Facility Services
Property managers handle other people's money. Security deposits, owner distributions, and vendor payments have to be right every time.
You Manage Other People's Money
Property management, building maintenance, and security services share one thing in common. You’re running operations where the money isn’t entirely yours. Property managers collect rent on behalf of owners and pay vendors from owner funds. Security companies bill commercial clients who pay on 30 or 60 day terms while payroll goes out every two weeks. Maintenance firms handle emergency repairs and wait to get reimbursed.
The accounting has to reflect that reality. Security deposits aren’t income. Owner distributions can’t go out until reserves are funded. Every expense needs to hit the right property account so owner reports are accurate. Nobody mentioned that running a facility services company would mean becoming an expert in fund accounting and multi-entity reporting.
We ran a property management company in this area for almost twenty years before starting this bookkeeping practice. We know what it means to manage budgets across multiple properties, handle trust funds properly, and produce owner reports that hold up to scrutiny. That experience shows up in how we set up your books.
Multiple Stakeholders, Multiple Problems
Property managers answer to owners who expect monthly reports and timely distributions. Building maintenance companies juggle scheduled service contracts with emergency calls that disrupt cash flow. Security firms staff rotating shifts across multiple client sites and need to track labor hours accurately by location. Each business model brings its own accounting complications.
The common thread is accountability. Owners want to know exactly what you spent on their property. Commercial clients expect invoices that match the service agreement. Your own business needs accurate financials to know what you’re actually making. When everything runs through one messy set of books, nobody gets the clarity they need.
Who We Work With
Who We Work With
Property management companies handling residential or commercial portfolios. Building maintenance firms with service contracts across multiple sites. Security companies staffing guards at various locations. Anyone in facility services dealing with multiple properties, clients, or locations that need to be tracked separately.
What Complicates It
What Complicates It
Trust funds that must stay separate from operating accounts. Owner reporting with different distribution schedules. Service contracts with prepaid fees or net-30 terms. Labor allocation across multiple sites. Seasonal maintenance swings. Vendor management with W-9 and 1099 requirements for subs and contractors.
Where Things Go Wrong
The most common mistake is mixing funds. Security deposits get deposited into the operating account temporarily and never get separated out. Owner reserves get tapped to cover an operating shortfall with plans to replenish later. What starts as a cash flow shortcut becomes a compliance problem and a trust issue with the people who hired you to manage their property.
Another recurring problem is owner reporting that doesn’t match reality. Distributions go out before all the month’s bills hit the account. Maintenance reserves look adequate on paper until the roof actually needs replacing. Vendors get paid from the wrong property’s funds because nobody took time to code the invoice correctly. These problems compound over months because no one is treating each property as its own entity.
Trust Fund Errors
Trust Fund Errors
Mixing security deposits with operating funds inflates available cash. When multiple tenants move out in the same month, you’re suddenly short. Those deposits were never your money and the shortage creates both a legal problem and an uncomfortable conversation with owners.
Owner Distribution Timing
Owner Distribution Timing
Sending distributions before all bills clear creates problems down the line. A late utility bill or contractor invoice shows up after the money went out. Now you’re either advancing funds to the owner’s account from your own pocket or explaining why next month’s distribution is short.
What Changes
Every property has its own income and expense tracking in your reports. Owners get statements that show exactly what came in, what went out, and what remains in reserve. Distributions are calculated only after all known expenses have cleared. You can answer any owner question about any property in minutes because the data is organized by property from the start.
Trust accounting stays clean without extra effort. Security deposits are tracked by tenant and property. Operating funds stay in the operating account. When an owner asks questions or you face an audit, you have records that tell the story clearly. The books support the relationship instead of creating doubt.
Clean Owner Reporting
Clean Owner Reporting
Monthly owner statements show income, expenses, and distributions clearly. Owners can see what you spent on their property and why. Reserve balances are visible. Questions get answered with reports that make sense, not lengthy explanations or promises to figure it out.
Compliance Ready
Compliance Ready
Trust accounts reconciled properly every month. Vendor 1099s prepared without scrambling in January because W-9s were collected throughout the year. Records organized for any audit or owner review. The paperwork backs up the professional service you provide.
Greater Boston's Trusted Bookkeeping Partner
The Next Step:
A Short Conversation
We'll ask a few questions, figure out what you need, and give you a straightforward quote.