INTRODUCTION
In 2023, a property management firm partnered with Mercurius Advisory Services to manage financial operations for its expansive property portfolio. The client needed streamlined bookkeeping, AP processing, tenant ledger maintenance, and tax compliance for over 2,500 units.
DISCUSSIONS
Managing high-volume real estate finances required accuracy, responsiveness, and tight compliance. The client prioritized timely reporting for investors, clear rent tracking, and seamless vendor payment management.
REQUIREMENTS
• Full-service bookkeeping and AP management
• Reporting for 56 properties and investor updates
• Tenant ledger accuracy and rent reconciliation
• 1099 compliance and vendor payment oversight
SOLUTION
Leveraging our extensive real estate accounting expertise, we delivered the following:
1. Bookkeeping Across Properties:
Managed books for 56 properties, totaling 2,500 rental units.
2. Monthly and Quarterly Reporting:
Generated tailored monthly financials for 35+ properties and quarterly investor-ready reports.
3. Accounts Payable Oversight:
Handled vendor payments with strict policy adherence to ensure on-time disbursements.
4. Tenant Ledger Management:
Updated 5,000+ ledgers daily and conducted monthly audits for accuracy.
5. 1099 Filing and Compliance:
Filed vendor 1099s to meet U.S. tax obligations.
CONCLUSIONS
Through organized and timely execution, we delivered streamlined financial operations, complete compliance, and reliable investor reporting, empowering the client to focus on confidently expanding their real estate footprint.
