Finance · Live demo
Trust account month-end desk for property management firms
Sends each property manager their unallocated rent receipts and month-end tasks, chases them until they are clear, and tells the finance manager what is still open before the trust reconciliation.
Talk to Ari at Capital Coast Property Management
Capital Coast Property Management is made up. Ari is a real agent, set up the way we would set one up for your team. Talk or type and ask what your staff would ask.
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The problem
The trust reconciliation waits on 28 property managers. Unallocated receipts sit for weeks, bond refunds are not confirmed, and the finance manager spends the first week of every month chasing.
How it works
- Sends each property manager their unallocated receipts on the 25th from the finance list
- Reminds them of bond refunds to confirm and rent changes to record before month end
- Records what each property manager has cleared and chases what is left
- Tells the finance manager each morning which portfolios are clear and what is open
- Passes questions about the reconciliation itself to the finance manager
What it connects to
- AgentHi Mei, it's Ari from accounts. Month end is Friday. Your portfolio has 3 unallocated receipts: NZD 520 on 19 October, NZD 610 on 21 October and NZD 455 on 22 October. Can you tell me which tenancies they belong to?
- Mei (senior property manager)The 520 is 7 Raumati Road, the tenant paid from a new account. Not sure about the other two.
- AgentThanks. I've noted the NZD 520 against 7 Raumati Road. The NZD 610 has the reference MILLS FLAT 2. Does that match one of yours?
- Mei (senior property manager)Yes, Flat 2, 40 Kapiti Road. The 455 I'll have to check.
- AgentDone, I've noted both for Natalie Fong. I'll check back on the NZD 455 tomorrow morning.
Illustrative conversation. Names, numbers and details are made up.
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