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WE Certified Real Estate Services LLC

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Accounting

WE Certified Real Estate Services specializes in offering an outsourced accounting option for small to medium sized property management and real estate companies. Property Accounting can be complex at times when you consider Operating Expense Reimbursements, Late Fee and Interest Calculations, Loan Draw/Reserve Requests, Tenant Reconciliations, Purchase/Disposition Entries, Depreciation/Amortization of Capitalized Assets, and GAAP accounting. A Property Management Company or Owner has to ensure these tasks are performed accurately.

Finding accountants with the right skill level at an affordable cost is getting harder and harder. WE Certified has proven policies, processes, and reviews in place to make sure the accounting is prepared accurately and efficiently. Further, we take the risk of scaling the accounting FTE’s when properties are added or reduced. Our prices are not based on the FTE, but on the group of tasks being performed.

Not all of these tasks mentioned above are needed at every property. WE Certified will work with you to customize a tailored approach to your accounting needs. See many of the types of recurring accounting tasks we offer below:

Accounts Payable

  • Code Invoices
  • Review Invoices for Invoice and Coding Accuracy
  • Enter All Pertinent Information on Invoice in Accounting System
  • Cut Checks and Deliver to Vendor
  • Vendor Setup in Accounting System
  • Vendor Payment Questions
  • Vendor Account Reconciliations
  • Bank Reconciliation
  • Funding Forecasts
  • 1099 Processing
  • Bank Account Maintenance
  • AP Payment Workflow System Administration
  • Cash Monitoring/Funding
  • Holding of Checks
  • Monitor Loan Reserves and Requests Draws from Lender
  • AP Internal Controls
  • Review/Recommendations

Billing/Collections/Accounts

  • Receivables
  • Abstract Tenant Leases
  • Set Up Tenant Recurring Charges in Accounting System
  • Set Up All Future Charges in Accounting System (CPI, Rent Esc, Free Rent)
  • Set Up All Tenant Options and Expirations in Leasing System
  • Set Up Tenant CAM Pools
  • Calculate CAM Billing Estimates
  • Reconcile CAM Billings to Expenses at Year End and Bill Accordingly
  • Enter All Tenant Non-Recurring -Charges into Accounting System (work orders)
  • Bill Monthly Tenant Statements
  • Deliver Monthly Tenant Statements
  • Tenant Account Reconciliations
  • Tenant Bill Questions
  • Follow Up on Tenant Collections
  • Bank Deposit
  • Enter Deposits into Accounting System
  • Lockbox Reconciliation
  • Review AR Aging
  • Bank Account Maintenance
  • AR Internal Controls
  • Review/Recommendations

General Ledger

  • Calculate Standard Accruals and Enter into Accounting System
  • Calculate Operating Accruals and Enter into Accounting System
  • Depreciate Fixed Assets/TI/CapEx/Commissions and Record in System
  • Calculate and Record Straight-Line Rent in System
  • Record Loan Proceeds, Interest, and Amortization into System
  • Perform General Ledger Review for GAAP or Cash Basis Treatment
  • Set Up and Administer Accounting System

Financial Reporting

  • Balance Sheet
  • Balance Sheet Reconciliations
  • Check Register
  • Bank Reconciliation
  • Cash/Funding Report
  • AR Aging
  • Income Statement
  • Income Statement Variances
  • General Ledger
  • Tenant Ledger
  • Rent Roll
  • Lease Expiration Report
  • Straight-Line Rent Report
  • Other Adhoc Reports as Needed