Setting up an air-tight chart of accounts

Every tax season brings a new opportunity to tighten up your books, take a closer look at operations, and make your accounting process more efficient.

This guide takes the guesswork out of property management accounting with a step-by-step process to set up an air-tight chart of accounts based on Generally Accepted Accounting Principles—and Taylor Brugna’s own industry know-how. 

Real estate accounting expert Taylor Brugna, partner at The Real Estate CPA, walks you through how to:

• Set up 4 essential bank account types 
• Define different asset types within your chart of accounts
• Separate expenses to make sure each transaction is recorded
• Better understand and track liabilities
• Introduce technology to make important stages of the categorization process easier