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How to record and book a real estate transctions?


#1

I am managing a real estate office where I am receiving rents for different buildings and owners and each building contents out of 8 - 12 flats.

How I do I records all related entries ( cash received, flats income, leaseholders a/c & statement, owners a/c, maintenance, our administration fee) ?


#2

Various workarounds may be used if you have a full understanding of double entry accounting but they are not recommended. You should subscribe to a real estate agent trust account and landlord reporting system to ensure all your requirements are satisfied.