Bookkeeping and payroll for real estate professionals
Commissions, splits, escrow and rental income each need their own treatment. We keep them organized, separate and tax-ready.
Commission income and agent splits
Commission income arrives in lumps, often net of splits and fees. For brokerages, tracking agent commissions, splits and 1099s correctly is essential. For individual agents, it’s about knowing your true income after marketing, MLS, licensing and vehicle costs. We set up categories that make both clear.
Escrow and trust funds
Client and escrow money is not your money, and it should never be mixed with operating cash in your books. We keep it separate and clearly documented, which protects you and simplifies reviews. (Requirements for handling trust accounts are set by Florida law and your brokerage. Confirm them with your broker of record or attorney.)
Rental properties and property management
If you own or manage rentals, income and expenses need to be tracked by property, with security deposits handled distinctly from rent. Property-level statements show which units perform and which quietly lose money.
Contractors, not employees
Most agents are independent contractors, so brokerages track and report payments on 1099s. We keep those records organized during the year. If you also have employed staff, such as office managers or assistants, our payroll service handles them.
Investors and flips
Buy-renovate-sell projects need project-level tracking of purchase price, renovation costs, carrying costs and sale proceeds. We record each deal separately so your CPA has clean numbers and you know your true return.
How we set up your books
- Commission income tracked per transaction, with brokerage splits and referral fees shown separately
- Escrow and trust money held apart from operating money, with clear documentation
- Property-level income and expense tracking for rentals, with security deposits kept as a liability
- Agent payments organized by payee for 1099 reporting
- Project-level tracking for flips and renovation deals, from purchase to sale
Common mistakes we clean up
- Depositing commission checks and client funds into the same account
- Recording gross commission as income without the split or fee that came out of it
- Treating a security deposit as rental income
- Losing track of which expenses belong to which property or deal
- Missing 1099 filing details because payments weren’t organized by agent during the year
If any of these sound familiar, it’s fixable. We review what’s there, tell you what’s wrong and give you a written estimate to correct it, including catch-up work for past months.
What you get every month
- Reconciled bank and credit card accounts
- Accounts payable and receivable managed
- Financial statements with comparisons by the 15th
- Payroll and payroll taxes that reconcile to your books
See the full scope of our bookkeeping and payroll services.
Serving real estate across South Florida
Real Estate bookkeeping questions
Do you work with individual agents or only brokerages?
Both. We scale the setup to your business, from a single agent to a multi-agent office.
Can you track profit per property?
Yes. We track income and expenses by property so you can see how each one performs.
Books that fit how your real estate business works
Book a free call. We’ll look at where your books stand and give you an honest estimate before we start.