theirs, with a team structure including Senior Account Managers, Account Managers, and Bookkeepers. Senior Account Managers manage teams of Account Managers and answer the most complex questions our clients have, while Account Managers handle the bulk of tasks associated with client accounts and manage bookkeepers below them.

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Communication

Depending on the scope of work, clients may interact with different team members during the course of working with us, but we’ll ensure the communication is streamlined and everyone is on the same page along the way.

Any Portfolio

Based on the volume of work, we will build out a team below your assigned Account Manager to ensure fulfillment.

We work with clients that require just a couple of hours a week, up-to and including the build out of teams with multiple full-time team members and complex role specific duties.

FREQUENTLY ASKED QUESTIONS (FAQ)

My books are way behind, does OptimalBooks help me get up to date?

  • Of course! Just let us know what your situation is (months or years behind) and we’ll get started bringing you back to current.

What type of reporting do you provide?

  • Property Management Company Financial Statements including Income Statement, Balance Sheet, and Cash Flow Statement.

  • Property-level income statements and balance sheets.

  • Owner Statements.
  • Accounts Receivable and Accounts Payable Reports.
  • Custom Reporting as required by the client.

What information will you need from me to get started?

  • An overview of your business’s systems and protocols, read-only access to your bank/credit card accounts, access to your accounting and/or property management software, and any other platforms that you would like us to work with.

Is there a monthly minimum?

  • Yes, $300/month.