6 Monthly Must-Haves for Your Real Estate Books
The Investor’s Guide to Audit-Ready Financials
As a real estate investor, your goal is to grow your portfolio, not get buried in a mountain of receipts. Whether you are flipping houses in Dallas or managing short-term rentals in Miami, accurate financial data is the heartbeat of your business.
At The Rei Ledger, we see investors miss out on thousands in tax deductions simply because their records are incomplete. To keep your cash flow optimized, your bookkeeper needs more than just a glance at your bank account.
Here are the 6 essential items your bookkeeper needs from you every month:
1. Business Bank & Credit Card Statements
Even with "view-only" access, your bookkeeper needs the PDF statements. These act as the final word during reconciliation to ensure every penny is accounted for and no fraudulent charges slipped through.
2. Settlement Statements (Closing Disclosures)
Bought or sold a property? Your bank statement shows a wire transfer, but not the breakdown. Your bookkeeper needs the Settlement Statement to record title insurance, property tax credits, and loan fees correctly.
3. Repair & Maintenance Receipts
The IRS draws a hard line between a repair (deductible now) and an improvement (depreciated over time). Providing the actual invoice ensures you categorize these right and don’t overpay on taxes.
4. Property Management Reports
The "net" deposit in your bank doesn't tell the whole story. We need the monthly owner’s statement to record gross rent versus management fees and tenant placement costs. Otherwise, your income is understated.
5. Loan & Mortgage Statements
Your payment is a bundle of principal, interest, and escrow. To provide an accurate Profit & Loss statement, we need the breakdown from your lender to ensure your interest expense is fully deducted.
6. Property Status Updates
Did a tenant move out? Did a flip become a rental? Keeping your bookkeeper in the loop on these operational shifts ensures your filings stay compliant with local GEO-specific regulations.
Get Back to Doing Deals
Managing real estate finances is a specialized skill—from security deposits to 1031 exchanges. At The Rei Ledger, we help investors gain clarity over their numbers so they can scale with confidence.
Ready to get your books in order?