Property Management, Tenant Selection, Real Estate News & Tips

Feature Friday: Trial Balance Reports

By on April 10, 2015 in Education with 0 Comments

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Today’s feature comes to you when reconciling and last minute reporting are crucial and at an all time high to meet the April 15th tax deadline.  With the stress that comes with tax time this report was brought to you way back in 2013 to do exactly what we at Rentec Direct do best, make your life as a property manager or landlord easier.

Within the Financial Reports there is the small yet mighty Trial Balance Report. The trial balance reports are most often used for reconciling. In business we all know that at the end of the week, the month, or whenever we do our reconciling that debits and credits need to balance out or we get the fun and exciting task of teasing out the details to determine where we went wrong. In addition to reconciling and making it easy to find those discrepancies it can also be used for compliance with state real-estate trust accounting rules.  Because the term trial balance report has a lot of different forms and functions in the accounting world I’ve attached a quick link to this wikipedia article that can clarify exactly what these reports are intended for.

Here at Rentec Direct we scoured the different types of trial balance reports and carefully crafted our report to suit the needs of property managers and landlords.  As always we are here to serve your property management needs and are willing to work with you if a different type of trial balance report is needed. If the trial balance report we offer is not congruent with your states or property management corporation needs please send us an email with a template of what you need for your trial balance report to support@rentecdirect.com.

 

 

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About the Author

About the Author: Dulcey is both a private landlord and media contributor for Rentec Direct. Her passion is to bring up to date, useful information front-and-center for property managers and landlords. .

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